Do you have streak of writing column ? Why don't you share your expertise and knowledge for readers and let them have the benefit of your knowledge. Click the page "Guest Blogging " show the world your talent. - taxworry.com answers QUERIES done through ASK ME link only. Question by comment system is OPEN to READERS .
You are here: Home / Archives for December 2009

Is Shifting Charge & Temporary Accommodation Taxable Perquisite?

December 22, 2009 By taxworry Leave a Comment

Archived; click post to view.
Excerpt: When I joined my present company in June 2009, I was paid a shifting charge of Rs. 30,000 and temporary accommodation (hotel) charge of Rs. 21,000. However the company has added those to expenses to my income and already deducted taxes. If I want to reduce these charges from my income (as these were expenses required to perform my duty) in my return and claim back the taxes, what documents I need to produce? I have the original bills for expenditure on hotel and transport bill for shifting. What documents/certificates I would require from my employer to claim back that…

Google Buzz
Filed Under: Salary Tagged With: , , , , , , , , , ,

Is Redeeming Value on ULIP Tax Free?

December 20, 2009 By taxworry Leave a Comment

Archived; click post to view.
Excerpt: I invested in ULIP single premium of Bajaj Allienz (1.04.2005) on 1 Lac and got the sum assured Rs 5 Lac. Subsequently invested in Top up Rs 5 lac on that. All sum was invested in Equity oriented fund . After three years now the fund value is Rs Rs 8 lac ( on 15.12.2009). What will be capital gain if i redeem full amount .Sachin Purwar , Kanpur What i understand from your query is that you bought 5 lac assured sum under ULIP  and later invested Rs 5 lakh more , by whatever name called….

Google Buzz
Filed Under: capital gains Tagged With: , , , , , , , , , ,

Basics Of Mutual Fund Taxation !

December 13, 2009 By taxworry Leave a Comment

Archived; click post to view.
Excerpt: I want to know the tax calculation of mutual fund. How the tax calculated and what is capital gain. Sunil Prajapati The mutual fund transaction by any one can bring two kinds of income 1. Capital Gains or loss if you are showing bought units as investment 2. Trading gains if you are actually doing regular buy or sell at much faster frequency. 1. Capital Gains When you buy , the mutual fund allots you units and when you sell the mutual fund company call it redemption, which…

Google Buzz
Filed Under: capital gains Tagged With: , , , , , , , , , , , ,

Should TDS From Prize Money Be Refunded To A Person Having No Taxable Income?

December 8, 2009 By taxworry Leave a Comment

Archived; click post to view.
Excerpt: I want to know about TDS, since I won a contest in which I got 1 Lakh cash prize and TDS of 33.6% is deducted from that amount, since I am a student with no income, so whether that amount will be refunded to me and if yes how. Atul Vohra , Shimla No, the amount of tax deducted will not be refunded to you because the tax on lottery or prize has to be paid by a person even if the taxable income of the person  is below exemption limit. The reason is that…

Google Buzz
Filed Under: Refunds, TDS Tagged With: , , , , ,

Can You Deduct STT As Expense From Share Sale Income ?

December 5, 2009 By taxworry 1 Comment

Archived; click post to view.
Excerpt: The income from share transaction can occur in following forms 1. Share trading 2. Speculative trade 3. F & O transactions 4. Capital Gains Allowance of STT for First three types (1, 2 & 3) From Assessment Year Asst Year 2009-10 (FY 2008-09 ) , Securities Transaction Tax (STT) is defined as an expense u/s 36(xv) of the I T Act (xv) an amount equal to the securities transaction tax paid by the assessee in respect of the taxable securities transactions entered into in the course…

Google Buzz
Filed Under: Business Income, Shares Business, capital gains Tagged With: , , , , , , , , , , ,
More Twitter Followers
Subscribe taxworry.com!

Parse error: syntax error, unexpected T_VARIABLE in /home1/taxworry/public_html/wp-content/plugins/genesis-simple-hooks/plugin.php(92) : eval()'d code on line 107