Markets
BSE See NSE See 28,278.36
375.70 (1.35%)

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

collapse Related Readings collapse

DSIJ
Mindshare

Mid-market commentary Aug 30

Mid-market commentary Aug 30

Indian markets saw a gap up opening, followed by previous day’s recovery and positive closing in other global markets. The benchmark indices are nearly 1 per cent up where Nifty  has hit 8700 mark; and Sensex has gained 300 plus points at 28200 levels. Midcap has hit 52 week high at 13181 levels.

RCF's scrip crumples after disappointing Q1FY17

RCF's scrip crumples after disappointing Q1FY17

Rashtriya Chemicals and Fertilizers (RCF) has declared its Q1FY17 results on Monday. The company’s revenue has decreased by 15.54 per cent to Rs 1541 crore in Q1FY17 as compared to same period in previous financial year.

Top Gainers and Losers of Mid Day

Top Gainers and Losers of Mid Day

Following are the top gainers and losers of Aug 30. V Guard is the top gainer; whereas RCF is the largest loser.

BNP Paribas LT equity fund: doubled investors' money in 3 years.

BNP Paribas LT equity fund: doubled investors' money in 3 years.

Globally even as the asset management industry keeps evolving and is being remoulded by various aspects including the rise in passive investing, India's mutual fund industry continues to reward investors.

DHFL continues to touch new highs with 2nd immediate NCD offer

DHFL continues to touch new highs with 2nd immediate NCD offer

The housing finance company, Dewan Housing Finance Corporation offered Rs 10000 crore secured non-convertible debentures (NCDs) on Aug 29, which got oversubscribed on the first day itself. Amongst the subscribers, the  institutional, corporate, and HNI categories got fully subscribed while retailers subscribed nearly Rs 1900 crores of Rs 3000 crore limit.

Jubilant Life Sciences' shares injected with vitality

Jubilant Life Sciences' shares injected with vitality

Jubilant Life Sciences, the BSE 200 stock is no mood to compromise. The scrip of the company on Aug 30 has rallied over 5 per cent on an intraday basis. This month was quite favourable for the company, as in the entire month company managed to grab the investors’ attention. 

eClerx Services enthralls with strong Q1FY17 and announces buyback plan

eClerx Services enthralls with strong  Q1FY17 and announces buyback plan

eClerx Services’ revenue has increased by 14.08 per cent to Rs 340 crore in Q1FY17 as compared to same period in previous financial year. The company’s EBITDA too has risen by 20.72 per cent to Rs 126 crore in Q1FY17 on a yearly basis.

M&M loses market share steadily over the years

M&M loses market share steadily over the years

Experts believe the slowdown in sales for Mahindra models has been due to price correction and discounting done by the rivals like Ford and Maruti Suzuki.

DLF comes out with flying colours in Q1FY17

DLF comes out with flying colours in Q1FY17

India’s largest real estate firm, DLF has posted impressive numbers in this quarter. In Q1FY17, company has posted a net profit of Rs 283.04 crores, which has increased by 82 per cent as compared to the Q1FY16.

Markets to open positive tracking strong global cues

Markets to open positive tracking strong global cues

Indian markets recovered in the afternoon session post three straight downbeats. Benchmark indices hit marginal gains amid short covering where Nifty retained 8600 mark. Media, Auto, Infra and Metal sector drove the move. Midcap closed in line while Smallcap remained flat.

Subscribe to
Newsletter

news letter

More for the early bird.

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

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.
Satyajeet Deshmukh Aug 30 02:28PM
buy mandhana industries , you will be able to buy them if someone is selling it out, which at the moment peoples wont sell. try your luck. strong share
Ronak sharma Aug 30 01:24PM
how to cancel our order ??
gn rao Aug 30 11:56AM
Which stocks are giving dividends for 10 years? And within Rs.250????
siddheshwar prasad Aug 30 11:20AM
no one can be provide in india.
Aniket Samanta Aug 30 11:14AM
Buy Alpa Laboratories @31.50 Target 40