If a person is not feeling to file his/her return..although he is taxable income is uder exemption limit..i.e. 110000Rs..but he/she has short term capital gain..on sale & purchase of asset on which STT has been paid

Is it mandatory to file the return

His total income..by clubbing short term capital gain + normal income less thn exemption limit.

Dear Sir

My company is showing medical reimbursement @ rs. 1250 in my pay slip. whether I have to produce the medical related bills on the monthly basis or I can submit once in a year.

A Company has given a contract to Contractor for construction of office building for Rs.10 lakhs. Is it company has to be deduct the TDS on contract charges?

Plzzzz....Guide me.....Whether Hire charges of machinery and Equipments for the purpose of construction should be capitalized or not?

Husband's(H) gross income is much higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H). H opens FD with bank & invests remaining part of that money in stock markets on his name. Bank deducted TDS with H PAN and all transancation done in stock market are with H PAN.

Is there anyway that the income from FD and stock market investments can be reasoned as belonging to W for income tax purpose? Please note that H's individual gross income is higher than W's individual gross income.

can anybody confirm that whether surcharge is leviable if the Payment or INCOME of party does not cross the respective limits of 1 crore and 10 lacs.thanks in advance

if LIC Premuim paid by husband,wife can claim under sec 80C

My friend had sold a old land long term asset and invested for the construction of house in kochi during the financial year 2007-08. Problems is whether that amount should be used for reconstruction/construction of house? how can it treat with preparing total income during the financial year 2007-08. It will be taxable during the year.The old value (93-94) around 1.8L and the current sale value Rs.10L. How can it treated in Total income statement 2007-08, how was the treatment or any exemption there ?what is your suggestion on this matter.

Pls urgent

In various TDS returns, we have to give details of the deductor of tax as well as the details of the person responsible for deducting the tax.

My question is, in case of a company which has deducted tax at source, what is to be stated in case of details of the person responsible for deducting the tax? The company itself? or an individual in the company? In case of individual, his personal address has to be given or his official address?

It is important to note that a company is also a person as per Income Tax Act.

Regards

Sanjay Govil

On a single invoice party charge cost of material and separately charges labour charges. suggest whether TDds to be deducted on whole invoice price or on cost of labour only