Hi, If a loan is taken for purchase of a capital asset ( Land), can we include the interest and other charges paid for the loan as part of cost of acquisition and calculate Short Term Capital Gain accordingly?. The land is taken by an individual assessee and the same was sold within a period of three years and hence Short Term.

Sir
i am a contractor in a company previous year company has deducted my tax around 23000 but tax credit statment show only 14000 so how can i revised it my company don't want to revise his return .
dasrath

https://www.caclubindia.com/experts/correction-26q-for-two-qtrs--515810.asp


Is there any need to write a letter of mistake or upgrade/correction statement will do all the records right ?

please explain it.

thanks

respected sir,
plz explain the difecincy treatment from special bussiness under 44A with connec
tion to 28(iii).


regards,
pavani.

For the just concluded financial year ending March 2010, I received Form 16 from my Company. It reflected Incentive paid amount171000 and tax deducted at30%. The company deposited the tax amount of 80,000 and did not pay the amount of 171000 due to me
When this was brought to there notice they said they had issued a cheque and asked me to file my returns as they would be sending the re validated cheque. As soon as I had informed that the returns were filed they just refused to send the revalidated cheque, and the same is held back and are not responding.
But does it not amount to false declaration of income in the Form 16 by the Tax head

what is the course of action I need to take as per law and can I invoke any Income tax rule for misinformation to the Tax authority by the Head of Taxation and Accounts

Can interest under section 234-ABC is payable on demand under section 143(3) made by ITO.

For the assessment year 2008-2009

income tax demand on 143(3) 21504

Self tax paid u/s 140(a) 901

Balance tax payable 20603

Interrst under section 234-B6187

Total tax payable 26790/-

please suggest above interest is right or wrong


Date of assessment order 15/09/2010

our firm angaged in sugar commission agent business during the f.y 2007-2008 we raised commission bill of Rs. 3677383 servoce tax Rs. 441330 and cess&SHE Rs. 13074.5 total Rs. 4131787.5 we not deducted tds from our sub broker to whom we pay commission due to law of turnover below 40 lacs but during the scrutiny of Income tax I.T officer including commussion+S.tax+Ecess & SHE in turnover and liable us to deducted tds and impose a huge tax liabilty upon us add the expenses to our income on which tds to be deduct around 20 lacs while comm figure is 3677383 without service tax . now we want your suggestion how to challange the I.Tax officer through appeal and also suggest us some cases like us and their order result

thanking you

For Payment in U.K, what shouls be the TDS Rate?
In DTAA with U.K rate specified for Tax is 15% and as per 195A it is 40%. However in DTAA there nothing clearly mentioned that 15% is TDS Rate, They have mentioned "Tax shall not Exceed 15%"

Then, What should be the rate?

Dear All,
one of my client have received an intimation u/s 143(1) of income tax act,
the date mantioned on intimation was 14/02/2010 but receive by us on 15/10/2010. the intimation was for the assessment year 2008-09.This intimation was showing a demand of 2,47,000/-.
the reason for demand is not taking the credit of TDS. My client has lost TDS certificate.

I know that the intimation is not valid as per Section 143 (1). Because such intimation should be received till 30/09/2010.

I just want to know what can i do now.

I had brought a residential flat in Jan 2007 for Rs 20,00,000/- and now selling(Nov 2010) for Rs 37,00,000/-. I do not want to reinvest the amount in another house but want to use the full amount for starting a business. How much tax will I have to pay in my case in order to use the full amount.I am presently unemployed since Feb 2010.