My Financial Controller at home Assessment year 2016-2017

Financial controller at home……Assessment year 2016_2017

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I was telling my wife what is Income and that Income Tax is paid on the following heads

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…Salary or Pension for us

Rent received with exemptions of 30% allowed,

Interest of Term Deposits, etc, aobve Rs 10000 per year...,interesr on savings accounts,etc...

Capital gains, etc, on sale of immoveable property,etc,,,

 And exemptions     …deductions….etc…

 ...

Property Tax Paid

Deduction for donations made  under section  80G of Income Tax Act,1961

Preventive Health care  expenses,, Medical Insurance premium if paid, Registration charges for landed property if any bought, etc. under section 80 C,

Slabs for Women,  senior Citizen above 60 Years and others above 80 Years etc…

And I Tax credit Rs 2000 for Income up to 5 lacs   etc and also the need for e filing if the income exceeds 5 lacs and if you have any refunds etc. and explained what is PAN….which she uses as identity while travelling in train..Etc

Various   IT rates 10% upto. Income  5 lacs, 20% upto 10  lakhs,30% above,etc for individuals. .

Surcharge @10% of I tax...for income over 1crore,

Cess @3%...on total income including surcharge...

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Incidentally I told her I have placed order for a book…

Income Tax guide for the Tax payer… Financial year 2015-2016 by Ram Nivas Lakhotia

Through Amazon and said the book will be delivered by 17^th    at home Thiruvanmiyur   against cash payment of Rs 199 that is below Rs 200

I told her if the delivery person comes and asks for signature and Rs 199 for the cost of book…  please pay the amount....she retorted immediately…

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  “””You are getting same Income Tax books three  times  every year…why do  you want it now…???””

She would have confused it with the Bank’s journal Tharangan received free now and then,,,,,or one Malayalam monthly Shruthivani which she cannot read.  

I told her this is the last one please pay the amount when I am not at home…and receive the book…

She kept silent..

I have to wait and see if she takes delivery  of the book  by making payment from her petty cash balance   or not…

This is the Financial Controller since 1974 I have at home… continuing …for this financial year…  2015_2016 also…being spouse and joint account holder….and an IT assessee