Dear Sir,

Our Company is in to the business of Property development and Leasing My query is that

Our company got Land under 99 Yrs of Lease for the Development we have started Constructing Factory for our sister concern at that land and we were showing all expenses for construction of Building Under Current Assets as Building Under Constrcution WIP after the completion of Construction of Factory we have transferred all expenses to Factory Building under Fixed Assets from Current Asset is Capital Gain is applicable for the same transfer

Regards

Ravi Konda

some client are still paying tds manually whether is it allowable.

Mr.A purchased agricultural land during Dec-2005 and declared income from Agriculture land in his return of Income for rate purpose. Agriculture Land is situated in a village, which is beyound 8 K.M from municipal limit and population is less than 10,000.

Whether sale of above agriculture land during July 2008 will attract short term Capital Gain Tax.

if house property is owned by a parent and interet is paid by his son would this be eliglble for deduction U/s 24(b)

And what if father pays interets on house property ,who is not the owner but has paid it to his dependens

For the finl year 2007-08 & 2008-09 is the max limit of Rs.24,000/- applicable?

R.Ambal

Respected Members,

Currently I have heard that department is asking the supporting documents with ITR-2.

So, should we have to attach the supporting now.

Regards,

Prabhakar

Please confirm whether following FBT rates are correct.

Assessee : Domestic Company

FBT is less than / equal to 10 lakh : 30.9%
FBT is more than 10 lakh : 33.99%

If not, what are the rates?

Regards,
Pankaj

hi, i needed to know which head of income had tds @ 5% during the previous year 2007-2008

Technical service charges reccived form the company for rendering service on contract bases. Company deducted TDS As per 194j. which form is suitable for returning income.

Interest on Uk Govt bonds half of which is recd in India -4000.PLz tell me sir,whether this an Indian Income,if yes,How much should be taken for
a.R&Or
b.R&NOR
c.NRI