Dear All,

Loss incurred on account of Income received twds Rent on Let Out Property can be mentioned in the declaration given by the company for working of TDS on salary
If Yes than the company can take into consideration the Loss incurred twds Rent on LOP and the same can be set off towards TDS payable arising on salary income

Regards

Ravi Konda

STT PAID ON SHORT TERM CAPITAL GAIN WHETHER ALLOWABLE EXPENDITURE OR NOT FOR F.Y 2008-09? BECAUSE THE AMENDMENT SAYS THAT STT BE ALLOWABLE U/S 36 IF INCOME IS INCLUDED UNDER PROFIT AND GAINS FROM BUSINESS AND PROFESSION.

under sec74 of income tax act 1961, long term capital loss from shares can be set off against long term capital gain,
if an individual has not paid an stt on shares then wheather long term capital loss from shares will be available for set off against long term capital gain???????
but if an individual has paid the stt then wheather set off will be available or not????????

Please explain me provision u/s80LA

How can I check at a glance that all the formulas in a worksheet (whether simetric formula/not)are correctly given or not while I am auditing some calculation in a worksheet? Formula auditing mode (so far as I know) displays the path of the formula given in a particular cell and not that of all the formulas at a time.

While making payment of income tax( on regular assessment)thru e-tax (SBI Online)
due to session expired we could not print challan but tax has credited to Income-Tax & debited to our bank in this regard I would like to know following:

1. How to obtain challan & challan Number.
2. if not able to print the challan how to prove IT that tax is paid.

I have recived 2 monts (feb & march) Rent bill of Rs. 60000/- month Plus service Tax.

I have to deduct TDS on It Or Not.
Bill

Rent Feb & March- 120000
Service Tax 12360
Bill amount 132360/-

Q- Tds deduct or not
Because in 194 I specify if rent Exceeds 120000/-.

Can any one provide the press release or any other document specifying that the form will be applicable only from 01st july 2009.

under sec74 of income tax act of 1961, long term capital loss can be set off against long term capital gain
Long term capital gain from shares is fully exempt
suppose :- an INDIVIDUAL has earn a long term capital gain from building and has incurred a long term loss from the shares so now will that long term loss from shares can be set off against long term gain from building???????
plz do reply it's imp

let me know the tax implication in following case.

my client is providing clearing & forwarding services in india and also getting cleared & forwarded by clearing & forwarding companies outside india.

Situation :
My client got a consignment cleared from custom by an american clearing & forwarding company.
the american company raised a bill for providing service in america but my client credited his account for the bill amount but did not pay in monetary form because there was mutual agreement that my client will provide ticket whenever american company's employee comes in india.
the american company employee came and my client provided ticket and debited his account for the cost of ticket.

Please suggest me tax implication keeping in view DTAA with America.