Hi,

One of my client is a outsourcing company wherein they supply manpower to corporate where the employee are on the payroll of my client in turn my client received the payment from the corporate. I would like in this case will it be covered under profession or contract for the purpose of TDS.

As per my opinion the Expected Tax Rate Slabs for the cooming Finance Bill, Act 2008 will be as under:(individual only)

For individual(other than women & senior citizen):

upto Rs.1,25,000- tax rate-nil

12,5001-1,50,000-tax rate-10%

1,50,001-2,50,000-tax rate-20%

2,50,001-10,00,000-tax rate-30%

Above-Rs.10,00,000-tax rate-30%

surcharge being same as 10% in case of total income exceed Rs.10,00,000. Edu cess being constant at @ 3%

For a women being age below 65yrs.

upto Rs.1,65,000-tax rate-nil

1,6,5001-2,50,000-tax rate-20%

2,50,001-10,00,000-tax rate-30%

Above Rs.10,00,000-tax rate-30%

surcharge being same as 10% in case of income exceed Rs.10,00,000.

Edu cess being constant at @ 3%

For senior citizen (Age remain 65yrs. or above)

upto Rs.2,05,000-tax rate-nil

2,05,001-2,50,000-tax rate-20%

2,50,001-10,00,000-tax rate-30%

surcharge being same as 10% in case of income exeed Rs.10,00,000.

Edu cess @ 3%.

post your's opinion in this regards is it (A)Good, (B)Better, (C)Best,

(D)Not Bad, (E) very Rediculus.

from umashankar vaishnav

C.A.-Final

while filing revised return , the original copy of first return should be enlosed or not?

I have incurred a loss of narly 2.5 to 3 lacs in recent stock market crash.
whereas I have earned profit on sale of property ( short term capital gain ) of Rs 2.5 lacs in current year.
Kindly advise how I should compute my taxable income.

Can I set off stock market loss against my profit on slae of property

There is a partnership firm which is subject to tax audit.It has already electronically filed its Income Tax Return.Is it necessary for the partners of the firm to e-file their individual income tax return? The partners have already submitted their individual return in paper form for the A.Y.07-08.Should they again e-file their return?

What is the TDs rate to be deducted for non resident individual when there is no agreement with the non resident and the pyament is advance amount

What is the TDs rateto be deducted for non resident individual when there is no agreement with the non resident and the pyament is advance amount

please tell me the last date for filing the IT Return of an individual for A.Y.2007-2008 with interest

Q: can loss from businees(non speculative) or H.P can be set off from lottery income??
I have a book of Mr. ajay jain, in which a question contains that:
" LOSSES CAN BE SET OFF AGAINST WINNINGS OF LOTTERIES, HORSE RACES ETC."
AND FURTHER A PRACTICAL QUESTION THAT IS
Q112 Mr X won lottery of Rs. 10000, but incurred a loss of rs. 7000 in non speculative business. on how much income is liable to pay tax?
Ans: 3000 as per answer given in his suggested answers


I am not agreed with this, what ur opinion?

when there is no deduction allowed u/s
80 p in 2006-07 financial year for urban coperative bank ltd.then how its income gets exempted which u have last replied as follows
"which of you earnd that is important if urben co-op bank earns interest then it exempted from tax "
sir what means bank earns interest.
on which investment
or
loans sanctioned
does it gets exemption.
pls let me know it will be immense help for me for tax planning.
what is the meaning earns here