Suppose Mr A gifts 100 shares of Reliance bought at 100 Rs to his wife(Rs 10K). 6 months later wife receives 1:1 bonus declared by Reliance. Post that she sells original 100 shares @ 40(Rs 4K). And later in the same year she sells the bonus 100 shares @ 50 (Rs 5K). If clubbing provisions are applicable, what profit/loss will be clubbed with husband Mr A and what will be income/loss for wife in her own A/c.

I am a professional person and driving the income from my profession. In previous two year I had leveled the service tax in my invoice same had been issue to customers.
Now current financial year I will able to get the actual payment from these customers.
My question is whether I should file the return after making the payment of service tax or any other way should relief me. If I get the receipt without service tax amount then ok for me or it will trouble for me.
In current year I will not cross the services tax limit Rs.10 lac.

Please guide me this matter.

While reading newspapers many a time I noticed a word " Rupee Guideance " especially in case of IT Cos. In todays paper also it is mentioned that "IT Cos should do well because of rupee depreciation but te important thing to watch out for is the guidance given by them."

Can anyone guide on thiis term Rupee guidance and related topics???

My company has taken a goods carriage vehicle on hire for a year on contract, the rent payable is weekly.

Suggest me whether the TDS is deducted U/s.194C (Contract) or U/s.194I (Rent)????

How to compute capital Gain? what is the procedure pls let me know with example

D LTD issued 10000 equity shares of rs 10 each at a premium of 20%.the share amount was payable as
on application 2
on allot.. 5(inc premium)
on first call 3
on second " 2
applications were received for 14000 shares and the shares were alloted to applicants on prorata basis . E who was alloted 300 shares failed to pay the first call. on his subsequent failure to pay second and final call his shares were forfeited. out of the forfeited shares 200 shares were reissued @rs 9 per share.
WAT IS THE AMOUNT OF CAPITAL RESERVE? PLS EXPLAIN METHOD OF CALCULATION

When I had first registered as an article assistant I had to fill and submit Form 102, Form 103, Form 112(as I'm also doing a regular B.Com. course).Even though I'm registered before 1st apr' 2008.
Now I want to take transfer from the firm and join another firm.
My question is when Itake a transfer will I have to submit Form 112 again or will my previous statement stand valid?

PLS CONFRIM WHICH IS CORRECT CALUCATION OF INCOME TAX. ON THE INTERNET WE FOUND TWO DIFFERENT INFORMATIONS

(A)
If the assesse claims any rebate/ exemption, the claimed amount will be deducted from his income with reference to the law of Income Tax Act before calculating the tax
(B)
This deduction is termed as Rebate. Rebate is a reduction from income tax liability and not a deduction from income


Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Income Tax @10% 11407
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Tax Payable (1) 3407

OR

Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Taxable Income 106066
Income Tax @10% (2) 10607

PLS CONFRIM WHICH IS CORRECT CALUCATION OF INCOME TAX. ON THE INTERNET WE FOUND TWO DIFFERENT INFORMATIONS

(A)
If the assesse claims any rebate/ exemption, the claimed amount will be deducted from his income with reference to the law of Income Tax Act before calculating the tax
(B)
This deduction is termed as Rebate. Rebate is a reduction from income tax liability and not a deduction from income


Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Income Tax @10% 11407
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Tax Payable (1) 3407

OR

Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Taxable Income 106066
Income Tax @10% (2) 10607

PLS CONFRIM WHICH IS CORRECT CALUCATION OF INCOME TAX. ON THE INTERNET WE FOUND TWO DIFFERENT INFORMATIONS

(A)
If the assesse claims any rebate/ exemption, the claimed amount will be deducted from his income with reference to the law of Income Tax Act before calculating the tax
(B)
This deduction is termed as Rebate. Rebate is a reduction from income tax liability and not a deduction from income


Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Income Tax @10% 11407
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Tax Payable (1) 3407

OR

Total Income 264066
Less: No Tax upto Rs 150000
Net Taxable Income 114066
Rebnate on PPF Deposit
@20% on Rs.40000/= 8000
Net Taxable Income 106066
Income Tax @10% (2) 10607