One of my relative had purchased equity shares of companies in India 15-20 years back ( in Indian Rupees ) when he was an Indian citizen. Few years back he became NRI , opened an NRO saving bank account linked to Dmat account and got the shares dematerialised.

Since he does not have trading account, transferred his shares ( off market )in my demat account which I sold through NSE and credited proceeds to his NRO account.

Would like to seek guidance on tax payable in either case if any.

sir, if i am discounting my bill thru financer and inwhich i passes my trade(property of bill) to financer and hence the financer directly collect payment from my seller. In this process, the financer cut some amount as a bill discounting and remaining amount pay to me. so, my query is wheter i should deduct tax on charged debited to my profit and loss account under the head of 'bill discount'. in recent judgement of of Kanha Vanaspati Ltd..v.Additional Commissioner of Income-tax, Range-50, New Delhi, kindly clarify considering this judgement. the main problem is how can i deduct tax as i am not directly paying anything in form of bill discounting as the financer cut the same charges and then after giving me a remaining payment

SIR/MAM,
MY QUERY IS RELATED TO SECTION 40A(3) WHICH CASH PAYMENT EXCEEDING RS 20000
I WANT TO ASK THAT IF CASH PAYMENT IS MADE BY RELIGIOUS INSTITUTION OR TRUST EXCEEDING RS 20000 IS COVERED BY ABOVE SECTION OR NOT AND PAYMENT EXCEEDING 20000
MADE FOR PURCHASE OF CAPITAL ASSET IS COVERED BY ABOVE SECTION OR NOT.
PLEASE SOLVE MY PROBLEM AND OBLIGE.
THANK YOU

Sir,
CLEARING AGENT MAKE BILL AS UNDER

SERVICE CHARGES 2400/-
ITC FORMALITIES 5000/-No Proof of voucher)
CONTAINER CHG. 6000/-
CUSTOM DUTY 50000/-
RETENTION CHG. 5000/-

WHAT AMOUNT ON TDS DEDUCT AND WHICH SECTION 194C OR 194 H

no Deduct Income TAx TDS on Mutual Fund brocker commission ? but service tax is deducted.what is the reasons

in case the assessee desires to convey something by the way of seperate note which may be essential , whether it is possible in efiling of return of companies?

Sir,
We e filed a company's IT return electronically on 19.10.2007. But the ITR V acknowledgement was not displayed as the Browser hung up for few seconds as a result of which we could not take the print out.

We tried again and the message displayed was" return filed please file revised return".
What would be the best way to obtain the ITR V . Is there a specific way we can access the site based on the PAN no and retrieve a copy of the ITR V? Aliter is there any help desk at IT office to provide the ITR V?
Regards

WAT ABOUT THE LIVING EXPENSES OF AN EMPLOYEE STAYING ABROAD???? IS IT EXEMPT OR TAXABLE??? IF EXEMPT UNDER WHICH SECTION????

Sir,

A company take a loan of Rs. 100 Lacs for Construction of New Building for Existing Business. Interst of Rs. 15.00 Lacs can Claim as revenue exp.
and what Accouting Standard say for treatment of borrowing cost.
If company capitalise this interst as per Accounting Standard same can be allow as revenue exp under income tax act

SIR/MAM,
MY QUERY IS RELATED TO DEPRECIATION
MY QUERY IS IF LAST YEAR/YEARS DEPRECIATION WAS NOT CHARGED ACCORDING TO THE RATE GIVEN IN ACT THAN HOW IT SHOULD BE RECTIFIED IN CURRENT YEAR.
EG FURNITURE AND FIXTRE IS CHARGED @ 10%
BUT LAST YEAR IT HAS BEEN CHARGED @ 15% THAN HOW IT CAN BE RECTIFIED IN CURRENT YEAR. EITHER IT CAN BE DIRECTLY RECTIFIED
IN CURRENT YEAR BY CHANGEING RATE OF DEP.
OR THEIR SHOULD BE SOME OTHER ADJUSTMENTS.
PLEASE SOLVE MY PROBLEM AND OBLIGE.
THANK YOU