if son transfers his income to his parents than whether clubbing provision apply???
can he be exempted from clubbing if gift deed is prepared and transfer become irrevocable??

MY QUERY IS WAT SHUD I DO WITH LONG TERM LOSS?

1)SHUD I C/F IT IN NEXT YEAR N USE IT FOR NEXT 8 YRS AGAINST LONG TERM GAIN WICH MAY ARISE WICH IS ALREADY EXEPMT U/S 10(38)??????

2) WAT IS THE TAX RATE ON STCG ON SHARES FOR AY 12-13?

PLS REPLY AT THE EARLIEST,THANKS IN ADVANCE
EMAIL:samruta1feb90@gmail.com

My company didnt pay me anything for the days I worked in the month of May in my full and final since the notice period was not served. But still the salary for May is added into my Form 16 and tax was calculated on that amount. They say the part not paid is also taxable since it was my gross income although the amount was not paid. My question is in such case even when salary was not credited is tax payable on that amount

"liability of AOP/BOI " Vs "liability of the FIRM".whats the difference?

I have applied PAN for One of Korean Staff (on 08/08/2011) whose Surname is two character which is considered as INITIAL / SPECIAL CHARACTER in income tax data base, which is why his PAN is pending for more than One Year.

Now he has to apply for VISA extension but authority is not allowing him for extension with out PAN and he gets only two months to get his PAN.

Kindly suggest how do i get PAN for him.

If a person having NRO account with a bank wants to transfer funds into NRE account, whether he is required to issue Form 15CA and obtain certificate in Form 15CB ? Please guide and also please tell me any other formalities to be complied with.

234E - Fee for defaults in furnishing statements- If a person fails to deliver or cause to be delivered a statement within the time prescribed, he shall be liable to pay, a sum of Rs 200 for every day during which the failure continues. This provision is applicable from 1st July 2012.

Now my question is - will this section be applicable for any of the Quarter of F.Y. 2011-2012 i.e if any person who fails to deliver the Quarterly statement relating to F.Y. 2011-12 within the time prescribed and the person submits the statement after 1st July 2012. Then will this section be applicable to that person and penalty of Rs 200/- per day will be levied.

Sir, one my client is Flat owners association, regd society, got PAN for submitting the same to bank while making the fixed deposit. pl clarify whether its income is taxable, it has Rs80000/- ecess of income over expenditure (including the accrued interest on FD, for the year 31.03.12.

Mr X has purchased a flat in his name. He has also obtained a loan in his name for this purchase. Mr X is holding 60 % in his company Mr X Ltd. The payment of loan is being made by company only. As a result deemed dividend u/s 2(22)e is attracted. To avoid this, can we show that the company has purchased the flat , and it is held in the name of shareholder ?

We will disclose this fact in the notes. We will treat this as an investment and not claim depreciation u/s 32. Kindly advice

i have lost my password to login income tax site and at the time of reset password options are changed now:

1)Secret question
2)Acknowledgement No of A.Y.11-12 + Bank account last 6 digits
3)Pan Card details

Now, my problem is i dont remember the secret question, by using pan card detial option they send the password in my email ID registered in PAN which is not known to me, and the last when i m entering my Acknowledgement no and bank a/c no an error showing mismatch in ack. no is showing which i cross check is absolutely correct.

hence, i m unable to reset my password.

Plz help.. its urgent