Income Tax QnA - Page No 25778

Respected Sir,
Wheather Insurance Premium paid on car on 1-3-2008 of Rs.12000/- [for period 1-3-2008 to 28-2-2009] is allowed fully in the year of payment or proportianetly as a prepaid in the next year.

As per the Act it says it is allowed in the year payment.

Thanking You

ATIT D SHAH

13 October 2008 at 17:19

criteria for scrutiny

can any one tell me the criteria for scrutiny ?

ATIT D SHAH

13 October 2008 at 17:02

default for payment of int on tds

is an assesse does not pays the interest on tds on which he is liable to pay because of late payment to the credit of central government, than what are its consequences ?

ATIT D SHAH

13 October 2008 at 15:41

cenvat credit

whether cenvat credit of vat and central excise is available in service tax ?

Tushar

13 October 2008 at 15:26

long term capital gains tax

Hi All,

I sold a property on 24-Apr-2008 and I want to pay my Long Term Capital Gains Tax. Can I pay it online from
https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp
In the Form CHALLAN NO./ITNS 280 What should I select (100)ADVANCE TAX OR (300)SELF ASSESSMENT TAX

Please advice and explain.

Warm Regards,
TR

ATIT D SHAH

13 October 2008 at 15:06

section 54F

assesse has got the long term capital gain of 1400000/- on a plot of land in f,y. 2007-08, but till now he has not purchased any new residential property till now date nor he has invested any amount in capital gain scheme in any nationalised bank.., so is there any other option available to the assesse for saving himself form the long term capital gain ?