| I am 60 years old, retired and entitled to pension. Shall I get rebate under section 88 for income from MIS and interest on bank deposits? |
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Gautam Chatterjee, Calcutta |
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| Rebate under section 88 is received on investments made in specified instruments. Income from MIS and interest on bank deposits is eligible for deductions under section 80L up to an amount of Rs 12,000 and additional Rs 3,000 for interest on government securities. |
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| Bonus benefit |
| Can indexed long-term capital loss be set-off against long-term capital gain by selling bonus shares? |
K. S. Roy, Calcutta |
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| Long-term capital gains can be set-off only against long-term capital gains. It can be carried forward separately for eight subsequent assessment years. |
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| Withdrawal symptoms |
| I had opened my PPF account on August 1, 1988. Then I renewed for a further further period of five years on August 4, 2003. I now have a balance of around Rs 21,000. Can I withdraw Rs 18,000 from this account? |
A. Banerjee, Calcutta |
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| In case of PPF accounts, one can withdraw 50 per cent of the balance amount of the preceding year or 50 per cent of the balance that you had four years back, whichever is lower. Thus you cannot withdraw Rs 18,000. It has to be the lower of 50 per cent of Rs 21,000 or the balance which you had four years back. |
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| Dividend drop |
| I have got 100 shares of Hero Honda. Although I have received the interim dividend, I have not yet received the final dividend declared by the company. Please suggest what to do now. |
D. Pramanik, Jamshedpur |
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| In the event of non-receipt of dividend, the shareholder has to write to the Registrar of Companies mentioning all the details. Since Hero Honda has its registered office in New Delhi, you will have to write to the Delhi office. |
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| If you have any queries about investing or taxes or a high-cost purchase you are planning, mail to: btgraph@abpmail.com, or write to: Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001. |
