in case of a person who regularly buys and sells shares and also in derivatives.,i would like to know if the sale consideration from the transatcions are to be considered for the limit of sec 44ab or the net profit from such transactions are to be considered forthe 40 laks limit
2) even if there are a lot of transactions running into crores can they still be considered as short term or long term gains
3) now because fo sec 43(5)derivativs are not considered as speculation, so what does this mean that income from derivatives are always to be considered as business income/loss
please let me know urgently
thank u

Dear Experts,

Pls.let me know when expenses are disallow u/s 40(a)(i).

Pls.explain in detail,if possible bec's I am very confused.


Regards,
Prakash Jasani

Dear Expert,

I have invested money in SIPs on an annual basis for the purpose of S-80C. I would like to know what will be the tax implications when the money will be redeemed after a lock in period of 3 years or when i sell the units after the lock in period?

Dear Expert,

I have invested money in SIPs on an annual basis for the purpose of S-80C. I would like to know what will be the tax implications when the money will be redeemed after a lock in period of 3 years or when i sell the units after the lock in period?

4 DOCTORS ARE MAKE PARTNERSHIP FOR HOSPITAL PROFESSIONAL FEES PAID TO EACH DOCTOR OF RS.250000/-AS A VISIT FEES IN THE HOSPITAL & CONSULTING FEES ALSO WHETHER TDS IS TO BE DEDUCTED ON VISIT FEES OR NOT HE IS ALSO A PARTNER IN THE FIRM

If any person has sales more than 40.00 lacs of shares and net profit from share trading below 40.00. Is a person needed tax audit. What is a defination of turnover if he calculate profit as business or capital gain.

Dear Sir
Plz cal Capital Gain as detail is as follows
Purchase date-18-06-07
Purchase Price-485000
Stamp fees-29100
Puchase Comm-29100
Sale Date-09.01.2008
Sale Price-650000
Stamp fees-45500
Sale Commission-27500
it`s urgent plz help me
thanks

Hi

could you Please provide me the step to calculate the deffered tax liability and assets calculation.

HI ALL

CAN I TAKE CREDIT OF SERVICE TAX ON INPUT SERVICE THROUGH PHOTOCOPY OF BILL/DUPLICATE BILL
IS ORIGINAL BILL NASSERY FOR SERVICE TAX CREDIT ?
PLEASE GIVE ME NOTIFICATION NO.

One of the information asked in Shedule AIR(Annual Information Return) of ITR.s is - Cash deposits aggregating to ten lakh rupees or more in a year in any savings account of a person.



My question is :


1)Does cash deposits include cheque deposits / Online transfers also ?


2)There are people who draw Net salary more than ten lakhs per annum which gets deposited into their SB Account. In such case do they have to disclose the salary amount so deposited into SB Account?



Please quote reference of books/sections/rules/case laws/websites if possible.


Thanks.