Dear Experts,

Whether LTCG on sale of shares & securities is taxable under the MAT or not?
pls.confirm.

I also need guidance note for MAT & computation of MAT, if anybody have pls.very urgent

Pls.reply asap.

Regards,
Prakash Jasani

Email ID: prakashjasani_56@rediffmail.com

Sir, one of my client had commenced windmill project during the year 2006-07 from april 07. He had claimed depreciation @40% instead of 80% and for the balance income after deducting the above depreciation he had paid Income tax. Whether can he claim depreciation @ 80% for the FY 2007-08 from the opening WDV or whether it is possible to file a revised return and get refund of tax paid for the year 2006-07

Dear Experts,

Whether LTCG on sale of shares & securities is taxable under the MAT or not?
pls.confirm.

I also need guidance note for MAT & computation of MAT, if anybody have pls.very urgent

Pls.reply asap.

Regards,
Prakash Jasani

Email ID: prakashjasani_56@rediffmail.com

Hi!
If an assessee has inherited any property from his ancestors will that be inherited by him in his individual capacity or in the name of HUF .
If inherited in the individual capacity and later on converted to HUF property, will provisions of section 64(2)of income tax act and section 4(1A) of wealth tax act attract or not ??

FBT is liable on disallowances u/s 37,40A,40,43B

Suppose a machinery is purchased two yrs. back and subsidy of that machine is received in current year and a new machinery is also purchased in current year on which subsidy is not to be received. now will subsidy be reduced from new mach. cost or old mach. cost.

Will it be ok to use the interest rate of 8% for 1 year loan to spouse in today's market scenario for IT computation?


The intention is to use adequate maximum rate. Exact scenario is given below :-

Husband's(H) gross income is higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H)as loan. H opens FD with bank. Bank deducted TDS with H PAN.

e.g. A ltd. has incurred expenditure on lucky draw for its dealer.(say bike )

wwther this should be treated as

1) sales promotion expenditure or
2) gift

state this with F.B.T. implication

what does provision says ??


TDS deducted not paid within due date
Or
TDS deducted not paid within filing return

expenditure on which TDS deducted are not allowable as deduction ???

we have provided a services like accounting as well as auditing for that we have given him a bill say amounted to rs 350000 wht are the provision for that in case of with holding tax and if yes then it will deductible under which provision plz reply fast its so urgent

thnanking in advance