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Messages - B Natarajan

Discussion / Re: Lawyers With The Highest Income
September 22, 2012, 07:03:08 PM
TDS has not been considered which means the income would be more than what is stated here
Discussion / Re: Wealth Tax advise
March 17, 2012, 09:17:56 PM
If you have let out the house for a minimum period three hundred days  in the previous year, then you need not include the same in the net wealth [section 2(ea)(i)(4)]. You can also claim exemption for the self occupied house.
Interest u/s. 234B will be charged on the assessed tax as per order u/s. 143(3) less tax portion included in the self assessment tax as per section 140-A from 1st April of the Assessment Year to the date of completion of assessment.

Interest u/s. 234C is chargeable only on the returned income.

B Natarajan
Discussion / indexation for SBI Infrastrucre Bonds
July 27, 2011, 11:53:22 AM
My client has invested Rs. 25000/- in SBI Infrastructure Fund Series - 1 in the FY 2007-08 and he has redeemed the same in FY 2010-11after 3 years. Please let me know if the benefit of indexation is available for these bonds.
B Natarajan
One of my clients made payments in cash exceeding the limits to co-operative sugar mills. The stock has been duly brought to account and sale and profit have been properly accounted. The Assessing Officer on reassessment proceedings has made disallowance u/s. 40A(3) and also levied penalty u/s. 271(1)(c). Is the levy of penalty u/s. 271(1)(c) valid? If there are any case law please provide the same.