how much tax do abc has to pay if profit is btwn 20-25 lac. also note -
1) shpr has already deducted tds of rs. 1.50/2.0 lac while making payment to xyz
2) advance tax paid is 75000/-
3) expenses wl be around 4-10 lac.

so do they hv to pay any more tax?

pl adv.

xyz is forwarding co. xyz's shpr is again a forwarder or sometimes direct shpr. when he raises invoice on this shpr or forwarder, that invoice includes ocean freight, thc applicable and documentation charges charged by the s/line. while making payment shpr or forwarder deducts 2.27% tds from the gross amount and gives the payment. 1) is it correct? 2) is this xyz comes under service tax bracket? its business is only adding profit margin in the ocn frt charged by the shipping line and quoting the same to the shpr or forwarder. pl guide.

Hi..
Is gift in Kind is exempt from a non-relative.
If Yes then, what if i gift gold worth Rs 5,00,000 to my frnd. Will that be exempt?

If No then at what value tax will be levied.

ONE PERSON BORROWED A SUM OF RS.300000 ON 1/6/1998 ON INTEREST @ 12% P.A. TO CONSTRUCT HOUSE PROPERTY. AS THE HOUSE PROPERTY WAS STILL UNDER CONSTRUCTION, HE BORROWED ANOTHER SUM OF RS. 200000 ON 1/4/1999.@ 12% P.A. THE PROPERTY WAS COMPLETED ON 31/8/2002 AND "IF" IT WAS SELF-OCCUPIED W.E.F. 1/9/2002. THE FAIR RENT OF THE HOUSE IS 10000 P.M.

Q.1 ] WHAT WILL BE THE INCOME UNDER THE HEAD INCOME FROM HOUSE PROPERTY FOR THE A.Y. 2008-09.

Q.2 ] WHAT WOULD BE INCOME IF THE AMOUNT BORROWED ON 1/4/1999 WERE RS. 1200000 INSTEAD OF RS. 200000.

Q.3 ] HOW MUCH INTEREST CAN BE DEDUCTED FROM "NAT ANNUAL VALUE" (WITH KEEP IN MIND THAT UPTO 1/4/1999 ANY PERSON CAN GET DEDUCTION OF INTEREST UPTO 30000
IN CASE OF SELF OCCUPIED PROPERTY).

THIS PROPERTY IS ONLY LET OUT [LOP].

we invested in weekly dividend income plan mutual fund on 01-04-07 and redemed the amount on 30-06-2007. we earn dividend income during the period april to june. Whether the dividend received is exempt or not. please confirm.

abc is propreitor firm. pl adv -
1) in wat way he can reduce tax liability if his income is say 20-25 lac?
2) is gift gvn to his parents, taxable ?
3) loan gvn to o/sider is taxable ?
4) this proprietor has taken loan for his house, wl repayment of that loan treated as expense??
5) if this proprietor pays rs. 6 lac to some person, under wat head it can be shown as an expense and how much minimum tax has to be deducted?

pl adv.

rgds
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please solve my doubt

my Brother has joined recently as a salaried employee
he has taken personal accident insurance
means money will be received onkly on accident or death

means it is not like Life insurace
so
can he claim DEDUCTION for PERSONAL ACCIDENT INSURANCE

please solve soon

the company is having the main source of income by its ordinary business which is mentioned in its MOA/AOA and having also trading income of shares in its books of accounts.
What will be the tax treatment of income from shares in the computation of income ?
Whether it is treated as income from normal business income or speculation business income?

1. When Investment In shares by a indivisual is treated as Speculation Income?
2. Is the indivisual has his own option of claiming it as STCG or Speculation Income?
3. If an indivisual investor both take delivery & make intraday purchase & sale of shares whether he is taxable under both the head or which is benificial to him.
4.please tell me the date & no of such CBDT circular.

Dear All,

I have the following querry:

A company has created a parri passu charge on its assets by way of Security Trustee Agreement between Company, Trustee and Secured lenders. There is a limit defined in the STA agreement upto which a Company can create a charge. It is the first charge on Company 's receivables that is registered with ROC as per the provisions of Sec 125 of the Companies Act 1956.

Now if the Company wants to create a second charge on its receivables in favour of the lenders and it will be registered with Security Trustee by way of an Accession Agreement, whether this charge has to be registered with ROC again and if not what are the implications for the same?

Rgds,
Rajan Kapoor