"54F Capital Gain exemption-Two Plot sold -in two Financial years-one house purchased” plus 4 more

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• 54F Capital Gain exemption-Two Plot sold -in two Financial years-one house purchased
• PUBLIC SHAREHOLDING IN LISTED COMPANIES RAISED TO 25%:PRESS RELEASE
• Dis allowance unreasonable payments-Not base for penalty u/s n 271(1)(c)
• GROSSING UP TDS SECTION 195A -SECTION 206AA TDS RATE WITHOUT PAN
• Surcharge in the case of TDS when recipient is a co-operative society-Fy 2007-08

54F Capital Gain exemption-Two Plot sold -in two Financial years-one house purchased Posted: 06 Jun 2010 05:39 PM PDT My client has sold a plot of land on April 10, 2009 (net sale consideration: Rs. 40 lakh, long-term capital gain: Rs. 33.7 lakh). The net sale consideration of Rs. 40 lakh is deposited by him in capital gain deposit account scheme on June 1, 2010 for availing exemption under section 54F. He is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

PUBLIC SHAREHOLDING IN LISTED COMPANIES RAISED TO 25%:PRESS RELEASE Posted: 06 Jun 2010 01:24 AM PDT The Government has made amendments to the Securities Contracts (Regulation) Rules. The salient features of the amendment are as follows: a) The minimum threshold level of public holding will be 25% for all listed companies. b) Existing listed companies having less than... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Dis allowance unreasonable payments-Not base for penalty u/s n 271(1)(c) Posted: 06 Jun 2010 01:17 AM PDT In the case of Jhavar Properties (P.) Ltd. v. Asstt. CIT [2010] 123 ITD 429 (Mum.), the question before the Tribunal was whether the Assessing Officer was justified in levying penalty for concealment of income under section 271(1)(c) of the Income-tax Act, 1961 ('the Act'), solely on the basis of... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

GROSSING UP TDS SECTION 195A -SECTION 206AA TDS RATE WITHOUT PAN Posted: 05 Jun 2010 10:00 PM PDT A manufacturing company wants to pay royalty to a foreign company. Under section 115A read with section 195, tax is deductible at the rate of 10 per cent (effective rate is 10.5575 per cent after including surcharge and education cess). The rate under ADT Agreement is 15 per cent. The recipient... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Surcharge in the case of TDS when recipient is a co-operative society-Fy 2007-08 Posted: 05 Jun 2010 09:48 PM PDT Our company pays commission and interest to co-operative societies. During the financial year 2007-08, the company has not included surcharge in tax deductible under sections 194A and 194H. The Assessing Officer has issued a notice for short deducting of tax at source. He intends to recover from... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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