author : Anil Kumar Kedia

Posted On : 8/27/2008 11:01:51 PM

My question is that one person or firm is income form interest that is upto Rs. 10-15 lacs then what tax adudit provision will be applicable for the person means turnover limit. please advise.Thanks.


If Interest Income is Above 40 Lacs Tax Audit Is Applicable.

My question is that one person or firm is income form interest that is upto Rs. 10-15 lacs then what tax adudit provision will be applicable for the person means turnover limit. please advise.Thanks

respected sir ,
my query is that whether we can revised return of TDS,

as currently we r conducting the audit of parties, some times we found certain amounts credited in the months of march08 in the parties accounts on which TDS was deductible but has not been deducted.

so as per the latest TDS provisions we can deposit TDS befor the due date of filling of income tax return i.e 30th september 2008

nd till tody date of filling of TDS return has been pasd, so nw parties are askinf for remedies,, wt to do nw?

Income on Intra day in shares

Whether treated as speculation profit or non-speculative profit

Actually we have deducted tds from various parties under different sections for the financial year 2007-08.
However, we didn't remitted the same to central government within due dates.But we have deposited on 31st march,08 as a whole.

We are in dilema how to file return for the a.y 2008-09.

Please advise me sir.

Regards
Ram kumar

My client purchased a plot in the year 1988. But till the year 2004 no construction was done on the plot. As per the norms of the Haryana Urban Developement authority, if construction is not done,an extension fee is charged every year for extending the time period of construction. If the extension Fees is not paid then the possession of the plot will be taken by HUDA. The Plot was sold in the year 2004. My question is
1. whether the extension Fees is a part of Cost of aquisition or not ????
2. The Extension Fee will be treated as penalty or not ???

Hi!

Please help on the following :

1. Weather gift is revocable transfer or not?

2. Weather will is a revocable transfer or not?

3. Please consider the following example and give suggeestion accordingly-
"Suppose Mr. X transferd a asset to Mrs. X, who later on sold the asset. Capital Gain of Rs. 100000 arised when asset is sold."
Now in whose hands such capital gain will be taxed?

Please help me as soon as possible


Kunal Agrawal
kunalagrawal@aol.in
91-99295-03735

a assessee is retired govt. employee,doing regular trading through broking agency (daily & intraday).How to
treat it,ie
> as an investment or a saperate business????
> surplus to be treated as SHORT TERM capital gain or PGBP??????

Whether prior period expense is allowed and income is taxable under the IT Act.

Mr. kalpesh borrowed a sum of rs. 30 lakhs from the national housing bank towards purchase of a residential flat. the loan amount was disbursed directly to the flat promoter by the bank. though the constuction was completed in may, 2008,repayments towards principal and interest had been made during the year ended 31.3.2008.

in the light of the above facts, state

a) whether MR. kaplesh can claim deduction under section 24 in respect of interest for the assesesment year 2008-09;

b) whether deduction under section 80c can be claimed for the above assessement year, even though the coustruction was completed only after the closure of the year.
pls solve this querry as a student. becuase i want a systematic ANS.