Hi,

I am having STCL & LTCG from share trading. As per the recent amendment in Budget, can I add STT to purchase value and deduct STT from sales value and calculate STCG / LTCG accordingly.

Dear Experts,

What shall be rate of TDS for NRI who does not have/does not furnish PAN?

Request you to give your expert advice after considering section 195, 206A and section 90 of Income Tax Act 1961.

Thanks in Advance.
Juzer

1)Hello sir my grand father died in this year he puted two fd in icici bank, and that was due in sep.Or oct. My queation is we was gave form for senior citizen for nt dedut tds but bank did mistake and they didnt submit my tds form. And i loss of tds amount is 2400,he saying that they provide tds certificate. But i havent pan number of grand father because they didnt apply, so what i do? Can i apply 4 new pan number?Or any other option 4 recover my tds amount?Please say me.

2)Sir, my father is working person in private company , if i will use of him name for tds i want to file revise return and 2nd thing f.D intrest income is also add in my father income so its taxeble amount for my father and my father paid tax is 30000 this year mean 2009-10 and i m thinking if i will apply grandpa name of new pan card and then claim for tds in It and after 1 year ya will recive amount of tds & i will close grandpa bank account too after then all i will surander pan card .Is this posible?

A waiter has received during the year amount which is less than rs. 50000 from his customers as tips. provided that his other income exceeds basis exemption limit please tell me in which head this income is taxable and why?

hank you sir

whether tds u/s 194c on shipping freight applicable?

tds on individual transpoter is 1% befor 01/10/09.or 2%?

can we calculate tds qtr wise insted of month wise being tds not deposit in govt account.i.e july to sep 09.

whether we have to 1st qtr return submit or not because no payment credit u/s 194c.

plz............reply

sir.

Dear Sir,
The AO intends to treat total cash sale as bogus and wants to add it under sec 68 as unexplained cash. We have already shown it as income in our books and have produced sales tax returns for the same. The sales are for AY 07-08 and the purchasers were not found by the AO item being iron & steel. Now he intends to disallow sale and add back the same u/s 68 and also to increase the stock by that value. The stock details show the actual movement of the stock but as the unit is a trading unit and not registered under excise, the records are not accepted as genuine by the AO. AO has also verified the stock statement from the Bank which has given CC limit tothe assessee and has foung it to be in agreement with the books. He still wants to add double the amount of cash sale, once as stock and other as unexplained cash.
What remedy is available to the assessee??
Please provide reference of case laws if any.

R/ Sir,

i want to know about WCT ,
1. IN WHICH CONDITION IT IS ACCLIBLE
2. WHAT RATES OF IT
2. WHAT IS PROCESS OF FILLING WCT ,E FILLING

desperately waiting for your reply.

Best Regards

MY FRIEND PURCHASED LAND IN 1992. IN 2008 ENTERED INTO DEVELOPMENT AGREEMENT WITH SHARE OF50 -50. TOTAL NO OF FLATS 14 AND LANDOWNER SHARE 7 FLATS.

MY QUERY IS HOW TO CALCULATE THE CAPITAL GAINS. LANDOWNER WANTS TO KEEP 2 FLATS HIMSELF AND BALANCE FIVE ( 5 ) TO SELL.
WHAT IS THE SYSTEM TO CALCULATE THE CAPITAL GAINS.
PLEASE LET ME ADVICE THE CALCULATION OF CAPITAL GAINS TAX ON SALE OF FLATS / LAND DEVELOPMENT.
WHETHER LAND OWNER TO INCORPORATE THE VALUE OF CONSTRUCTION FOR 5 FLATS OR NOT.

Hello everybody,
i am auditing a public co. the client use to deduct TDS amount exclusive of service tax.
But as far as i know they should include service tax for deducting TDS.
please help me out also give reference of any circular/notification which will be useful
thankyou

A Company allotted Restricted Stock Units (Under ESOP) to its employees, with a lock in period of 5 years. Now that FBT is abolished and these stock units are to be treated as remuneration and is to be taxed in the hands of the employees, the question arises at what point of time does the taxability of these units arise,
a) On the vesting of the options with the Employees or
b) On the ultimate delivery of the shares to the employees after lock in period.

There was no benefit and the value of the benefit was unascertainable at the time the options were vested/exercised.

In CIT vs. Infosys Technologies Ltd. (2007) it was decided that since the benefit of the options which arose on the date of vesting/exercising was only a notional benefit & during the lock in period the possession of the shares remained with the employer & it was not possible for the employee to know the future value of the shares allotted to him on the day he exercises option, this could not be treated as a benefit & TDS need not be deducted.

But this is a case law held before the FBT regime came into force.
I would like to know if I can keep this case law as the basis & postpone my tax liability or is there another dimension to this. Kindly share your valuable opinion.