I am a Salaried employee having income more than taxable limit. In addition to that I have Income from other sources (bank Interest, FD interest etc) and also long term capital gain and Short Term Capital Loss from Equities (Shares) . Can I carry forward the Short Term Capital Loss in the next year or I am required to set off against Long term Capital Gain?

If a Salaried person is having Short tem Capital Loss and Long Term capital Gain from Shares (Equities), Is that person required to set off the Short Term Capital Loss against the Long term Capital Gain? Or the short term capital loss can be carried forward and has to be set off against STCG from Shares in the next year?

Q.1 If I am not sure about my professional fees receipt that it will cross 10lacs or not?
So should I charge SERVICE TAX from day 1 or not. & if I pay service tax and at year end my professional fees receipt does not exceed 10 lacs. Then shall I get refund of the service tax I paid?

Q.2 If for example my professional fees receipt is 13 lacs for year so should I have to pay service tax for full 13 lacs or the balance i.e 13 lacs – 10 lacs i.e only on 3 lacs. As there is rule no service tax upto 10 lacs.

I am an individual doing both Business & Profession and my Turnover in Business does not exceed 40 lakhs and my turnover in profession also not exceeding Rs10 lakhs. But altogether it is exceeding rs40 lakhs .Will I come under tax audit ?

Please answer me ...


Regards


Chittaranjan

Is customs Duty Applicable to Software??
if yes
Our company imports Software licenses from Microsoft all transaction are through online only. they receive the License online and they transfer it to Reseller for a commission.
weather Customs duty is applicalble for such transactions??
The Company Chages both Sales tax (VAT) and also Service tax,(not WCT)
VAt at State rates
Service tax @ 10%+3%

Please Clarify weather Customs duty is applicable..

whether stipend is a taxable income or it is exempted??

Could i deduct TDS for payment to printing stationary expenses ? , pls. guide me urgently

We are engage in mold manufacturing.

Apart from this we also do modficiation activity when it comes after use from customers end.

For modification we are using material hardly 5% of order value.

What is the tax liability of this modifiation activity under VAT.

Pl provide information.

Dear Sir/Madam

Our organisation is having VAT Credit of Rs.90 lakhs. During the VAT Audit Department restricted some input credit on ineligible items to an extent of Rs.5 lakhs. In addition to that they imposed penalty and interest on the said 5 lakhs rupees.

My question is can we set off the payable amount of Rs.5 lakhs against the input credit of Rs.90 lakhs ?
Can we set off the penalty and interest against input credit rather than paying the penalty and interest in cash/cheque ?

Pls clarify ASAP how can we fight with the department with respect to penalty and interest ?

what is the way a senior citizen (78 Yrs)who has never been assessed to Tax and who does not possess a PAN card place deposits of over Rs 50,000/- with a company. I am told, that even if form No. 60 is submitted companies do not accept the deposits on the ground that PAN card is must.

Kindly clarify.