Rural Agriculural Land is excluded from the definition of capital asset and hence sale proceeds of such land does not come under the purview of Capital Gains.

However

is such income exempt from tax i.e. shouldnt it be taxed under some other head as it is not a Capital Asset and has generated income just like the other items that are being excluded from the definition of Capital Asset

Sir,
What will be the fate of premature surrendered value of a pension plan taken from an insurance company. Also please tell us what is the tax implications on a single premum policies will the maturities will become taxfree or not.

For PY 07-08 for the first half , my client was employed with XYZ company and came in the 10% bracket.

However in the 2nd half,my client was employed with another company and came in 20% bracket.


But when I add the gross incomes,my client came in the 30% bracket and was liable to pay sm amt.....
is it correct????


So how will the computation of income be ?

salary for the month of December is booked on 1st of January and paid on 15th of January

Tax deducted on 1st of January itself

TDS is to be paid on which date?
Whether on 7th of January or 7th of February?

Tax on total Income = Rs 377513
TDS deducted=Rs.366078

what will be the interest to be paid u/s 234b & 234C in case of Individual.Please provide along with necessary calculations

I want to know about tax on short term capital gain when excluding the short term capital gain from the net taxable income is below the exemption limit.
For example: income from other sources is Rs.50500 & STCG is Rs. 140000/-.
and the assesse is individual
plz calculate the tax from this example

hi friends
i am submitted tds return 24q wrongly
wrong means
i have submitted wrong deduction under head medical insurance employee deposited premium rs 1985 and deduction should be 1985 but i shown in retun of rs 10000 pls solve my query as soon as possiable
and what should i do. i will have to give form 16 so pls sove my query

my query is

one of my clent`s father(Mr. X) has died in june 2008.
mr. x did not had PAN but tds was deducted by some govt authority in 2007-2008 without quoting PAN.

now what is the procedure to get refund of tds??
wheather his son has to apply for pan in the name of late mr x?
or he can file return as representative without mr x`s pan?

plz guide me.

SUPPOSE MR. XYZ IS UNDER AUDIT (SECTION 44AB) FOR FY 2007-08. NOW HE TAKES LOAN FROM TATA MOTOR FINANCE (WHICH IS DIVISION OF TATA MOTORS LIMITED)IN APRIL 2008. HE HAS TO PAY 23 EMIs OF RS. 43000 EACH. OBVIOUSLY EMI INCLUDES INTEREST PORTION. IS MR. XYZ LIABLE TO MAKE TDS ON THIS INTEREST PORTION ?

Has the provision of issuance of TDS Certificates by the deductee been removed from AY 2009-10 onwards?

Please reply soon this is really urgent