Can i include the short term capital gains in the lowest slab of non taxable income of 1.1 lacs?
Answers: If your income including short term capital gains are less than 1.1 lakhs, then no tax payable.
Example-1
0,60,000 salary
0,50,000 short term capital gains from shares
------------
1,10,000 Total income
1,10,000 less Exemption
------------
0,00,000 Net taxable income.
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Example-2
1,00,000 Salary
1,10,000 Short term capital gains from shares
------------
2,10,000 Total income
1,10,000 less exemption
------------
1,00,000 taxable (a)10% flat rate
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Tax = (10,000+Edu.Cess)= Rs.10,300
It doesn't matter whether you include short term capital gain in lower or upper or even in the middle of the basic slab which is taxed nil.
Because short term capital gain is included in your total income and it is charged to tax similar to the Income form other heads are charged to tax. Better have a look at the following link: - http://www.incometaxbangalore.org/faq/cg...
Follow the answer to the question no.5
I don't understand why this question arised in your mind? I hope you must have understood now
no
Jackson He-wit or H & R Block? or is nearby a better passageway to do taxes?
Which company will get your more deduction and more money back? How much do they bear out to perform the service?Answers: avoid jackson hewitt. they are currently underneath lawsuits of scamming people out of money and possible human being shut down. turboatax and h&r block are good for deduction, although turbotax is more thorough. if you make lower than 54,000 efile is free and you would only rate for filing state.
i work for a professional export tax service myself (like H&R BLOCK) and do not reccomend them for anyone under $54,000. They cost around $75 to $140 to do what you can smoothly do yourself for free or at least smaller quantity than $30. If you want to have them professionally done though, I recommend HR Block, or EXPRESSTAX if you enjoy one close by. Jackson Hewitt is a shady place, like a previous poster said. Also want to avoid Liberty Tax if one of those is within your area.
stifle:
to fully answer the first part of your give somebody the third degree: no matter what method, doing them yourself, HR Block, Jackson hewitt, TurboTax, doesn`t matter what else. your refund/ amount due will be the same if it is done correctly. The one and only difference is the cost you incur to have them prepared. Shop around, call upon the pros and ask them up front what the costs are... you will find that most will be shady about the cost except for a few... those that let somebody know you up front are the ones you should go to.
www.taxact.com is the best
I lost the main diamond on my engagement ring. Can I claim this on my taxes?
Answers: No. Losing a part from personal jewelry is not a business or work related deduction.
I doubt it. The government yanks money out of your check before you even see it. There's a Presidential Election going on. A war in Iraq. Homeless starving people. Millions without health insurance. There are sex crimes, murders, and drugs lttering the streets of America. No offense, but why would you think the government would assume responsibility for your diamond when there are far more important matters? Why would you think they'd even care?