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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:

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Ten stocks close to their 52-week low

Ten stocks close to their 52-week low

Following stocks are close to their 52-week low as at 12.15 p.m. on December 9.

Beneficiaries of the cashless mantra trade higher on bourses

Beneficiaries of the cashless mantra trade higher on bourses

There are a host of stocks which are likely to benefit from the governments' big Digital push. These stocks have already seen a big run-up, post demonetisation. However, more upside is left in the stocks.

Ten stocks close to their 52-week high

Ten stocks close to their 52-week high

The markets on December 9 opened up. BSE Sensex is trading at 26779.11, up by 84.83 points and the Nifty is trading at 8266.65, up by 19.80 points. Meanwhile, following stocks are close to their 52 week high as on December 9.

Banco Products runs low after rollback of buyback

Banco Products runs low after rollback of buyback

Banco Products’ board of directors have decided to drop the proposal of buyback of equity shares of the company and decided not to further proceed with the proposal.

Quarterly Result: Jindal Steel & Power Ltd

Quarterly Result: Jindal Steel & Power Ltd

Jindal Steel & Power Ltd., is currently trading at Rs. 73.95, up by 0.85 points or 1.16% from its earlier closing of Rs. 73.1 on the BSE. The company's net loss for the quarter stands at Rs 745.98 cr against Rs 909.53 cr.

Markets @ 11 am: Movers and Shockers

Markets @ 11 am: Movers and Shockers

Following are the top gainers and losers as of December 9. Intellect Design is the largest gainer; whereas MMTC is the largest loser. 

IL&FS Engineering & Construction Company shines on bagging REC order

IL&FS Engineering & Construction Company shines on bagging REC order

IL&FS Engineering & Construction Company (IL&FS ECC) has emerged as the lowest bidder for Rural Electrification Corporation (REC) works worth Rs 225 crore crore in Jharkhand. 

Sheela Foams IPO lists at a premium of 39%

Sheela Foams IPO lists at a premium of 39%

Maker of India’s most loved mattresses brand ‘Sleepwell’ has listed with a massive premium of close to 39 per cent on the bourses. The Rs 510-crore initial public offer was oversubscribed 5.09 times on December 1, the last day for subscription. The issue was opened on November 29.

Tanla Solutions hits new 52-week high

Tanla Solutions hits new 52-week high

Tanla Solutions has hit new 52-week high on December 9. The scrips are witnessing high volume with thirty day SMA of 40.85. The shares of the company which previously closed at Rs 49.95; opened at Rs 51.50 and as at 9.52 am are trading at Rs 57.35, up by 14.81 per cent.

Stock in focus: KPR Mill

Stock in focus: KPR Mill

KPR Mill, which had earlier proposed a buy-back has finally got approval from its board. The scrip of KPR Mill by default is expected to spice up. 

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Shubham Maheshwari Dec 09 12:58PM
Buy ugar sugar work for short term profit
MANISH TYAGI Dec 09 12:54PM
@rajiv Nice timing, swing on tara
VINAY HEGDE Dec 09 12:49PM
PASSWORD iA9u1LVE
rajiv jha Dec 09 12:44PM
Elnet tech for short term
rajiv jha Dec 09 12:43PM
Pincon spirit also good for long term

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