Is it possible to get a home loan jointly with my sis.in law who is NRI.Will I get the tax benefit for home loan,since it will be on joint name? Pls send your reply to my email address too. Thanks a lot. Raks
most statements for the period ending 31st march such as bank interest and tds payments will not be ready (and obviously cannot be ready) by 31st march. Perhaps by second week of april, they would be.
Its better to list these items as to do before filing returns but certainly not possible before 31st march.
DEAR ALL, IF A SALARIED PERSON DRAWS 35000/PM AND THIS IS INCLUSIVE OF DA,HRA ETC. NOW MY DOUBT IS IF HE GETS AT THE END OF YEAR BONUS/COMMISSION FOR HIS PERFORMANCE OF RS.300000/- HOW MUCH TAX HE HAS TO PAY FOR THIS BONUS ??? IS THIS BONUS/COMMISSION CONSIDERED AS PART OF SALARY ??? OR EMPLOYER NEED TO DEDUCT TDS ON IT OR HOW IS THE CALCULTAION ??? PLEASE HELP ME
RE:PLEASE HELP ME
by abhishek pandey on Mar 30, 2008 08:39 PM Permalink
Normally , it will be taxed on receipt basis .That is you do not know @ the begining of year how much the variable bonus be. SO ,your employer will deduct tax on it(TDS).
DEAR ALL, IF A SALARIED PERSON DRAWS 35000/PM AND THIS IS INCLUSIVE OF DA,HRA ETC. NOW MY DOUBT IS IF HE GETS AT THE END OF YEAR BONUS/COMMISSION FOR HIS PERFORMANCE OF RS.300000/- HOW MUCH TAX HE HAS TO PAY FOR THIS BONUS ??? IS THIS BONUS/COMMISSION CONSIDERED AS PART OF SALARY ??? OR EMPLOYER NEED TO DEDUCT TDS ON IT OR HOW IS THE CALCULTAION ??? PLEASE HELP ME
In the Budget,2008, the basic exemption limit has been increased for all individuals. So there will be a very great tax saving. - MAHENDRA SADLANI.C.A.
RE:RE:THERE WILL BE VERY GOOD TAX SAVING FROM NEXT YEAR
by ausi ka baap on Mar 09, 2008 02:44 PM Permalink
yes. fm has at last given relief to the salaried class which is fair, considering the high cost of living and inflation.
