Anonymous
04 March 2011 at 19:48
I was paying an FBT of Rupees 476 in 2008-09. Now when Finance Minister abolished FBT, so my question is that my salary (20k)will cut down to 19k sumthing...
pls. help me
Anonymous
04 March 2011 at 15:21
As I have made appeal in Income Tax department at CIT for disallowing the creditors for the same I will have to represent with the judgement I have heard the M/S punit proteins Judgement has passed Can I get the same
Anonymous
04 March 2011 at 14:56
What is the mean by Tax? under IT Act?
Ashok Kumar Sharma
01 March 2011 at 12:02
Dear Sir,
Please comment on following question.
"QUESTION: I am an officer of a public sector bank. I am getting an amount of about Rs.2.80 lakh as arrears on pay revision from which Rs.40,000 is deducted towards provident fund contribution.
Since I am also using the occasion for availing myself of the option to join the pension scheme, an amount of Rs.1 lakh is deducted from my arrears as contribution to the corpus fund as a condition for availing the option. I am worried whether my employer would consider the gross arrears as reduced only by provident fund contribution under Sec. 80C and deduct tax from Rs.2.40 lakh as my income liable for tax deduction at source.
Since I am not receiving the amount of Rs.1 lakh which is retained towards corpus and in fact I would not receive any part of the corpus except for pension on which I will be paying tax, only the net arrears should be taken into consideration. I would like to be advised whether this is a correct understanding.
I have, meanwhile, addressed a letter to the Income-tax Officer/ Public Relation Officer for a clarification in this regard in order to be able to convince the employer, if he wants to take a line of abundant caution and deduct tax from the gross salary."
RS Dudani
28 February 2011 at 23:09
My uncle purchased a Flat from DDA (Delhi) in June1984 at a cost of Rs. 1.5 Lakhs. He sold the flate in July, 1984 at a total cost of Rs. 32.00 Lakhs. My querries are :
(i) What is the formula for calculating Capital Gain Tax ?
(ii) How Much Capital Gain is due to be paid ?
(iii) By when it is to be paid ?
(iv) A new property is intended to be purchased and it has not been purchased as yet. By when the new property should be purchased to avoid Capital Gains ?
(v)Is there any requirement to keep the money received in a particular Bank or in the shape of some specified Securities /Bonds, till new property is purchased ?
Thanks for advice
Raghav
28 February 2011 at 20:05
Dear Sir,
Now one entity has income tax / service tax exemption under the STPI Scheme till 2010-11 who export the software outside India.
From 2011-12 this exemption is not valid as the period for such scheme not extended by our government.
I need two clarification as follows:
1. I have to know from 2010-11 does he need to pay the service tax on export along with the income tax?
2. How does he work so that he may take the maximum tax benefit because suppose income is 1 crore and the tax will be 40 lacs.
Please suggest me the same.
Rupesh
28 February 2011 at 17:18
I have four counters in companies of coffee and tea. companies deduct service tax(10.3%) and tds(1%). Total receipt in f.y.2010-11 is 60 lakh. Is TIN is mandatory from sales tax department. All material are arrange myself. companies only provide counter's space.
Anonymous
28 February 2011 at 14:04
PLEASE SEND ME AMENDEMENT OF 2011-12 DIRECT AND INDIRECT TAXES
Anonymous
28 February 2011 at 14:01
PLEASE SEND ME AMENDEMENT OF 2011-12 DIRECT AND INDIRECT TAXES
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w.b. value added tax late submission of form 16 for composition scheme
A dealer registered under w.b value added Tax filed all returns in form 15 in due time but he fails to submit the form 16 in due time i.e within 30 june, he files the f-16 in in 31st july. In this regard he was not informed by the sales authority at the time of assessment the ld. officer passed a ex-party order without mentioning the date of serving notice nor the date of adjournment and huge enhancement of tax on the higher % of v.a.t. In this situation does the Appellate authority has the power to modify the order by allowing the Composition Scheme of .25%. Pl help me at the time of answering by mentioning the sections