CA Ashok Kumar Sahu's Expert Profile

Queries Replied : 1109

I'm practicing CA, in Raipur, CG. My qualification is FCA, M.com, Thanks to visiting my profile.

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Priya Rao says : Interest calculation 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

Santosh Sahdev Hadavale. says : exam preparation
How can I Prepared my exam of Cs executive Programme . i got exexmption in Company Law.

Ravindra Mohanty says : a/c
chapter-insurance claim in given problem total closing stock is rs.170000. and opening stock included 40000 abnormal item.it EXPECTED abnormal item to be sold at rs 16000. in what should value taken to valuation of normal item/stock. a) rs 130000 b) rs 154000

Hansraj yadav says : No cleared the matter
I just want to ask that the TDS which is deducted from April 09 to Feb 2010, Should be deposited up to 31-3-2010 or up to 7-4-2010 with interest to take allowanc.