CAclubindia

CA.Tarun Maheshwari's Expert Profile

Queries Replied : 1431

About me

A Delhi based practising CA. I love discussions on professional matters especially on Income tax. Want to get more and more knowledge in every field of our profession. Thanks for visiting my profile. I wish it will convert into a long term bounding on professional as well as personal fronts. I am available at tarun2507 @ gmail.com

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Ravindra Mohanty says : How can i know my EPF status
Sir, my relative serve at LATHIA RUBBER pf A/C no is MH/4489/604. Now i want will want to know total contribution at EPF .how can i check balance of epf. Thanking You

shreyans jain says : Digital Signature
Sir,I am Shreyans Jain.Sir i need your help in growing my new work as Registration Authority for digital signatures. pls Visit and recommend my website www.digitalsignaturewala.com,u can buy online within 15 minutes you can also get the certificate.Thanking you .

Ratan Sharma says :
Audit completed u/s. 143(3). AO propose to rectify u/s. 154 on the basis of internal audit objection. Whether possible? Are there any judgements?

RAVI says : capital gain help
Dear Sir I sold house Cost 18(4year holding) in 41 lacs, repaid home loan in Oct'09 18 lacs...entered agreement to purchase house 65lac /feb 10( down payment 6.5 lacs)..rest sale proceed in a saving a/c till builder demands......is any CG in AY 10-11 ?

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