TDS is Tax deducted at source, so in case you work with one of the Indian clients in the future they will deduct this amount from the payment that they are going to make for your services. Also i would recommend you not to file it yourself as you need to prepare income and expenditure account, capital account and a Balance sheet at the end of the year
Reply vandana shah January 25, 2014 i have two flats adjacent to each other having single door entrance and single kitchen but the flats have two separate agreements. Rgds mm Reply Soubhagya Kumar Patra June 7, 2014 Hi MM, If your wife is showing half of the rental income then she should show half of the losses from the house property as well
In this scenario, can I get tax benefit on HRA and also house loan on 2 houses; as one property is let out and another is vacant.? Reply Soubhagya Kumar Patra February 13, 2015 Hi Sanju, You may get HRA exemption benefits, but you need to show both houses as let-out and pay tax on the same. If existing sources (PF plus Insurance) are already fulfill this; there is no further benefits you will get by claiming principal re-payment towards borrowed capital for housing loan
The Tax Center, Income Tax Help from TurboTax - DailyFinance
Next Page TurboTax Articles What is IRS Form 8824: Like-Kind Exchange Ordinarily, when you sell something for more than what you paid to get it, you have a capital gain; when you sell it for less than what you paid, you have a capital loss. But if you immediately buy a similar property to replace the one you sold, the tax code calls that a "like-kind exchange," and it lets you delay some or all of the tax effects
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Find a VITA or TCE Site Near You VITA and TCE sites are generally located at community and neighborhood centers, libraries, schools, shopping malls and other convenient locations across the country. At select tax sites, taxpayers also have an option to prepare their own basic federal and state tax return for free using Web-based tax preparation software with an IRS-certified volunteer to help guide you through the process
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As long as you have the option to ignore it and pay somebody else to do your taxes (or do them yourself) why would you oppose it - unless, like Intuit, this is how you make your living? Seriously. Roughly 25 million Americans used TurboTax last year, and a recent GAO analysis said the software accounted for more than half of individual returns filed electronically
Publication 17 (2014), Your Federal Income Tax
If your Form W-2 shows an incorrect SSN or name, notify your employer or the form-issuing agent as soon as possible to make sure your earnings are credited to your social security record. Individuals Serving in Combat Zone The deadline for filing your tax return, paying any tax you may owe, and filing a claim for refund is automatically extended if you serve in a combat zone
If your taxable income for the year was below Rs 2 lakh but the bank deducted tax at source on your interest amount, you can claim a refund by filing your tax return. I am planning to visit Europe on tourist visa where they require income tax returns also, how should i file my ITR if money earned outside India is not taxable
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June 15, 2015 Tax Tip: Reminder - Monday, June 15, 2015, is the Deadline for Self-Employed Individuals to File Their 2014 Income Tax and Benefit Return 11:01 a.m
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