How was INCOME TAX today

Page no : 5

Kushal (Article) (77 Points)
Replied 12 May 2010

well y will it be deemed to be let out.. mere splitting of house in 3 units for theire own purpose will not effect from IHP.. i took it as 2 portions one let out and the rest i took as let out property

1 Like

jatin kapoor (CA FINAL) (1586 Points)
Replied 12 May 2010

Originally posted by : ashfaq
	ques 2. Please bear with presentation

i think ur calculation in hp is wrong and also business income

CA Abdul Haseeb (Employed) (147 Points)
Replied 12 May 2010

i dont think the paper was really easy... questions like 2, 3(a), 4 and 5 too needed conceptual clarity.. and 4*4 tho wat laga di.. one question out of portions.. the oly thing easy was vat and st

CA Ruben Balooni (Professionalism ™) (1324 Points)
Replied 12 May 2010

what about TDS on company deposit?

contribution to pension fund lic?

CA Abdul Haseeb (Employed) (147 Points)
Replied 12 May 2010

wat do u people think abt 3 a

chetan jain (cj) (203 Points)
Replied 12 May 2010

@ kritesh yr kaunse unit 2 ki baat kar rahe ho...??? huf wale ques ki baat kar rahe ho kya???

CA Ruben Balooni (Professionalism ™) (1324 Points)
Replied 12 May 2010

^ yes

Kritesh Tiwari (CFP) (109 Points)
Replied 12 May 2010

Originally posted by : chetan jain
	@ kritesh yr kaunse unit 2 ki baat kar rahe ho...??? huf wale ques ki baat kar rahe ho kya???

Yup!!!!!!!!!!!!!.............

@ gunmaster....

comp deposit mai tds kaha se aaya......

ded milega.... Chapter VI a mai..

chetan jain (cj) (203 Points)
Replied 12 May 2010

@ gunmaster maine to intt frm co deposit ko income frm other source mai add kiya h coz it is nt dividend...

aur ek galati kar di pension fund contribution is not deducted u/s 80 c aur wo maine add kar di...!!!

Kritesh Tiwari (CFP) (109 Points)
Replied 12 May 2010

whole paper was based on Conceptual...................

I did so many conceptual error.......................

please someone slap.. meeeeeeeeee..

I need it..

chetan jain (cj) (203 Points)
Replied 12 May 2010

yr koi bol raha h pension ka deductio milega aur koi bol raha h nai milega....!!! wat da hell is dis???

CA Abdul Haseeb (Employed) (147 Points)
Replied 12 May 2010

pension there is sure deduction

CA Ruben Balooni (Professionalism ™) (1324 Points)
Replied 12 May 2010

Originally posted by : abdul haseeb
	wat do u people think abt 3 a

income to be clubbed = 440000*(200000/1100000) = 80000

income :-

business = 440000-80000 = 360000

ltcg = 500000

Tax will be

on ltcg = 500000*20% = 100000

on balance income = 360000 = 26000

total tax = 126000

edu. cess + shec = 3780

net tax payable = 126000+3780 = 129780

advance tax intallment =

1st = 30% * 129780 = 38934

2nd = 60%*129780-38934 = 38934

3rd = 100%*129780-38934-38934 = 51912

chetan jain (cj) (203 Points)
Replied 12 May 2010

@ abdul agar aisa h to cadbury to u frm my side kyunki mai deduct karke aaya hu...!!!

Kushal (Article) (77 Points)
Replied 12 May 2010

Originally posted by : GuNmAsTeR-G9!
	Originally posted by : abdul haseeb wat do u people think abt 3 a income to be clubbed = 440000(200000/1100000) = 80000 income :- business = 440000-80000 = 360000 ltcg = 500000 Tax will be on ltcg = 50000020% = 100000 on balance income = 360000 = 26000 total tax = 126000 edu. cess + shec = 3780 net tax payable = 126000+3780 = 129780 advance tax intallment = 1st = 30% * 129780 = 38934 2nd = 60%129780-38934 = 38934 3rd = 100%129780-38934-38934 = 51912

Nope . wrong. . Advance tax need not be deducted for CG until last chapter.. Assesee is not liable to deduct tax for deducting casual income/capital gains