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How to get Returns
by Kiran N on Jul 14, 2008 07:49 PM  Permalink  | Hide replies

There is no option to submit additional documents like LIC receipt or Rent receipt if you have not submitted the same to employer, Is there anyways to submit the same online...

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RE:How to get Returns
by Murali on Jul 16, 2008 05:41 PM  Permalink
Form 16 issued by the employer is not the final document. You can claim insurance premium & house rent while preparing ITR form. No need to attach Form 16 or supporting documents along with return.

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Need some information of Tax Paying.
by Ravi on Jul 14, 2008 11:46 AM  Permalink  | Hide replies

Hi, This is Rahul, I am salaried person working in a propowriter firm. My take home salary is Rs.10,000/- per month. I get salary without any deductions like TDS, IT, PF etc. The firm doesn't have any TAN number, have only Shop Act., hence doesn't provide me form 16.

Now I want to take a loan from bank, but bank ask me to show the current IT returns. Now my question is that "As per above scenario, Can I file the IT returns myself independently?" where my employer don't help me anyway.

Please reply asap. Thanks in Advance.

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RE:Need some information of Tax Paying.
by Amitabh on Jul 14, 2008 09:31 PM  Permalink
Yes, you may file the IT returns even if your income is below the taxable limit.Please apply for Permanent account number immediately.

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RE:Need some information of Tax Paying.
by Ravi on Jul 15, 2008 03:24 PM  Permalink
Hello Amitabh,
Thanks to your reply.
1)I have a PAN. Now Please tell me the procedure to file the IT returns without form 16.
2)What documents are required to file the IT returns.
3)My employer doesn't give me:
1)form 16 and 2) Salary slip.
Is it required to file the IT returns?

Pls guide me.

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RE:Need some information of Tax Paying.
by Murali on Jul 16, 2008 05:42 PM  Permalink
If your employer does not give Form 16, tell him to issue a salary certificate on company letterhead. This can be used for filing IT return.

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NRI
by suhail ahmed on Jul 14, 2008 11:02 AM  Permalink  | Hide replies

Hi need guidance,
I am an NRI, I have invested some amount in real estate as well as in mutual funds on my family members names, all my investments are not realized yet (i havent sold anything) Am I taxable? How do I file my returns?

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RE:NRI
by Amitabh on Jul 14, 2008 09:35 PM  Permalink
Not taxable and no need to file returns.

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CAPITAL GAINS TAX ON REDEMPTION OF ULIP OF UTI
by friend on Jul 14, 2008 08:59 AM  Permalink  | Hide replies

IF SOMEONE COULD KINDLY ADVISE WHETHER LONG TERM CAPITAL GAINS AND SHORT TERM CAPITAL GAINS ON REDEMPTION OF ULIP OF UNIT TRUT OF INDIA ARE TAXABLE..PLEASE

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RE:CAPITAL GAINS TAX ON REDEMPTION OF ULIP OF UTI
by Amitabh on Jul 14, 2008 09:43 PM  Permalink
Exempt under Sec 10 (10D)

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Filing Income Tax Return -
by Chilukuri Murty on Jul 13, 2008 07:13 PM  Permalink  | Hide replies

I am a salaried person. I have purchased a house by taking Housing Loan from ICICI Bank in the year 2006. I wish to avail the tax benefits given on Housing Loan. ICICI bank has given a statement showing loan deducted during 2007-08. Can any body advise me which ITR form has to be filled and what documents are to be attached with ITR to income tax authoriies ? thanks.

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RE:Filing Income Tax Return -
by Amitabh on Jul 13, 2008 08:22 PM  Permalink
ITR 2 has to be filed. No documents are to be attached.

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RE:Filing Income Tax Return -
by Chilukuri Murty on Jul 14, 2008 06:56 AM  Permalink
thanks. my employer has not deducted housing loan interest and principal amount from my salary. I have to directly claim refund from ITO for housing loan based on ICICI Bank statement.

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Filing Tax returns
by Krishna Tirukonda on Jul 13, 2008 06:22 PM  Permalink  | Hide replies

I recent got PAN no on insistence of my employer. However I income is below the threshold limit of tax. There is no TDS on my salary. I do not have any other income also. Is it mandatory to file IT returns

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RE:Filing Tax returns
by Amitabh on Jul 13, 2008 08:21 PM  Permalink
No,not at all.

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loss on investments
by renu on Jul 13, 2008 06:21 PM  Permalink  | Hide replies

I invested in 2 infrastructure mutual funds last year, but they are trading below original nav. can this be reflected as a loss in my IT return and how?
Rini

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RE:loss on investments
by Amitabh on Jul 13, 2008 08:21 PM  Permalink
No,any loss or gain is notional if the asset/shares/funds are not sold.

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Made a loss in Derivatives
by Ramesh Babu on Jul 13, 2008 09:26 AM  Permalink  | Hide replies

Hi,

I incurred a loss of 20000 rupees in derivatives trading. Can i carry forward the loss. If so how to do that

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RE:Made a loss in Derivatives
by Amitabh on Jul 13, 2008 02:36 PM  Permalink
Yes,it is a trading loss and you can carry it forward. For this make sure you show the loss in your return and file the return in time.

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tax benefits on PL
by Dinesh Parmar on Jul 12, 2008 12:56 PM  Permalink  | Hide replies

Can I get tax benefit on the interest paid for personal loan availed from ICICI Bank.

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RE:tax benefits on PL
by Suman Kumar on Jul 12, 2008 10:40 PM  Permalink
No tax benefit is provided for interest paid on PL.

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