was the depreciation @ 50% allowable on plant & machineries purchased after 31-03-2004 but before 31=03-2007 unde tufs scheme

One my client deposit rs 15000,10000 & 10000 in name of House wife's persnal savings.
A O added in income and tax applicable rs 3500/-
and AO Attach notice with Assement order u/s 143(3) for penalty u/s 271 1(c)

Pls provied me formate & suggetion of don't penalty impose thanks

I have turnover from retail business of Rs. 20 lacs and wish to declare income Rs. 2 lacs i.e. more than 5% of Gross Receipts for the A.Y 2010-11. Suggest me should I give figures of SD SC Stock Cash GR GP Exp NP u/s 139(9)(f) in ITR?

Suppose an employee is engaged at a rate of Rs 5000/- p.M. + DA + Special allowance.
Whether P Tax is deductible on 5000 or amount after considering DA + Special Allowance.
Futhur if the same employee is present only for 15 days in the month and get 2500/- as his wage payment. in which amount PTAX shall be dedctible 2500/- or 500/-

Assessee is having following stock in physical form:
80000 purchased in 1992 @ Rs.100
10000 shares issued as a right shares in 1997 @ Rs.300

Now asseessee want to sell 25000 shares. Can he sell 10000 shares out of right issue and 15000 out of shares purchased in 1992?

In nutshell my question is if securities are in DMAT form it is mandatory to follow FIFO method. Whether same principle applies to shares held in Physical Form or is it possible if i am having different certificate i can sell any shares at any time without following FIFO method

HELLO EVERYONE ,

I HV A QUERRY REGARDING APPLICABILITY OF TDS ON FREIGHT REMITTANCE TO A FOREIGN CARGO (IT INCLUDES BOTH AIR CARGO AS WELL AS SHIPPING CARGO) COMPANY IN US WITH RESPECT TO IMPORT OF GOODS.....

KINDLY HELP IN SOLVING IT....
ALSO I M MORE CONCERNED WITH AIR CARGO......

THANK YOU

If a bill, due for payment which is liable to TDS, has been credited in books on 10th July whereas the tax has actually been deducted at source on 16th august and correspondingly deposited before 7th September!

My query is whether it would be said to be NON COMPLIANCE OF LATE DEDUCTION OF TAX OR NON COMPLIANCE OF LATE PAYMENT OF TDS AS WELL?

PLEASE REPLY

DEAR MEMBERS,
THIS IS PARAMJIT SINGH. I HAVE HAVING CONFUSING IN SPECULATIVE BUSINESS INCOME AND NORMAL BUSINESS INCOME. PLS SEE THE BELOW MENTIONED:
THE ABC & cO. A PROPREITERY CONCERN HAVING BUSINSSS OF ACCOUNTING SERVICES. AND SIDE BY SIDE THE PRORIETOR DO SPECULATIVE TRADIGN FUTURES IN NSE FO AND MCX. THE THING IS THAT HE DO SAID SPECULATIVE TRANSACTIOS THROUGH HIS PROPRIETORSHIP CONCERN'S AND NOT IN HIS INDIVIDUAL NAME. SO THAT THE INCOME FORM THAT SPECULATIVE TRANSACTIONS ARE REFLECTED IN HIS ACCOUNT BOOKS OF PROPREITORY CONCERN.
SO FIRST OF ALL
1. IN IT RETURN HOW IT CAN BE BIFURCATED THE NORMAL BUSINESS INCONME AND SPECULATIVE BUSINESS INCOME.
2. CAN THE PROP. SET OFF HIS PREVIOUS YEAR LOSSES IN SPECULATIVE BUSINESS (WHICH HE HAVE DONE ON INDIVIDUAL NAME) FROM CURRENT SPECULATIVE INCOME WHICH HAS DONE IN PROP. CONCERN NAME.

PSL REPLY

WAITING FOR YOUR REPLY
THANKS
WITH REGRDS
PARAMJIT SINGH

our firm paid Rs 20,200/- in single payment in cash towards transport charges on this tds will be dedcuted or not and it is pad to a single transporter

Mr. A purchase house property in the year 1979 and transfer the same in the name of his elder son Mr X in the year 1991. Mr A has three son X, Y, & Z. Now the propery will be sold and sale proceed will be distributed equally to three son X Y Z.

How the tax will be effected and what tax planning should be done