Markets
BSE See NSE See 29,409.52
176.08 (0.6%)
collapse Related Readings collapse

Know Your IT Forms

| 7/11/2013 9:00 PM Thursday

Q 1) I own a residential flat in which my family and I are residing. The flat is jointly owned by my wife and me. A few years ago, I purchased a row house in Talegaon, Pune. The said row house was also purchased in the joint names of my wife and me. In both cases, I am the first holder and my wife is the joint holder. The loan taken for the row house was taken in my name and is being repaid by me. Can my wife and I claim one of the properties each as self occupied property (SOP)?

- Praveen Haldipur

You have not mentioned whether your wife has contributed towards the purchase of the said immoveable properties or not. Further, it is not clear whether your wife is showing the said properties (to the extent of her share) in her balance sheet. Thus, it is difficult to give an opinion in this case. However, prima facie it appears that both the properties belong to you, and your wife’s name was included in the title for convenience purpose only. Hence, based on the present facts, it may be difficult for your wife to claim one of the properties as her SOP.

Q 2) Which are the ITR forms for Assessment Year 2013-2014?

- Nishtha Dongre

Rule 12(1) provides that the return of income required to be furnished under sub-section (1) or sub-section (3) or sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) of the Section 139 or Clause (i) of sub-section (1) of Section 142 or sub-section (1) of Section 148 or Section 153A relating to the assessment year commencing on the 1st day of April, 2013 shall be furnished in the forms specified below:

Find More Articles on: DSIJ Magazine, Tax Queries, Personal Finance, Tax

news letter

More for the early bird.

Get the post-market reports and breakfast news right in your inbox. See latest »

DSIJ
Mindshare

BSE to suspend 7 company’s trading for non-compliance of Regulation 55A

BSE to suspend 7 company’s trading for non-compliance of Regulation 55A

BSE will suspend seven companies from trading their securities on the stock exchange from April 18 for failing to comply with certain rules for two consecutive quarters.

43 CPSEs in the red since last 3 years, informs MoS

43 CPSEs in the red since last 3 years, informs MoS

Babul Surpiyo, Minister of State for Heavy Industries and Public Entreprises, informed the parliament today that there are as many as 43 central public sector enterprises (CPSEs) which includes Air India and BSNL that are making losses over the last three consecutive years.

Skymet Weather forecasts 95% monsoon in 2017

Skymet Weather forecasts 95% monsoon in 2017

According to Skymet Weather forecast, monsoon in India this year is likely to remain below normal at 95 per cent (with an error margin of +/-5 per cent).

Overnight Digest- Stocks to look out for on March 29

Overnight Digest- Stocks to look out for on March 29

The stocks which are expected to witness significant movement on March 29 are Karnataka Bank, Britannia, V-Guard Industries, ICICI Bank, Nestle India.

SBI spends Rs 775 crore to maintain Jan Dhan accounts!

SBI spends Rs 775 crore to maintain Jan Dhan accounts!

The total balance in PMJDY stood at Rs 71,036 crore as on December 28, 2016. Divulging further details, the MoS informed that public sector banks, regional banks and 13 private banks have reported that nearly 95,52,609 accounts were frozen under the PMJDY.

Market
CHIT CHAT

What is your view on markets today?

200  Characters Remaining.
Please LOGIN  to post your comments or Click here to go back.
punkesh kumar Mar 29 01:28AM
How do i buy a stock
amarjeet jaiswal Mar 29 12:08AM
Network 985725 cash balance 1000737.74 my actual balance is what please tell me
shiv kumar Mar 28 08:39PM
What happened to iol chemical??
karthick ponraj Mar 28 04:06PM
Cannot cover short stocks within 4 clock on next day cannot order for short
The King Mar 28 03:24PM
not sure @senthil, each day in mkt is diff.