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  1. diosys

    Fire your tax related quieries and i would get it solved!!!

    Unfortunately since you did not file your ITR for the previous year hence that loss would not be allowed to be carried forward. assuming you income is only Rs. 7 lacs (after eligible deductions) your tax slab would be @ 20% for the FY 2010-11.
  2. diosys

    IPO Diary - updated (sticky IPO Diary)

    Thanks GB for the explanations... and yes i got 17 in MOIL....thank you again
  3. diosys

    IPO Diary - updated (sticky IPO Diary)

    HI GB, What are your expectations to the subscription figures for PSB ?? Some are stating that in retail it might get oversubscribed by 50-100 times resulting in pathetic allocations on a 2 lac application... Any guidance.
  4. diosys

    Manganese Ore IPO

    Hi GB, Why does higher qty stands a better chance in case of lottery ?? :confused:
  5. diosys

    Fire your tax related quieries and i would get it solved!!!

    Please take some pains and go through this thread.... Have been explained many times
  6. diosys

    Fire your tax related quieries and i would get it solved!!!

    such lending transaction if is a one off transaction should be shown under income from other sources otherwise if it is a regular feature then under business income.
  7. diosys

    Fire your tax related quieries and i would get it solved!!!

    I think you are confused between LTCG and business income difference. I would strongly suggest to read the first page of this thread in order to understand yourself once.
  8. diosys

    Fire your tax related quieries and i would get it solved!!!

    Dear GB, It is defined in the act that loss from any source whose income is tax free would also be capital loss. Under the provisions of IT act it is not your choice to set off or not...It is mandatory to be done. You would need to set off your long term capital loss with long term capital...
  9. diosys

    Fire your tax related quieries and i would get it solved!!!

    Yes, It can be set off. But it would be one's loss since short term Capital loss would have been carried forwarded for 8 years and set off against any short term capital gain tax liability of the future.
  10. diosys

    Fire your tax related quieries and i would get it solved!!!

    No cannot be set off And long term capital gain is exempt hence selling all together or in tranches would not have any effect. The business loss would be carried forwarded and set off from your business income from future. This can be carried forwarded for 8 yrs
  11. diosys

    Fire your tax related quieries and i would get it solved!!!

    No the date of holding would remain the original purchase date. Be ready with the original contract note since that is the only evidence which you would have to prove that when the shares were bought
  12. diosys

    Fire your tax related quieries and i would get it solved!!!

    How to calculate audit turnover has been mentioned many times. Please refer to older posts.
  13. diosys

    Fire your tax related quieries and i would get it solved!!!

    Yes it would be exempted if you invest the capital gains amount in another house (not in plot or paying housing loan).... Interest on bonds is taxable but the proceeds on redemption are tax free.
  14. diosys

    Fire your tax related quieries and i would get it solved!!!

    STT is an expense (amendment made by finance act 2009). Open position for options is NOT accounted for.... No you can offset or increase your loss also by including these expenses.
  15. diosys

    Fire your tax related quieries and i would get it solved!!!

    Yes you can claim in the first year itself.
  16. diosys

    Fire your tax related quieries and i would get it solved!!!

    Re: Calculation of Profit/Loss? p - l - b1 - b2 - b3 -b4
  17. diosys

    Fire your tax related quieries and i would get it solved!!!

    There would be many such calculators available online, just google for them...or even you can make one...Plus if it was a loss then you simple need to calculate that. 2.) Yes it is permissible to use ITR-4 now.
  18. diosys

    Fire your tax related quieries and i would get it solved!!!

    File ITR-4 and in the carry forward column do not carry forward the loss.
  19. diosys

    Fire your tax related quieries and i would get it solved!!!

    return of Fy 2007-08 cannot be revised as it was only possible to be done till 31-03-2010. However other two years you can revise your return with the missed out losses. Such losses would be allowed to be carried forwarded. There is no penalty for such revision. Though the chances of your...
  20. diosys

    Fire your tax related quieries and i would get it solved!!!

    after efiling of return there is an acknowledgment which is sent on your email ID from CPC Bangalore that the signed copy of the return has been received and hence your filed return has been accepted. Therefore for those returns which are not digitally signed this acknowledgment alongwith the...