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

[lazytrader]

I agree with diosys.

The media guys are becoming cheap day by day. They say and do anything for ratings. You shouldn't be listening to them about what is right or wrong. If you need proper analysis you have to wait from public interest groups or certified experts in the fields to respond.

In case you didn't know the press/media is not more neutral or pro-public anymore. They usually print news that would profit them. It is a know fact now that certain companies make deals with media companies for favourable news. The reporter who exposed the harshad metha scam and another one later, herself mentioned about this and how the media is manipulated by businessmen/politicians/dons etc for personal gain by misleading the public.

 

[magnet]

I agree with diosys.

The media guys are becoming cheap day by day. They say and do anything for ratings. You shouldn't be listening to them about what is right or wrong. If you need proper analysis you have to wait from public interest groups or certified experts in the fields to respond.

In case you didn't know the press/media is not more neutral or pro-public anymore. They usually print news that would profit them. It is a know fact now that certain companies make deals with media companies for favourable news. The reporter who exposed the harshad metha scam and another one later, herself mentioned about this and how the media is manipulated by businessmen/politicians/dons etc for personal gain by misleading the public.

I GUESS NOW madhur bhnadarkar should make a movie on them

 

[lazytrader]

:rofl: you're right!

 

[baby_ka janu]

Hello, I started day trading from this year and that is my only source of income. So please tell me how to calculate my tax and what deduction can i get. (I know it is a very basic question but any help will be very ).

 

[lazytrader]

If you are day trading then you file your tax under business head which is taxed at a flat rate of 30% above expemtion limit of 1.5L. You can deduct costs for trading like PC depreciation, internet connection bills etc and STT.

 

[diosys]

If you are day trading then you file your tax under business head which is taxed at a flat rate of 30% above expemtion limit of 1.5L. You can deduct costs for trading like PC depreciation, internet connection bills etc and STT.

Your answer is absolutely correct though would like to mention that 30% is above 5Lacs income for FY 2008-09...

 

[J_D]

Hi Diosys,

An assessee have been filing his returns in one city till now. He has moved his place of operation to another city in the same state and files his return in the new city.

Is it mandatory for the assessee to inform his previous Assessment officer that the returns for the current assessment year have been filed at a different city and request him to move the previous IT records to the new IT office in which he has filed the returns currently..

JD

 

[lazytrader]

Your answer is absolutely correct though would like to mention that 30% is above 5Lacs income for FY 2008-09...

Have the rules changed?

 

[diosys]

Hi Diosys,

An assessee have been filing his returns in one city till now. He has moved his place of operation to another city in the same state and files his return in the new city.

Is it mandatory for the assessee to inform his previous Assessment officer that the returns for the current assessment year have been filed at a different city and request him to move the previous IT records to the new IT office in which he has filed the returns currently..

JD

Dear,

One needs to get the address of the PAN changed as and when there is a change in location of an assessee..

Techinically as per Income tax a person who changes his jurisdiction (in the above case it does change) should also get his Income tax file moved from the place registered to other place where he gets setteled. This is a pretty cubersome process.

One thing tell me that if this change of city comprehensive...Has he moved in its entirety (i.e. his business, house family etc) or just his business. In case only the business has changed then get the PAN data changed only.

 

[diosys]

Have the rules changed?

They were always the same....FOR FY 2008-09

the slabs are

1-1.6L - nil
1.5-3 - 10%
3-5 - 20%
above 5 - 30%