Hi,

I want to know the whether Surchage is applicable or not on FBT if my Total Income doesnot exceeds Rs. 1 crore.

Dear all

My client could not file his personal return (ITR-1) ON 31.07.08 & he has paid excess TDS,Can he get refund if he file his return on aug-08

as per rule 28 of the income tax act, on apllying the Form13 they will issue a certificate for not effecting TDS or at lower rate i.e., at the average of the average rates of tax paid by the assessee in the last three years;

My question is: our company is started only 2 years back and sustaining losses and for this year also loss is expected.
Is there any mandatory requirement of atleast three years of existance of company is required to apply for Form13?

My client has not file return for the previous year 2006-07 and he has paid excess tax by way of TDS.Now he want to file the said return and wish to claim refund.....My query is a) Can he claim such refund and if yes under which section? b)Hw it can be claimed (procedure)? c) What is the Role of Form 30 and it is used?

GD evening sir,

sir my query is related to Applicability of Surchage on TDS Rates

AS PER PROVISION IT HAS BEEN WRITTEN THAT WHEN AMOUNT OF PAYMENTS EXCEEDS RS.10 LAKH,

Sir i want to knw that for applying Surcharge on TDS whether we see AMOUNT OF PAYMENTS MADE TO DEDUCTEE OR INCOME OF DEDUCTEE???????

whether we will check the income of deductee(when it exceeds Rs.10 lakh)for applying surcharge on TDS Rates?

Hi,

Do I have to pay income tax on interest received on savings bank account?

Thanks,
Abhishek

Hi,

I have income from
a. Salary,
b. Bank Interest (SB a/c and ICICI Bank Bonds)
c. STCG (Equity and ESOPs)

I want to know:
1. 10% surcharge on income tax is applicable when total income exceeds 10Lacs? Is this correct?

2. Total income will contain a,b and c above less rent paid as HRA, conveyance allowance and any other deductionf from section 10. Is this correct?

Thanks,
Abhishek

Q : Whether the Director's Sitting Fees is liable to TDS u/s 194J if yes, then why not the same has been followed in routine by the companies?

whether tds will be attracted on referrel bonus?
if applicable what rate will be applicable?

Hi,

Can anyone help me in usnderstanding following:

1. I buy and sell shares on NSE and pay commission and STT on both sides of transaction. Can this STT be deducted from my STCG that I make in this process?

Suppose I buy 10 shares of company XXX for Rs 10/- per share. I pay Rs 1000/- for my purchase and additionally pay commission of Rs 5/- and STT of Rs.5/-. So my total cost becomes Rs. 1010/-. Now if I sell these 10 shares after 10 days for Rs. 15/- per share and make Rs. 1500/-. I again pay a coomission of Rs. 5/- and STT of Rs. 5/-. So by total inflow is Rs. 1490/-.

Now, is spent Rs. 1010/- for buying the shares and got Rs. 1490/- when I sold all. So my Short Term Capital Gain (STCG) is Rs 480/- (1490-1010).

Is this correct? If not then can anyone please explain what my STCG using above example?

Thanks,
Abhishek