Dear Sir, I am a full time salaried employee. Occassionaly , i do Option transaction through icicidirect.com. What will be the income tax treatment on such transactions?

income from futures and options will be treated as business income

regarding sales tax my client have a contracting firm in Mumbai and a branch in Hyderabad,is it mandatory to file separate VAT returns or the BO can be clubbed in the HO and file at Mumbai alone by not taking any registeration at Hyderabad

if delivery/sale is from branch then hyderabad registration is essential.

what is the limit for deduction U/s 80 C with regard to tuition fees of children,one has paid a fee of Rs.70,000 in the engineering college towards tuition fee of his son and the college has also issued a receipt so as to claim the amount in his Income tax returns,but he said only an extent of Rs.27,500 allowed as a deduction and not the wole amount,please clarify

any sum paid, by an individual, as tution fees( excluding any payment towards any development fees or donation or payment of similar nature) is exempt

Sir, I have quit my job with a private sector bank in Jan 2008. I had worked for over 10 years and have withdrawn my PF amount from the company. Will I have to pay tax on the PF amount while filing my returns or is it tax-free?

pf amount recd is tax free.

Sir, I have quit my job in Jan 2008. In the current FY 2008-09, I will not be having any salary income. I am trading in shares online. I buy shares and sell them after 2 to 3 days or 2 weeks. Will the income arising out of this be treated as shoterm capital gains or business income?

chances are that it can be treated as business income