i want know the factor affecting tax treatmet of NRI(as per IT act) in India who is a cruise member:.....

Can anyone please guide me about the provisions of gift tax. Is gift tax appliable when mother in law transfers her share in the immovable residential property to her daughter in law ? If yes then what is the slab rate and how it is to be computed

I have sold 50000 Pref. shares of JSW Steel @ Rs. 5.30 per shares on 8-1-14 on Bombay Stock Exchange which were purchased by me @ Rs. 4.30 per shares 15 months back.

What will be the capital gain ? Pl. note that there is no STT (security transaction tax) on Pref. shares.

Please advice.

Pankaj Ajmera

A has purchased a under constructed house from builder on 1.1.2011.
Purchase agreement is executed and stamp duty / registration is done on 5.1.2011.
Possession of flat with letter is received on 1.10.2013.
He wants to sell the flat now ie after 10.1.2014.
Whether he will be taxed with STCG or LTCG section 54 benefit will be available

I have a leased property on which I am paying a rent of Rs. 5000/- However I am not using the property and have sub-let the property. I am getting Rs. 11000/- from the rental income. How do i file it in my IT? Under what head do I show the income? What is the amount for which I should file IT, i.e., for Rs. 11000/- or Rs. 6000/- (11-5)k.? Please advice.

Sirs,
Assessee has HUF pan no and bank account since 2007 but he has never filed returns till date as he has only agricultu ral income and gift income from HUF members only.( He also has ancestral immovable property). But the HUF has been using the above income in trading in the share market and the profits/income has been much below the exemption limit/slab always.
However, now the assesse wants to file belated returns for his HUF for 2011-12 and 2012-13 as the income is above the exemption limit. My question is

FROM HOW MANY YEARS BACK SHOULD HE ASK HIS TAX CONSULATANT TO PREPARE HIS BALANCE SHEET TO BE ON THE COMPLETELY SAFER SIDE TO AVOID ANY TYPE OF TAX COMPLICATIONS?

KINDLY ADVICE
THANKS

Sec 40A(3) is applicable on capital expenditure or not ?

Please give answer with example

Dear sir,

Our client return filed in timely.
We intimation received of Interest of 234B and 234C. And it is correct.

Now we deposit the amount .
Now what we do solve this demand whether we revise return or rectification?
If rectification filed than procees to file rectification.

Awating for reply.................

Dear Experts,
I have a case regarding cash payment:-
M/s X co. issue cheque in the name of employee of Rs. 40,000/- for purchasing a Mobile Phone. The employee withdraw the cash from Bank and then purchased a Mobile phone.
The question is that whether this payment is cover under Payment u/s 40 A 3.

If any person has gross receipt of Rs.150000 in f.y.2011-12 for job work done for textile industries. Whether such person is liable to maintain his books of accounts as per Section 44 AA? it is to be noted that he has 101000 income under the head salary also for f.y.2011-12.