Hi, can someone please tell me about Notification or Circular issued by Income tax on deduction of TDS on Rent including Service Tax.

We are paying Rs. 120000/- p.a. as rent, hence not deducting TDS on it. However, since Service Tax is applicable from current FY, party is charging Service Tax on Rent, but asking us not to deduct TDS, as there is nothing specified in the Act.

Please guide me, urently..

Will the amount paid other than rent to the society under a seperate maintenance agreement qualify for HRA deduction as rent paid under section 10 of the Income TAx Act, 1961.

Hi,

One of my friend stays and has settled down in USA. He has a property in New Delhi and he wants to dispose it off and after paying the required taxes wants to take/have that money in USA.

Can you pls advise on the requirements to be followed as per the IT Act to legally do the above transaction.

Thanks
Hari

Situation is as follows:

If someone has earned Rs. 100000/- from STCG i.e from physical delievry of shares system and in the same case someone has a loss of Rs. 75000/- from inter day speculation or u may say jobbing in share market.Will the loss from speculation be set-off with the income from physical delivery???

What is the tax rate for LTCG in shares???Is it free from tax???
Plz solve these querries...

i have to file income tax return of an educational institution for assessment year 2007-08. The gross receipts of fees & other receipts of the institute amounts to Rs.35 Lacs and the excess of income over expenditure comes to Rs.1.72 Lacs. The institute is not registered u/s 12AA , nor the institution has applied for registration u/s 12AA till date.Please enlighten whether the income of the institution is taxable or whether it be exempt u/s 10(23)(c) of the Income Tax Act , 1961.If the income is taxable then, what shall be it tax liability.

Under the head other sources, what is the exact meaning of the term lineal ascendant or descendant of an individual within the context of the term relative for gift purpose

(STCG)or Short term capital loss may be set-off only by STCG.But this STCG may be of two types i.e.Earned by delivry (Shares transferes) and by Jobbing System.
Now my query is that whether this Jobbing Short term Capital Loss is capable to be set off & C/F for being set-off??
If Yes Whether by
(i)STCG by Delivery System
(ii)STCG by Jobbing System
(iii)OR Both

When a firm declares 8% Net Profit on its gross receipts under section 44AD,what shall be the value of fringe benefit and on what amount the FBT shall be payable?

Dear Sir
We book ticket through Travel Agent he raised bill to us which include Ticket amount + Charge for Service which show separate in One Bill Now question is that
(1 ) we have to deduct TDS on full bill amount OR only Service charge amount and ( 2 )Which amount we consider for TDS DEDUCTION LIMIT means full bill amount Or Service Charge Amount

Rajesh Bajaj

Hi to all!

Pls define speculated income with example

thanx

g.shyam83@gmail.com