Monday, April 17, 2006
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Since 1st March, 1999
I purchased Somany Cement shares from the secondary market. Subsequently, the company delisted itself from the bourses. So far, I have received no communication from any quarter. Please let me know what I can do in this matter.
Debasish Mitra on e-mail.
When a company delists, it has to announce a buyback of shares through reverse book-building. Retail investors can sell their shares back to the company promoters through this process. However, this offer is open for a particular timeframe. If the shares you own were delisted long ago, there is little to be done now. You can, however, write to the Securities and Exchange Board of India seeking redressal. You can also approach the company secretary of Somany Cement.
I am 82 years old and hold a PAN card. I have a self-occupied house. My only source of income is pension, which was Rs 1,54,600 for the entire assessment year 2006-07. I have been submitting 'nil tax' returns for the last four years. Do I need to submit the return for assessment year 2006-07'
J.C. Maitra, Calcutta
You will have to submit the return for the assessment year 2006-07 because you own a house property. The one-by-six criteria is in force for the said assessment year. However, from next year, i.e., financial year 2006-07, you donít have to file a return. The one-by-six scheme has been withdrawn from this fiscal.
I am a regular income tax payer and have a PAN. I bought REC Bond of Rs 10,000 to avail of the erstwhile section 88 benefit. However, I had not mentioned my income tax status (whether tax-exempt or non-exempt) by supplying form 15H/15F. The corporation has deducted a TDS of Rs 61 from the interest of Rs 600, though it is less than the interest limit (Rs 5,000 a year) for TDS. May I get back the TDS'
K.C. Rusdy, Rourkela
Keep the document showing the TDS deduction on your interest income from the bond. You can claim the tax refund while filing the I-T return for the assessment year 2006-07 if you don't have a taxable income. You will need to produce the TDS certificate to claim the tax deduction.
If you have any queries about investing or taxes or a high-cost purchase you are planning, mail to:
or write to:
Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001.
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