Ram Avtar Singh's Expert Profile

Queries Replied : 3078

What kinds of questions I can and can't answer?

My area of expertise

My experience in the area (years):

Organizations I belong to:

Publications or writing which has appeared :

Educational credentials:

Award & Honors:

Priya Rao says : Interest calculationn under SEC 234C
Helo, Could you kindly give me more details regarding interest calculation under SEC 234C of IT ACT, 1961 for FY 2009-10? I have an example. Would appreciate if you could help me with it: calculate the Interest u/s 234c Filing Status : Resident Gender : Male Salary : 100000 Equity Shares Listed : 980000 (short term capital gain ) sold on date 08/08/2009 ----(For this the 234c Interest rate calculation will come under all three Quarters) Commercial Property : 934167 (Long term capital gain value after indexation) sold on date 08/02/2010----(For this only last quarter) Tax on Salary : 0 Tax at Special rate Tax on Long Term Capital gain : 174833 ( 874167 * 20%) ( Here Long term Income is considered as 874167 because the Taxable income minus long term capital gain is less than the amount of exemption limit 160000 i.e Section 112 So acc to that section, 160000 - [ 1034167 - 934167 ] =60000, LGCT chargeable to Tax is 874167 (i.e 934167 - 60000) Short Term CG Tax : 147000 ( 980000 * 15%) --- this also comes under Section 111A but the section 112 on LTCG gives more tax benefit.so that section is applied to Long term capital gains Total Tax : 321833 Education Cess: 9655 Tax Before Interest : 331488 Please Calculate the Interest u/s 234C

Hanif Juneja says : tds on ocean freight(resident forwarder)
Sir, I m getting mix response about tds applicablity and rates on ocean freght(residence forwarder) Will you clear my doubt ? Thanx

Rupesh says : excise cenvat available on factory shed G.I. Sheet
dear sir thank for your valuable reply, i am very glad to have chat with you. sir will you pl. forwad me the section no. so can i show my senior that we can take cenvat credit on Factory shed G.I. Sheet Thanking Rupesh

Rupesh says : excise cenvat available on factory shed G.I. Sheet
dear sir thank for your valuable reply, i am very glad to have chat with you. sir will you pl. forwad me the section no. so can i show my senior that we can take cenvat credit on Factory shed G.I. Sheet Thanking Rupesh