Answer / javeed

CAPITAL GAINS ARE ARE GAINS WHICH ARE TAXED WHEN A CAPITAL
ASSET (TANGIBLE ASSET,INTANGIBLE,CONVERTIBLE,MOVABLE
ASSET,IMOVABLE ASSET)IS TRASFERED OR SOLD
CAPITAL GAINS ARE OF TWO TYPES
1) SHORT TERM CAPITAL GAINS:ASSETS WHICH ARE USED FOR LESS
THAN 36 MONTHS COMES UNDER CAPITAL ASSETS & IF THAT ASSETS
R TRASFERED THEN IT IS CALLED SHORT TERM CP GAIN.

2)LONG TERM CAPITAL GAINS:ASSEST WHICH R USED FOR MORE THAN
36 MONTHS R CALLED LONG TERM CP ASSETS & INCOME ARISING
FROM THEM IS CALLED LONG TERM CP GAINS.

IN SOME CASES THE 36 MONTHS FOR LONG TERM CP ASSETS BECOMS
12 MONTHS.THE FOLLOWING ARE THE CASES
A)ZERO COUPON BONDS
B)EQUITY & PREFERRENCE SHARES
C)DEBENTURE BUT THEY MUST BE LISTED IN STOCK EXCHANGE IN
INDIA

Answer / meenakshi

capital gains are the gain on the transfer of capital
assets during the year .capital assets are those which are
held for more than 36months they are longterm capital
assets if they are held for less than 12months they are
shortterm capital assets.capital assets doesnot include
land in rural area gold deposits silver utenzils personal
effects gold bar jewellery motorcar etc.transfer include
sale or relinquishment of capital asset,convertion of
capitalgoods into stockin trade etc.

what is form 'H'? and why its used in Manufacturing Industry?

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Sir, My mother has got a sum of money about 5 lacs in the form of pension arrears. Will she have to pay the income tax on this amount which is deposited in her bank account & if it is then please suggest me to save the tax at maximum possible.

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ONE EMPLOYEE TAX CALCULATION: GIVE INVESTMENT OF HOUSEING LOAN BUT HOUSEING LOAN TAKEN HIS BROTHER AND SECOND APPLICANT THIS EMPOYEE SO, QUE ARRISE IF INVESTMENT DOCUMENT OF LOAN TAKEN OR NOT....?

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can we take credit under service tax of services taken after 6 to 7 months?

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Definitions of paid up capital ,authorized capital ,issued capital ,share capital

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is there any input-output benefit against service tax like vat or not?

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what about WCT (Work Contract Tax)

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if Advance Tax is diposited by u Rs.200000/- TDS Deposited Rs.100000/- Assesment tax raised by It depart ment Rs.350000/- What will be the Journal entries?

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last financial year'2007-08 i have not deposit TDS amount till today. can i deposit TDS amount now with interest. please advise me.

6 Answers  

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