I purchased a flat on 20.07.08 by taking loan from Bank, in addition to other savings. I sold my old house on 27.06.09, recently. Due to sell of house, Liability of long term capital gain tax arises.

My question is- To save the Capital gain Tax, Whether rules allow me to save the tax by returning the loan taken last year from the Bank? I have no other house except purchased last year.

Please advice.

If a company gives some Insurance policy to his employees, then what is the effect for this transaction for both the employer and elmployee for taxation purpose.

are the changes in direct tax to be implemented from 01.04.2009 or from immediate effect . if yes the what abou the advance tax paid and advance FBt paid during the first quarter for the companies. Will the advance FBt be refunded by the IT dept.
Further what about the surchage scrapping.budget says that surcharge need not be deducted but as per the applicability of such budget what about the TDS deductions these all will be deducted without levying surcharge?

Hi, I am a salaried person and i dont have taxable income after all deductions for the year FY 2008-09. Can i file nil return? And also i request to give details for efiling for my tax return.

Thanks in Advance
Srinivas

Dear All,
Please tell me the applicability of amendment made by FB 09-10 .
in case of Direct Tax
In case of indirect tax

How we get the dates of applicability if not mentioned in budget.

Thanks & Regds
Kamal

Is caro applicable to a private limited company which is a 100% sbsidiary of a foreign company if it satisfies all other conditions regarding its status as a private company mentioned in section 3 ?

dear friends,

my firm is a partner ship firm I have paid income tax in cash rs 17000.00 for firm for fy 2008-09 the payment entry i passed is income tax debit to cash cr.

where should i adjust the income tax amount or journal entry if any

under what group should the income tax ledger be created

is it a part of balance sheet in capital ac or profit loss ac as exp.

Regards

Survesh

Sir,
New limit of income Tax or new slab as per according new budget 09 applicable for which Financial Year

fbt is abolished-
Number of companies have paid fbt advance tax for the 1st quarter-

Can we claim refund of advance tax

Q. Which new services has been introduced in finance act 2009 ?