Q 1. I have withdrawn the Provident Fund & got the amount credited to my bank account, Whether is their any need of showing as income from other sources & make the Tax payment

No, amount withdrawn from PPF a/c is exempt from tax.

Q 2. For the year April 2008 to march 2009 what is that last date for filing returns for an individual 2.As seen in the quiz if it is July 31 2009 for the above query is the investment after March 2009 counted for tax exemption benefit.

The last date for filing a tax return for 2008-09 would be 31st July 2009. You can file a belated return for that year by 31st March 2011. If the tax return is filed after 31st March 2010, there would be a penalty for late filing of Rs. 5,000. If the return is filed after 31st July 2009, and there is a tax payable there will be an interest payable under section 234A. Further any losses incurred during the year such as a capital loss will be not carried forward unless the return is filed in time i.e. by 31st July 2009. .2) No, Only investments made till 31st March 2009 can be considered for F Y 2008-09.

Q 3. I was working on Rs.40, 000 per month now I have joined a teaching course so I am getting Rs. 11,000 per month so kindly guide me for tax filing.

 The income that you receive from the teaching course would be taxable. If you continue the job and this is merely part time then it may be treated as income from other sources. If this is now your only vocation then it will be taxed as business income. In either case any expenses which re specifically incurred to earn this income can be claimed as a deduction including books, conveyance and whatever else. If your total taxable income for the year is more than Rs. 150,000 you would be obliged to file a tax return as well.

Q 4. If I am a proprietor and I donate some amount to a charitable institution, what should be the procedure to get deduction and how should I pay, whether in cash, cheque or kind.

To get a deduction, the trust or association to which you donate should be certified under section 80G - you must receive the receipt and an 80G certificate valid for the year in which the donation is given. Donation can be given by cheque r by cash withdrawn from your regular bank account. There are no tax benefits for donations in kind

Q 5. I want to make a pan card but I don't have my high school mark sheet. sir I am 17 years old so I can make a pan card after that I will not face any problem

As your income is below taxable limits, it is not compulsory to file a tax return even if you have a PAN Card. However if excess tax ahs been deducted at source and you wish to claim such tax as a refund, you need to file the same. You can, nonetheless, file the tax

Q 6. I am a retired employee and my income (Pension) was below taxable limit. I did not submit income tax return since last 4 years. This year I have got arrear pension payment due to revision of pension. My income this year is above exemption limit and I will have to pay income tax. I am told that Income Tax office does not accept return if return is not filed in the previous year. How can I submit Return this year?

You can file your return even if you have not filed your return for 4 previous years. You may however have to make a declaration to the Tax Office that the reason for not filing a return earlier was that there was no taxable Income.

Q 7. I plan to invest money in bank term deposits. It is usually mentioned that for interest amount earned upto INR 10'000/- there is no TDS. My question is that whether this limit is valid for just one branch of a bank (as advertised at many places) or one has to consider the total interest earned in all the banks/branches where term deposits are held by an individual. In other words if one sees the interest limit surpassing in one branch then s/he should open a term deposit in another branch to avoid TDS. Also, if the latter is true then while filing the Form 15G or H to any branch, whether one should certify the deposit details pertaining to that branch only or all the holdings in various branches. Regards.

As per the law, the TDS limit of Rs. 10,000 is applicable per branch. From a 15G/ 15H perspective however it is the total income which matters and not just income earned from FDs with a particular