Shares transactions are done through out the year. The assessee is a salaried employee. Sale of shares during the year exceeded Rs. 1 crore. Should the assessee go for tax audit. Whether the I. T. Dept. can say that dealing in shares is his business and not his investments.

hi all
if i received any subscription from any no profit organisation supose he gave me a weekaly magazine.Is there any TDS, I deduct the payment as a tds or what treatment should i do

is the service tax paid on rent is deductable expenses for the purpose of computation of income under the head income from house property

Whether the accident compensation received from Insuarance Co. exempt from Income Tax? If Yes,please let me know the section?

I am individual having business turnover below the taxable limit. I have not received the TDS certificate till now from one of my vender. so my return is getiing delayed.
I want to know what will the conciquenses be if i fill my return after due date that is after 31th July.

whether STT is disalowable as espenses on transfer while calculating Capital gain on both Purchase and sale i.e STT should not be added to the cost of acquition of investment and sale consideration should be taken as without deducting STT ? and
under which section ?

Dear Caclub user,

Whether a person working with employer other than Central or State government is entitled to Leave salary exemption on leaving the organisation voluntary within eight(8)months of joining it under Section 10(10AA)(ii) of the Income Tax Act?
If possible please provide case law in support of the answer.

As per sec 32 addl depn of 20% eligible for plant & machinery - in case put to use for less than 180 days eligible for deduction at 10%. For eg. if I have taken 10% of Rs.250000, actual cost of P& M installed on 1st Nov 05, I will be taking 25000 deduction in 2005-06 and another 25000 deduction in 2006-07. Is that correct

Hi,

My client is wholesale dealer in red chilly. They purchase RED CHILLY from farmer on sale or return basis. when they make the payment the same is made in CASH and amount paid is excess of 20000/-.In this case does it gets covered under section 40A(3 ) and 20% are disallowed. I think payment made to farmers in excess of 20000/- are allowed. Could you please let me know the correct solution.

income earned as commission on insurance is taxable under the head of salary or any other pls help