Dear Mahesh, my opinion is B must show Rs 25L as a loan from Mr A not as a income. members may have a different view भवदीय, दीपेश
मेरा स्वप्न "अखंड भारत, समर्थ भारत, प्रभावी भारत" visit us at www.shivajimaharaj.org On Tue, May 19, 2009 at 7:43 PM, mahesh shingala <[email protected]>wrote: > Dear Collogues, > > > > Following is the Facts of the Case, for which I have to decide, vis a vis > Income tax Laws for FY 2008-2009. > > > > Mr. A married to Ms. B on 1 st July, 2008. > > > > Ms. B is a School Teacher and having Salary Income of Rs 1.50 L > > Tuition Income Rs 1.00 L > > Interest Income Rs.0.50 L > > > > Mr. A is a Sub Broker for BSE Member Broker. > > > > Mr. A before marriage gave Rs 25.00 L to Ms. B (on 01.04.2008) > > She used the full amount for Derivative Trading at BSE and incurred Loss of > Rs 25.00 L by 30.05.2008. > > > > In the above case how should i treat Rs 25.00 L Derivative Loss in the > Computation of Total Income for FY 2008-2009: Also I have to decide about Rs > 25.00 L received from Non Relative in the Computation. > > > > *Is it correct to give the following treatment?* > > > > *Income From Salaries:* > Rs 1,50,000/- > > > > *Income from Business / Profession* > > Tuition Income 1,00,000/- > > Derivative Loss > > (Trading Loss) -25,00,000/- > > __________ Rs > -24,00,000/- > > > > *Income from Other Sources* > > Interest Income 50,000/- > > Loan received from > > Non Relative 25,00,000/- Rs > 25,50,000/- > > > ______________________ > > > > > *Gross Total income > Rs. 3,00,000/-* > > * > =====================* > > * * > > Please let me know your view on the above subject matter w.r.to Derivative > Loss and Adjustment a/g Loan received before marriage from fiancé. > > * * > > Thanks & Regards, > > > > Mahesh M. Shingala. > > > > > ------------------------------ > Explore and discover exciting holidays and getaways with Yahoo! India > Travel Click here! > > <http://in.rd.yahoo.com/tagline_Travel_1/*http://in.travel.yahoo.com/> > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Skorydov MyTaxAssistant Member Group" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/SkorydovMyTaxAssistant?hl=en -~----------~----~----~----~------~----~------~--~---
