1-ONE LADY HAD A HOUSE WHICH IS HER!S NAME BUT PAYMENTS ARE MADE BY HER HUSBAND BUT IN MUNCIPAL RECORDS THE HOUSE IS HERS NAME WHO IS THE OWNER OF THEPROPERTY.
FROM TOTAL PAYMENTS OF THE HOUSE SHE PAID RS.25000/-BALANCE AMOUNT PAID BY HER HUSBAND
SHE ALSO ACQUIRE A LAND FOR RS.50000/-IN LAST TEN YEARS FROM HER PIN MONEY AND SOLD DURING THE YEAR FOR RS.1400000/-
FROM THIS AMOUNT SHE GIVE RS 800000/- TO HIS SON FOR PURCHASE OF NEW HOUSE

WHETHER RS.800000/- PAID TO SON IS EXEMPT FROM CAPITAL GAIN TAX

as it is not possible to get set off of business profit against long term capital loss. however, can it is possible to carry forward business loss set off against the long term capital gain.

If employee has two child one is staying with parents and other one is getting higher education and living in hostel,what maximum exemption he can get u/s 10

Should the Traders/ Contarctors/ Transporters showing profits u/s 44 AD/ 44AE or 44AF should also take care while paying for expenses more than Rs.20,000/- in cash.

dear sir and friends

In this regard i would like to know the meaning of term TURNOVER whether it include Parchase or both purchase and sale?

what is deferred tax ?
would u please guide me about link with the help of which i can reach the real meaning of deferred tax and its treatment and implication in taxation and accounting

Respected Collegues,

I )
I have query in case of assessee not being a sub broker/agent any kind is as follows:
What will be the respected taxable head( Business income/Cap.gain)under these circumstances:

1) Income from daily share trading.
2) Income from shares on delivery base
3) Will he be liable for Tax Audit u/s 44AB if he crosses 40 lac turnover in case of daily trading?
4) Will he be liable for Tax Audit u/s 44AB if he crosses 40 lac turnover in case of delivery base share transactions?

II)
Please Reply all 4 answers if assessee is a sub broker.

Thanks in advance
CA Pranesh Agrawal

hi,

I had made a payment exceed 20000 in cash. I know payment exceed 20000 in cash is totally disallowed but what effect it will arise when i make a payment exceed 20000 tell me briefly.

Thanks

At what rate TDS on the payment towards security charges at site of a Construction Contractor should be deducted. (assuming payments exceeds the limit)

Pls also specify the relevant section with explanation.

thanks

For delay in payment of TDS deducted to the dept. interest at the rate of 1% per month is leviable.

Can anyone please let me know which section of IT Act has the provision regarding above matter.

Thank you.