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

can any one tell me the criteria for scrutiny ?

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 ?

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

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 ?

Is there any concept of Expense Direct.

Or is Direct Expense and Expense Direct Same.
If not what is the difference

MY QUERY IS ABOUT 1% HIGHER SECONDRY EDUCATION CESS.

ON WHICH AMOUNT IT APPLIES ( VIEW THE EXAMPLE AS BELOW)

A CONTRACT PAYMENT WHERE I HAVE PAID RS.100000 @ 2.266 %

AT ONE HAND THE AMOUNT WILL WORK OUT AS RS.22660
RS. 10,00,000.00 X 2.266% = 22660

BUT ON OTHER HAND IT WILL WORK OUT 22600
TAX =10,00,000.00 X 2 % = RS. 20,000.00
SURCHARGE = 10% OF 20,000/- = RS.2000.00
E. CESS = 2% OF RS.20,000/- = RS. 400.00
HSE CESS= 1% OF RS.20,000/- = RS. 200.00

TOTAL WORKS OUT = 22600

WHICH AMOUNT IS CORRECT AS PER LAW
PLEASE EXPLAIN?

If there is no any specific provision of issuing assessment order, whether the department can issue demand note, without issuing assessment order? Whether the department can take this ground that the dealer, if required, may get certified copy of the Assessment Order ny paying a requisite fee?

Can any one tell me what will be the present value of Rs. 100 invested in NSC on 1.04.82?

An early reply shall be appreciated.

With Regards,
Shefali.