Regarding Calculation
This query is : Resolved
29 December 2007
How to Calculate interest U/s 234 B& C in income Tax Act ?
31 December 2007
Int.U/S 234A-For Late Furnishing the Return
Int.U/S 234B-For Shortfall of Tax
Int.U/S 234C-For Late Depositing the Tax
For understanding with a example see the shared files or give me ur e-mail ID
Int.U/S 234B-For Shortfall of Tax
Int.U/S 234C-For Late Depositing the Tax
For understanding with a example see the shared files or give me ur e-mail ID
09 August 2008
Resected sir,
i am T.S.Mohana Harish, from Madurai Tamilnadu. I am a CA student. I would like to know how to calculate tax on income from Shares? 1. What is speculative income ? & how the income derived from seculative transaction is Treated for income tax purose ? what is F& O ? and how it is calculated? How to write the journal enteries in Tally when a Person buy or sell the shares. if security transaction tax is to be levied on short term gains from shares ? can we claim any rebate u/s 88 for the Payment of STT or should we have to pay Tax ? if it is a short term. what about long term gain ? I came to know your e-mail id through my friends. I think You would help me and i will be in touch with you . I am expecting your feedback from you.
Thanking,
T.s.Mohana Harish
e-mail- harish_ts1984@yahoo.com and harishca1984@gmail.com
i am T.S.Mohana Harish, from Madurai Tamilnadu. I am a CA student. I would like to know how to calculate tax on income from Shares? 1. What is speculative income ? & how the income derived from seculative transaction is Treated for income tax purose ? what is F& O ? and how it is calculated? How to write the journal enteries in Tally when a Person buy or sell the shares. if security transaction tax is to be levied on short term gains from shares ? can we claim any rebate u/s 88 for the Payment of STT or should we have to pay Tax ? if it is a short term. what about long term gain ? I came to know your e-mail id through my friends. I think You would help me and i will be in touch with you . I am expecting your feedback from you.
Thanking,
T.s.Mohana Harish
e-mail- harish_ts1984@yahoo.com and harishca1984@gmail.com
09 August 2008
Respected Sir,
Please answer the following Tax Queries. I will be thankful to you.
1. My Father has sold a resident house which was kept vaccant for more than 4 years in his town. The house was given by his father in 1982 to my father. My Grand Father is no more. The legal document are in my father name from 1982. The resident property was sold for Rs.4,60,000/- in F.Y.07-08. The same amount was deposited in Capital Gain account scheme in december 2007. And he has created a HUF (only PAN applied) under which status it is Taxable (i.e.Individual or HUF). Is interest received from Capital Gain account scheme is Taxable or Exempted. If it's exempted under which section till now my father did not purchase a Resident house. Now he like to claim the invested amount under which section can he claim the deposited ("Capital Gain Account Scheme Rs.4,60,000/-) amount. What is the procedure for creating HUF? (already only PAN is applied). Please help me.
2. My Grand Father has deposited in my name. Now I am 20 yrs when I was minor (is in UTI Childrens Tax Free U/s.64 & ARS Bonds) for Rs.50,000. I have been receiving every 6 month the interest. Before the maturity date the entire amount deposited is UTI (Childrens Tax Free U/s.64 and ARS Bonds) are withdrawn i.e. the entire amount Rs.50,000/-. Myself have separate PAN & Regular return Filing Assess. What is the tax treatment & to whom it is levied? Rs.50,000/- is only the principle amount.
Please answer the following Tax Queries. I will be thankful to you.
1. My Father has sold a resident house which was kept vaccant for more than 4 years in his town. The house was given by his father in 1982 to my father. My Grand Father is no more. The legal document are in my father name from 1982. The resident property was sold for Rs.4,60,000/- in F.Y.07-08. The same amount was deposited in Capital Gain account scheme in december 2007. And he has created a HUF (only PAN applied) under which status it is Taxable (i.e.Individual or HUF). Is interest received from Capital Gain account scheme is Taxable or Exempted. If it's exempted under which section till now my father did not purchase a Resident house. Now he like to claim the invested amount under which section can he claim the deposited ("Capital Gain Account Scheme Rs.4,60,000/-) amount. What is the procedure for creating HUF? (already only PAN is applied). Please help me.
2. My Grand Father has deposited in my name. Now I am 20 yrs when I was minor (is in UTI Childrens Tax Free U/s.64 & ARS Bonds) for Rs.50,000. I have been receiving every 6 month the interest. Before the maturity date the entire amount deposited is UTI (Childrens Tax Free U/s.64 and ARS Bonds) are withdrawn i.e. the entire amount Rs.50,000/-. Myself have separate PAN & Regular return Filing Assess. What is the tax treatment & to whom it is levied? Rs.50,000/- is only the principle amount.
29 March 2009
Is your query still pending, then please send me a PM.
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Guest
(Expert)
11 November 2009
Agree with all experts. then Why Querry is pending??/
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