URGENT

Page no : 2

Raj Saxena (1412th Tiger) (Struggling Student) (272 Points)
Replied 01 April 2010

Akhil u shud not abuse someone like this. V all r here to share r doubts nd queries. So if u find it worthless and fruitless so don't participate in that thread but don't pass such sort of cheap comments on someone.

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C.Balaji (Learner) (1867 Points)
Replied 01 April 2010

Originally posted by : Raj Saxena
	Akhil u shud not abuse someone like this. V all r here to share r doubts nd queries. So if u find it worthless and fruitless so don't participate in that thread but don't pass such sort of cheap comments on someone.

Good.........

1 Like

AMIT AGARWAL (learner) (114 Points)
Replied 01 April 2010

akhil yadav comment is very cheap...CA Club team should scrutinize such comments first & then pass on the portel....otherwise any decent student or member will not posted their queries & replies on this portal.....

Raj Saxena (1412th Tiger) (Struggling Student) (272 Points)
Replied 01 April 2010

Don worry Amit. Aisa hota hai. Keep sharing ur queries. thoughts, etc.

CA Punit GoSwaMi (Chartered Accountant) (310 Points)
Replied 01 April 2010

Income From Salary Rs. 84000/-

Short Term Capital Gain Rs.75000/-

Gross total Income Rs.159000/-

Tax on Income Rs.900/-

Ed.Cess Rs.27/-

Total Tax(Rounded off) Rs.930

Read section 111A the relief is availabe

Conditions are.

1.) the taxpayer is a resident individual or OR or NOR

2) Taxable income minus short-term capital gain is less then the amount of exemption limit.(i.e 150000/- is A.Y 2009-10)

if above two condition are satisfied then the amount i.e(Rs.150000) - (159000-75000) will deduct from the short term capital gain. i.e(75000-66000) = 9000

Then the tax liability will be 10%*9000 and it is not 15% clearly stated in sec.111A.

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C.Balaji (Learner) (1867 Points)
Replied 01 April 2010

Dear Amit.............

Dont worry.......You can feel free to ask any query in this club..............dont hesitate........

Rajan Hans (Senior Manager) (22 Points)
Replied 02 April 2010

yes......... above calculations are right

Pawan (ca Final) (32 Points)
Replied 02 April 2010

The compuatation show by the friends above are absolutely right.

SUNIL GARG (CHARTERED ACCOUNTANT) (175 Points)
Replied 02 April 2010

Hi Amit,

Rachit is right.

john (LEARNER) (549 Points)
Replied 03 April 2010

Football Well kicked by KEEPER- AMIT, Good pass-on by Rachit & Darpan, superb+smart Goal by Bhavin Bhadra, keeper Akhil Yadav being a good keeper on loose. Simple but nice match.

i learnt sec-111A

thanks to all