our employee withdraw Epf from company, on that how much amount will be taxable as per Income tax.

what is the exemption limit?

In what section it was available in IT recknor?

plz sir

tds deducted on bill including service tax or excluding service tax.


our clinet ONGC Ltd net bill given after deduction of service tax on that amount we deducted TDs as per contractors


this is correct or not

plz sir

Individual, who is not directly involve in any business earns Interest, Remuneration and Share of Pofit from a Partnership Firm, which is exceeding Rs. 40 Lacs.
As per section 44AB any person carrying on business shall be liable for Tax audit if his total ... gross receipts... in business exceeds Rs. 40 Lacs.
Now, in this case, whether the individual earning such income from firm will be treated as a person carrying on business? Whether he will be liable for Tax audit u/. 44AB.

hi,
can anybody suggest me the entry level handbook of NRI taxation?

It should provide basic issues like What should be the restrictions of investment , Loan to resident, interest, TDS to Non resident etc.

Thanks

Hi,
I would like to know wat is the Notified interest rate on Recognised Provident Fund balance? is it 9.5% or due to some Notification is it 8.5%? Taxmann (Singhania) says its 9.5%. Plz clarify! Interest credited in excess of wat % is exempt? Also,plz give me some site address or proof where i cn find this rate for my reference.

Dear Sir,

As one my relative is a rickshaw driver, he want to file his income tax return to get the housing loan. Whether is it right to consider his income under business head ?

If yes , then whether he is also require to file Balance sheet,P & L A/c along with return? Whether he can file return for last 3 years now?

I have taken a housing loan from bank of India for 20 years at 10.5% interest rate. Now I want to take a loan from my father and repay my loan to Bank of India. Can I pay interest to my father @15% and claim loss from house property.

my query is if Security Transaction Tax(STT) is paid by the assessee on trading of equity shares, whether Short Term /Long Term capital gain will be attracted?

kindly explain the same with brief provisions under the IT Act, STT Rules.

On completion of assessment of partnership firm an addition of Rs. 150000 has been made. Can the partners claim higher remuneration as per the enhanced book profit after assessment. What is the procedure for that and whether the assessmentof partners will be reopened or it can be done u/s 154

Dear All,

If any person file individual return form-2(e-return) for the asst. year 2007-08 on 31-07-07 but he have not digital signature and he paid all income tax liability on 20-07-2007.But he file form V(acknowledgement) with I Tax dept.on 24/10/2007 than Income Tax dept.,would be treat with assesse.

harish