Dear Members

Please clarify.i have got a number of answers for this question which is different in all cases.Please clarify whether to be deducted or not with proper supporting like circular or case law!!!

can anyone tell me what is fbt

Sir
can you suggest me the accounting entry of long term capital gain & Loss treatment.

IS EDUCATIONAL LOAN PROVIDED BY THE EMPLOYER TO AN EMPLOYEE EITHER ON INTEREST FREE ON CONCESSIONAL RATE OF INTEREST IS SUBJECT TO FRINGE BENEFIT TAX?

Hi,

one of my client is a trust register on 25/6/2006. The return of income was filed on 31/10/2007 for AY 2007-08. The trust is duly registered u/s 12AA of the act.

Now on 25/4/2008 the officer issued notice u/s 142 of the act asking to submit 1) return of income for A.Y. 2005-06, 2006-07, 2007-08 2) copy of PAN card 3) copy of 12AA certificate 4) minutes books for last three years.

no notice u/s 143(2) of the act is recived intimationg selection for scrutiny.

Now my query is:
Whether the officer can ask submission of minutes books etc. for last three years though case is not selected for scrutiny

2) whether the officer can issue notice u/s 142 only on the basis of registration with trust authority to file return of income though the income does not exceeds minimum exempted limit.

Kindly guide.

With regards
Thanks.

CA Rajesh Sheth

AN ASSESSEE HAD A LAND WHICH IS PURCHASED ON 21/03/1980 FOR RS 50000/-& SOLD DURING THE YEAR F Y 2007-08 ON 28/03/2008 FOR RS 1500000/- BUT ASSESSEE HAD NO ANY INCOME BECAUSE SHE IS A SENIOR CITIZEN AND IN THIS TRANSACTION SHE HAD INCOME OF LONG TERM CAPITAL GAIN EARNED ON 28/03/2008 BUT IN INCOME TAX RETURN INTEREST IS CALCULATED U/S 234A/B/C BUT HER'S INCOE IS ONLU LTG &nO OTHER INCOME SO INTEREST U/S.234A/B/C/ IS APPLICABLE OR NOT

sir i am pid extra tds on salary for the month of march how can i adjust extra tds which is i have paid

How can an assessee pay taxes online if his bank is not providing such facility? Can he pay taxes via cheque?

If an individual is filing his ITR for Income from Business in the Ward as applicable according to Area of business in previous yrs but now he receives Salary income only and has no income from business, where shd he file his ITR for current yr? Will he need to file it with Same ward or in the ward as applicable on basis of employer?

TDS exemption is given for full rate of TDS or it is given as abatement i.e deduction at lower rates than applicable rates?