what will be the cost of acquisition if right shares has been suscribed before 1-4-1981

WHETHER SEC 10(33)&10(37)ARE APPLICABLE ON NON RESIDENT ALSO?

respected experts,

iam doing share trading in cash segment (both delivery & intraday), which T.O has exceeded 3crores in 2011-12 A.Y
(my net profit from share trading is 12,000/- only)and normal business T.O is 14 lakhs for the year.

should i do 44AB AUDIT? pls guide.

Dear Experts,

A mine owned by an assessee was taken up by a third party for the purpose of mining. Since the mine was allotted by the government to the assesse, he cannot transfer his rights to a third party as per the agreement with the Government. Hence he joined the third party as a Director and against his rights to the mine, he was paid Rs 75 Lakhs as Goodwill ,which he invested in bonds.

The ITO has not recognised this transaction and they claim that RS 75 lakhs is the salary paid by the third party to the assesse since he is now a director of the Organisation and the amount is taxable.

In my view this transaction is covered u/s 54EA and is not taxable.

Please share your opinions and site case laws,if any.

Regards,

Sukanya

Sir, one of my client is a regular assessee since 2005. Till now, he has paid tax by mentioning his PAN. Now, for the year 2010-11, when he approached the bank for payment of tax, it is noted that his name does not appear for the PAN quoted in the Challan. Some other name is displayed. On taking the matter to the ITO, he advised to apply for a fresh PAN. It may be noted that the assessee is a director in a pvt ltd coy and his digital signature and din is linked with the present PAN,

Kindly, advise what to do.

In ITR 4S form presumptive income where are the details for Section 44AF to be filled?
there is no option provided for section 44AF?

What to fill up against the lines:

Aggregate Income Tax Liability (As Computed, see the table below) :

Total Tax Credit Allowed (As Computed, see the table below) :

The table given below is only till AY 2010-11

If a company Dr. say Rs. 220000 (Including service tax) for some exp. on monthly basis and deducting and depositing TDS thereon on monthly basis but dosen't paying service tax element therein of Rs.20000 monthly and just crediting it to party account.
Then such service tax element for whole year of Rs.240000 (20000*12) will be allowed or disallowed u/s 43B ???

Cost of improvement, too, is taken in the consideration in order to arrive at the long term capital gain in case of immoveable property. How does one prove the expenses incurred in the immoveable property to avail the benefits? What if there are no bills related to these expenses incurred? What if there are many dates/years in which improvements/enhancements were made to the immoveable property? How does one calculate that?

My client has transfer the urban agriculture Land to government of maharashtra through its errigation department but ITO is given notice U/s148 of the income tax act 1961 and ask to pay the capital gain tax on this transaction.