in which head the income from commodities trading will b taxable under indian income tax act?
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It will be taxed as "Speculation business" under the major head of "Profits and gains from business or profession".
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Well there is no Gift Tax Act now , so you should not bother about gift tax.\n   There is only an implication of income tax on gift as per provision contained  u/s 2(24) read with Section 56(2) of the I T Act . In simple terms gift above Rs 25,000 shall be taxable as income of the person receiving the gift unless the gift is not given by\n   1. relatives \n   2 . or received on occasion of marriage\n   3. received on account of Will or as part of inheritance\n   4. in contemplation of death of payer of gift.\nRelative has also been defined for this purpose as follows:\n\n    (i) spouse of the individual;\n\n(ii) brother or sister of the individual;\n\n(iii) brother or sister of the spouse of the individual;\n\n(iv) brother or sister of either of the parents of the individual;\n\n(v) any lineal ascendant or descendant of the individual;\n\n(vi) any lineal ascendant or descendant of the spouse of the individual;\n\n(vii) spouse of the person referred to in clauses (ii) to (vi).
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If you are from India,\n\ncheck the web site of the Income Tax Department at\n\nwww.incometaxindia.gov.in  which tells you about the LAW.\n\nIf you want any further clarifications, mail me and I can help you in this regard as I am a Chartered Accountant.
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Try searching here  http://www.allindiantaxes.com/
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Have to be an Income Tax assesse\n2. PAN card holder.\n3. Impoter/Exporter Code number. (DGFT)\n4. Bank Accout and a confidential report for RBI.\n5. Membership with the Respective Export Promotion Council.\n6. Companys' PAN card.\n7. Registration with ECGC ( Export Credit Guarantee Corporation)\n\nPlease visit any any Export Council, and get guided\nfurther, for a clear picture about your registration. Export\nof some food grains and oil are banned.\n\nUnless you visit the respective Council,\nyou may not really know.\n\nWhat is export and what rules apply to your goods?\nExport means conveying goods from Sweden to a country outside the European Union.\n\nBefore you export goods you should find out what rules apply to your particular commodities. There are export restrictions for some kinds of goods, which means that certain conditions must be met before they can be conveyed out of Sweden. The restrictions apply to e.g. munitions, commodities with dual functions and certain items of cultural interest. For some goods you must have a regular permit in order to export them.\n\nBefore your goods leave Sweden you must submit an export declaration to us.\n\nHere you can find more details about what documents you have to present to us when you export goods.\n\nHere you can read more about the conditions for repayment of V.A.T. for goods exported to third countries.\n\nWhat rules apply in the country of destination?\nYou should also take into consideration the import rules in the country to which you are exporting your goods. The Swedish Trade Council can provide information about what to expect in other countries concerning\n\n    * Import duties and other import charges and taxes\n    * Import restrictions (licences, import bans etc)\n    * Documents needed for importation\n    * Product requirements (certification, standards to be met etc) for imported goods\n    * Currency restrictions and terms of payment when importing\n    * Special import regulations for foodstuffs
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Himanshu I would suggest if you need any kind of trade information of India...visit __WWW.SHAKUN.COM__...premier website on trade laws...just visit once and I am sure it will be of help to u majorly....i am a subscriber with them and they provide excellent services. HIGHLY RECOMMENDED.
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For comparison of VAT of different States of India click on the link below\nhttp://www.allindiantaxes.com/vat.php\nFor VAT of other countries refer to VAT sites of countires concerned
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Tariff if it is related to goods purchased is a direct expenditure and has to be debited to the trading account.\n\nOtherwise it is to be debited to the profit and loss account as it forms indirect expenditure.\n\nhttp://www.futureaccountant.com/accounting-process/
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NO.\nFBT is levied only on those fringe benfits which are shared by company with the employees.
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Taxation is based on the residential status of the person under the Indian Tax law. You have to determine whether you are an ordinary resident, not ordinary resident or non-resident. This has to be done with reference to the procedure given in the Act.\n\nAfter which depending on your residential status, your tax liability will be computed.
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Check this out\nhttp://www.taxadmin.org/fta/rate/ind_inc.html
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Compensation from participation in a business, including wages, salary, tips, commissions and bonuses. opposite of unearned income.
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Click on the link bel  eow for and see VAT Schedule of the State concerned where you want to sell the productsir \nwww.allindiantaxes.com/vat.php
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Consult the Bureau of Indian Standards or the PHD Chamber of Commerce and Industry. . The Delhi Gold Merchants Association will also have the list.
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in india?  not sure.  \nfrom india...http://www.tradeindia.com
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Sole Trading\nPartnership Firm\nJoint Hindu Family Business\nCo-operative Society\nJoint Stock Company\nNon-Profit Organisation
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(HXI, IFN, IIF, PGJ)\n\nhttp://etfinvestor.com/article/4971