sir, i want to know investment in shares and there will be a no. of transaction during the year. so now we want to know that in which head my income from sale of shares are taxablei.e. business income or capital gain. and also tell me that what is the base of difference between investment or business.

Sir,
As per section 194C, No TDS to be deducted if the payment does not exceeds Rs.20000 in a single payment or Rs.50,000 in aggregate in afinancial year. What my query is a client made number of transactions in a year. up to half of the year, such contract transactions does not exceeds Rs.50,000/- hence the company not deducted TDS but rest of the year the contract transactions exceeds Rs.50000. Now the company is liable to deduct TDS on contract payments. from which amount the company to be deduct TDS either including basic limit Rs.50,000 or Excluding Rs.50,000/- ?

Kindly clarify.

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Mr. A is a retired person from gujarat govt. He has invested in Senior Citizens saving scheme. He receives interest for the same on the last day of every quarter. Now for the last quarter of Jan 2007 to March 2007 he has received interest on 4th April 2007. Also no TDS has been deducted by the bank during the year April 2006 to March 2007. The bank has deducted the TDS on 30th April for the whole year. The Form 16A issued also shows that interest is paid on 4th April 2007 for the period (1-4-2006 to 31-3-2007). Now how will the tax calculation of Mr. A be done. Will the income be considered for the previous year 2007-08?

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when a person has sold his listed shares and it is a short term capital gain, has sold the same shares in the last quarter, has not made the payment of tax completely.. so will he be liable to pay advance tax.. would like to get some illustrations as it is not convincing to pay advance tax for capital gains, lottery income etc. waiting for a response from your side at your earliest

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