Budget 2008 related questions

#1
Hi
No idea about taxation matters hence a few queries
1.When will the new personal IT slab be effective from i.e ending Mar2008 will i paytaxes according to new slab or it will effect my income from apr08 to Mar09?
2. Reagrding short term capital gains, is this tax applicable to commodities too , someone told me that short term trading in commodities is not considered speculative & hence not under this tax?
Thans in advance
Naveen
 
#3
From this year, don't show STG in your accounts, keep money with your Broker ;)
If i am not mistaken , You mean to say the New slab will be applicable for income from Apr 07 to Mar 08 when i file my return in April this year.
Correct me if wrong
thanx
naveen
 
#5
hello naveen
the new slab will be applicable to the income earned during the period 01.04.8 to 31.03.09. for which u will file ITR in A.Y.2008-09 and for tax deduction purpose in F.y. 2008-09
 

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