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NOTES ON INCOME FROM CAPITAL GAIN

  CA Puneet Jethliya    30 September 2009 at 13:19

TRANSFERIt includes sales, exchange, redemption of zero coupon bonds and sale of anycapital asset with consideration. SHORT TERM CAPITAL GAINFor shares, securities hold for 12 months or less.Other assets hold for 36 months or less.For the following

Posted in Income Tax  18 comments |   79249 Views


NOTES ON INCOME FROM BUSINESS OR PROFESSION

  CA Puneet Jethliya    19 September 2009 at 12:20

Sec. 2(13) defines "business" to include any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture. Sec. 2(36) defines "profession" to include vocation. i.e. income earned not on the basis of prof

Posted in Income Tax  32 comments |   203471 Views