Can you please suggests whether transfer I am transferring Laptop to my employee at the relieving as full and final settlement, since the same laptop is fully depreciated in my books. Is there any part is taxable.
I Kulwant Singh have recently sold a shop for 70Lakh which has resulted in long term capital gain of 30 Lakhs. I would request you to guide me on the fact that if I can save capital gains investing in another shop or it can only be saved by investing in residential property. For your information I already own one residential flat in my name. Can the capital gains can still be saved by investing in residential property.
I would appreciate your help to resolve my issue.
Thanking you in advance
Thanks & Brgds
WE ARE PAYING TO FOREIGN BASED CHARTERED ACCOUNT FOR LIQUIDATING
OUR SUBSIDIARY COMPANY IN ABROAD COUNTRY. PARENT COMPANY SITUATED IN INDIA
& ABOVE PAYMENT TO C.A. ARE DEBITING IN PARENT COMPANY BOOKS OF ACCOUNTS ( IN INDIA)
MY QUERY IS CAN ABOVE PAYMENT TO C.A ATTRACT GST RCM UNDER IMPORT SERVICE.
YOU ARE REQUESTED TO GUIDE US.
As we all know "Tax evasion petition is the weapon of choice for the husband against abuse of dowry laws"
I filled a TEP against my in-laws in June-18 but no action is taking by IT deptt till now. I filled RTI but they reject it mentioning 8(1)(j) . I approached Ist appeal , in that also its dispose off. IInd appeal is under process. Its more tha 9 months but no action is taken on my TEP application. I sent letters to CBDT but no action. In feb i apply for one other RTI but thats too also dispose off mentioning 8(1)(j). Plz guide me what should i do so that Investigation starts on my TEP application. PLz plz help me.... I m very much feedup.
A well settled Hindu family of over 11 generations from West Bengal engages internally in an annual religious festival for 240+ years. Over the years, as the family grew, the finances passed down from previous generations got distributed and at present were derived from interest incomes on normal fixed deposit accounts distributed among several family members so as not to affect individual tax liabilities(A mutual agreement). Due to the complexities of present time and involvement of a lot of members, the arrangement has proved extremely unmanageable to maintain with the required integrity by the current generation leading to various disagreements and problems diluting the actual intentions.
A motion was proposed among the stake holders to liquidate the existing distributed arrangement and form a centralized arrangement for effectively managing and sourcing funds. The income of this setup will be through internal contributions/donations among the family members and interest income from that. What options are available for the stake holders to legally operate only for the said religious purpose and what tax liabilities will be imposed.
Can anyone let me know whether issuing C Form in Telangana is not allow, in case final product manufactured ,is exempt from VAT & CST.
P Lease quote any case law.
My employer wants me to sign an agreement which has a stipulation that " The X shall be solely liable for the payment of past, present and future central, state and local levies, direct and indirect taxes, duties if any..."
Q. How do I avoid liability for PAST transactions? Is there any section or provision under contract Act which can come to my aid. That such a clause/ stipulation if incororated wrt past liability which has not culminated would become void because of uncertainity etc.
Please inform whether the fees waiver granted to Teacher's children is taxable under Income Tax Act as perquisite in the hands of Teacher and is there any limit on the no. of children. What is the amount to be added for the purpose of Tax.
Similarly whether the fees waiver granted to poor children is taxable in the hands of their parents.
Are there any cases decided on the issue.
an acquaintance engaged a contractor to build his office. he deducted works contracts tax from the payment but didn't deposit it with the concerned authority. therefore he doesn't have the certificate.
now the contractor is asking for either the certificate or the remaining payment.
our concern is:
1. if he does not pay the tax within a stipulated period, what is his liability to punishment?
2. since its not yet paid, whom should that deducted amount be paid to - the contractor or the authorities?
3. if he gives the remaining amount to contractor and not to the authorities, and ultimately the tax is not paid, what is his liability? would it double up?
4. how can he ensure that he doesn't have to pay the amount?