what is wealth tax. today wealth tax is mantadory .what is rules for wealth tax

Dear Friends,

Can anybody guide me whether we can revise Form 15CA already uploaded in the NSDL website as the information was received from the client later.

Himanshu

Hi,

Mr.Prasad estimates his earning as follows. Pls advice on the tax implications

For the year 2011-12

Salaried Income from a UK Company - 23000 Pounds

Tax Paid - 3,105 Pounds
National Insurance - 1,893 Pounds

Salary In India

Rs.36,000 per month.

Assuming he has no other deductions from his income, kindly share the computations of tax and relief thereto :-

1) When he is resident
2) When he is a non residet.

Thank You

Hi, Pls clarify my ques on the foll 2 situations.


1) Indian resident earns salary income in UK(From a UK co).
And tax is also deducted there and there is a DTAA between both the countries. The Resident also earns income here(from an Indian company) and tax gets deducgted here too.

How is relief worked out under Sec 90 and 90A.



2) Assuming he is a non resident, how does the situation differ?

Thank You

Dear Sir........
I have a practical problem of Taxing and accounting OTS (one time settlement) transaction. Plz help me in this regards.

Fact of Case:

Mr A took a loan of40 lac 3 years back. He was paying his EMI regularly. He couldn't pay his EMI for last 6 month so bank has taken OTS route to settle down his existing libilities.

As on 31/03/2011, his balance sheet shows libility towards bank loan is35 lac. As on today he has setteled his case with bank after paying25 lac only.

Questions:

1. How he shall account this things in his book (Accounting point of view only)

2. How to treat differance in income tax. (i.e. whether differance 10 lac is taxable, if yes then under which section, if no then also under which section)

Thanks in advance

Dear all,

please answer that if a private limited company is incurring heavy losses for last two years (since incorporation) and there is no hope of recovery in near future, how can it take the benefit of tax by selling/demerge/amalgamate/any other way itself with any other company.

Dear Sir,
my client had co-owened house property which sold out at 27th dec2011 for Rs. 2900000 and as on 30 jan my client dead.my client rcv 18 lakh and other owner rcv Rs. 11 lakh.
this property purchased on 30/03/2005 for Rs. 1070700.in this situation wat can i do?
i not able to receive any detail from alive partener.
Thanx in Advance..

A company given Plot for to B company And B will give 27% of revenues amount to A. is It Royalty or Sale we consider . what is tax treatment give on payment amount ? TDS applicable under section ?

When we make a provision for employee benefit of Rs.20.00 Lacs in balance sheet but before filing income tax return actual figure comes out to be Rs. 24.00 lacs. then what amount we should take as deduction from our profit. and how we take effect of it in our books of account

IS THERE ANY PROVISION FOR CALCULATION OF LONG TERM CAPITAL GAIN(OTHER THAN SHARES)HAVING TAX @20% WITH INDEXATION AND @10% WITHOUT INDEXATION.