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

[diosys]

Hi Diosys,

What are the existing rules for FBT around stock options.
The US parent of the India based company will pay in dollars. How much is payable as FBT tax in India. I no longer work there. The shares were issued in December 07. Would I be liable for paying the amount directly or would the liability lie with company and hence they will withold the taxable amount.

And are there any indications if FBT norms for options would relax etc?

Dear,

FBT liability is of the employer and not yours....so let him worry about the same...

 

[Mr_Market]

Dear diosys
What is the stamp duty ? Is it different from state to state I am from jaipur (rajasthan)

 

[kjalan]

Dear Rups....

If your income is less than 1.1 lacs then no need to file your retrun...But i would always plead to people to file their returns even if of nil as it forms a better base and shows that you are tax compliant person..helps a lot in the future....

Secondly if your turnover is in excess of 40 lacs then you need to get your books of accounts audited by a chartered accountant....once you anycase approach him for the audit he would be able to guide you for the rest of your queries....

i would like to add a point
No setoff is allowed for salary income and share loss(business/speculative/capitalgain)

 

[kjalan]

i have one query:

i deducted a sum from a contractor as TDS on 1-1-2008

i forgot to deposit the same.

i deposited the same on 31 may.

what are the implications except interest.

thanx in advance

 

[shankie14]

Sir,

I have a question on Commodity trading - if one was to trade in derivatives in the commodity market and not take delivery is the tax rate at 33% or is it higher (from an individual tax return view)
In case this question has been answered earlier - if you can help guide me to the relevant post...
Thanks

 

[arun_17]

I have a small question. If I buy a share today and sell it day after tomorrow i must pay only 15% as tax right ?

 

[mrindia]

I have a small question. If I buy a share today and sell it day after tomorrow i must pay only 15% as tax right ?

Hello!
Yes, u r rite. uj vil pay 15% tax.
mr india

 

[diosys]

Dear diosys
What is the stamp duty ? Is it different from state to state I am from jaipur (rajasthan)

Yes Market....it varies from state to state....consult a civil lawyer there...

 

[diosys]

i have one query:

i deducted a sum from a contractor as TDS on 1-1-2008

i forgot to deposit the same.

i deposited the same on 31 may.

what are the implications except interest.

thanx in advance

Penalty can be initiated for non deposition of TDS.... but as far as my experience goes....it is generally never initiated by the department....Moreover since it was you who had sou moto deposited the said amount then imposition of penatly is very remote...

 

[diosys]

Sir,

I have a question on Commodity trading - if one was to trade in derivatives in the commodity market and not take delivery is the tax rate at 33% or is it higher (from an individual tax return view)
In case this question has been answered earlier - if you can help guide me to the relevant post...
Thanks

For individual there is no fixed rate....it depends on your other incomes also....