Hello Sir/Madam,


I own only one house property which is also self occupied .I am vary much confuse that if i sale one self occupied house property than whatever capital gain arise from sale of house property is chargeble to capiral gain?

Thank you Sir/Madam.

1. Profits from Intraday Share trading.
2. Profits from Futures & Option.

Above both are settled without any deliveries

Please provide me the supportings also.

As per Rule26A.

The assessee "MAY" furnish Salaries due or received by him from the other employer to curreent employer.......


Question is,
whether is it necessary to furnish previous employer's salary to current employer for TDS purpose,

if not,

then will it be any non-compliance if employee has submitted last drawn salary slip at the time of his joining & we are not deducting tax on his prevoius salary becoz he has not submitted Form 12B?????

Dear Experts

A proprietorship concern (TRADING FIRM) has taken mortgage loan 80 Lacs @ 12.75 % from a Pvt. Financing Company (RELIANCE)& out of 80 Lacs, Rs 50 Lacs being lend to other Proprietorship firm (MANUF. FIRM) in which his wife is prop.. The said amount is shown in books as "advance against purchase".

The said amount is actually used by other firm for purchasing P&M to enhance the prodn. capacity.

The amount of advance shown being reduced by showing sales & no interest being provided on it.

My Query regarding the matter is:
1. does showing Rs 50 Lacs as advance
against purchase if proper? If not
how it is to be shown?

2. does not providing any interest on 50
Lacs is proper? If not suggest the
correct treatment.

3. does there any income tax implication
in the matter?

4. does the loan taking firm need to
deduct T.D.S on intt. being paid to the
company from which loan taken. Since
the lending Company is a PVT. FIN.
COMPANY (RELIANCE)?

Please suggest & solve the query. Earliest reply is thankful.

MY CLIENT HAS A BUSINESS INCOME. AND INCOME SHOWS 8% OF TURNOVER.HE IS INTREST PAID IS GREATER THAN INTREST RECEIVED ACCORDING TO INDIVIDUAL, HOW TO SHOW G.T.I.

which form is to be issued to an employee whose tds on salary has been deducted by me and who has left his job. whether i can issue form 16 or any other form is required to be issued?

I had been with a company of less than 5 years and my epf amount has been withdrawn. I want to know how is tax calucated on EPF. For eg., the withdrawn amount has following components:
A - My contribution
B - Interest on my contribution
C - Company contribution
D - Interest on company contribution.

Will the tax be calculated on (A+B+C+D)? Also, is some kind of indexation applied over the years?

A man was purchased a land in 2008. he sold this land in 2011 before complete 3 years. It means Short Term Capital Gain. he invested sale amount in construction of house and construction in process. So I want to know that in which section the amount of construction will be exempted..?

Hi to all.....
My Query is
Suppose there are 2 partners in partnership firm and they decide to admit a 3rd partner. During admission of a new of a new partner,existing partners decided to revalued the assets and liabilities of the firm,and after revaluation there is revaluation profit.
And Existing Partners decides to retire from the firm after receiving their respective share from revaluation profit.
So in such case what will be the tax consequeneces?

If the annual receipts of any educational institution existing solely for educational purposes exceeds Rs 1 Crore, is the income subject to tax? can somebody help me with an example?