Income Tax queries [13905]

All Resolved Open

shruti

19 December 2007 at 10:14

2nd Query! Income tax

this profit of 20-25 lc is the gross profit w/o taking into consideration any expenses.

pl adv if tax liability changes.

wat is MAT ?

shruti

19 December 2007 at 10:12

2nd Query! Tds on Ocn Frt and Stax

but xyz is forwarder. it only add profit margin on the ocean freight gvn by the s/line and quotes the same to the shpr.
how's it can be termed as a service ? plsss explain.
also he doesnt get any sort of commission from the shipping line. neither he provides any kind of service to anybdy.

pl adv.

sangeeta agarwal lhila

19 December 2007 at 10:10

bonus shares

what is the cost of aquisition of bonus shares

shruti

19 December 2007 at 09:59

Inc Tax slab for Proprietorship firm / Partnership Firm

pl adv income tax slab for
Proprietorship firm / Partnership Firm

pankaj

19 December 2007 at 09:26

TDS on reimbursement to C & F Agent

At present we are deducting TDS on the total Bill of our C&F Agent - though some part of the Bill is for re-imbursement and further part is for commission.
Could we exclude TDS from the re-imbursement portion?

shruti

19 December 2007 at 08:53

Inc Tax slab

pl adv the income tax slab.

shruti

19 December 2007 at 08:43

Income tax

how much tax do abc has to pay if profit is btwn 20-25 lac. also note -
1) shpr has already deducted tds of rs. 1.50/2.0 lac while making payment to xyz
2) advance tax paid is 75000/-
3) expenses wl be around 4-10 lac.

so do they hv to pay any more tax?

pl adv.

shruti

19 December 2007 at 08:39

TDS deductn from Ocn Frt & Service tax

xyz is forwarding co. xyz's shpr is again a forwarder or sometimes direct shpr. when he raises invoice on this shpr or forwarder, that invoice includes ocean freight, thc applicable and documentation charges charged by the s/line. while making payment shpr or forwarder deducts 2.27% tds from the gross amount and gives the payment. 1) is it correct? 2) is this xyz comes under service tax bracket? its business is only adding profit margin in the ocn frt charged by the shipping line and quoting the same to the shpr or forwarder. pl guide.

CA. Varun Soni

18 December 2007 at 19:49

Gift in Kind

Hi..
Is gift in Kind is exempt from a non-relative.
If Yes then, what if i gift gold worth Rs 5,00,000 to my frnd. Will that be exempt?

If No then at what value tax will be levied.