How much amount is deducted (at source maybe) as a contribution towards provident fund??

As you’ll would have guessed, I really don’t know a lot about salary deductions and contributions. I will really appreciate if someone can enlighten with the way the salary works in India? what sections/heading are people paid under? Which of those fields are taxable? How much gets deducted at source and for what reason? What exactly is a provident fund or public provident fund? How much tax is deducted under professional tax?

:o)

How to calculate tax on Gain in short term thro’ Shares?

Dear Experts,

During the year 2009-10 in some shares I gained some amount also in some shares I booked losses.
Now My query is How to calculate tax on Gain in short term thro’ Shares, Shall I deduct losses from Gain or I have to pay tax on total gain,

My second query is – while filing the IT Return do I need to show documents related to shares transactions or not.

Please guide,

Girish.

when is the due date for filing returns of partners of a partnership concern which is liable for tax audit?

normally due dates for individuals is 31st july, but for partners of a partnership concern which is liable for tax audit,will the due date be 30th september,i;e due date of the firm, as the partners personal details cannot be finalised until the tax audit of the firm is completed. also if we file the individual partners return by 30th september, whether they will get the benifit of carrying forward the losses if any for the further years.

How about investing in Thornburg Mortgage Inc?

We all know Thornburg went bust but survived due to private capital injection. Losses have been managed till now, with its branches intact It all means a mortage firm starting again as good as a new one. But the catch here is, this firm has an established business, some asset and an experience private investor to back. So do you folks think at $ 0.07 Thornburg can be a good investment for the next boom.