How is professional tax applicable that means is there any limit for professional tax

Hi All,

A client of mine was working with a company which granted its employees some shares in in ESOP scheme. While some options vested in him during the year, some did not. He did not exercise any right to buy the shares.
The employer company was taken over buy another Company which paid cash consideration for vested options and the unvested part was converted into shares of the new Company.
The client (employee) received some amount in 2011 and some in 2014 (this was kept in escrow account).
My query is that how will capital gains be taxed in the hands of this employee client? Since he did not exercise any right to buy the options, will there be any capital gains here? He had taken the proceeds that he received in 2011 in his return for that year itself.
Should all the income be booked in 2011 when cash consideration was paid or should it be taxed as and when proceeds are received from Escrow account?

This is a very complex query for me. I will appreciate if someone could advise me...
Thanks in advance

Dear Experts,

Is it possible to change the deductee code from 0021 to 0020 in the challan for form 26QB (TDS on sale of property)?

How to know jurisdiction AO

Hi All,

There is quite a lot of ambiguity on this topic, hence I am posting a query for a final opinion on this. Is recurring deposit in post office allowed as a deduction under section 80 C? Or only a time deposit (fixed deposit) for a period of 5 years is allowed as a deduction?

Thanks in advance

Please give me the details about Wealth Tax Slab from A Y 2010-11 to A Y 2014-15.
and how to calculate it?

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DEAR,
STORY : If a person borrowed loan for house construction of Rs. 10 lakh from the bank and he starts construction. he thought he will complete construction with 10 lakh. but the value of construction goes to 25 lakh. then he managed the 15 lakh Rs. from his other source of income that he did not showed yet but it is his own income.

Qu : so which amount should he show in balance sheet and how should he manage his balance sheet so as to solve this issue?

pls say in detail

Hi,

I am joining a MNC. In the offer letter Company has mentioned following allowances/perquisites

1. Medical reimbursement Rs. 1250/month
2. Sodexo coupens Rs. 2500
3. Residential telephone reimbursement Rs. 2500
4. Car fuel and maintenance Rs. 2400

Company has given option to me to opt these above in or out of perquisites...

Now my question is which of the above i have to opt in perquisites and which one out of perquisites..??

and whether i have to provide all related documents on the actual exp on the above to employer for tax benefits???

Pls help me out

In case of partnership firm, whether the presumptive income u/s.44AD should be more than 8% of the total turnover before allowing salary and interest to partners ?