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Displaying Queries 1 - 10 of 331 in 34 pages

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asked On 25 July 2014 at 22:50

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Tds on flat purchased from nri


Last year (Aug 2013) I have purchased a flat from an NRI via his GPA holder (his father). At the time of purchase he didn't provide PAN number as he has no PAN number with him. But he told that he has already given an application for PAN to Income tax department. However he has not received the PAN yet. so my query is

(1) What are the option available to me if he doesn't provide PAN. He has already given TDS (1% of sale price) money to me.

(2) Can I submit TDS using GPA holder's PAN number ?

(3) What next step should I take to safe guard my interest.



asked On 25 July 2014 at 21:59

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Profetional tax slab for m. p.

I want to Know about the profetional tax slab for madhya pradesh in details


asked On 23 July 2014 at 19:46

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Tax rebates on my family pension

I have recently received my mothers family pension. She passed away in year 1992. I have received pension from 2004 to 2010. She was in mns services of armed force. There was no deduction by pcda. But my bank deducted tax on it. I want to know few things:

Is there exemption under any section of IT act for my case?

If sec 10(19) applies.

Please provide me the correct tax liability?

Raj Kumar

asked On 16 July 2014 at 10:41

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Rebate in cgt for gifted property

Mr. A got a property through his father's will made in 1984. Further, a family settlement was executed in 1996 among Mr. A's family members in which the property was formally declared as Mr. A's property. Mr. A sold the property in FY 2014-15. Query : Can Mr. A get the benefit of cost indexation? Since it was an inherited property there was no cost incurred by Mr. A. Also, cost of acquisition is not available for the previous owner (Mr. A's father). Which year should be considered as the year of acquisition of the property for Mr. A.

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Mukesh Khandelwal

asked On 09 June 2014 at 13:11

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Income tax section 40 disallowance of expenditures

One of my Assessee’s income tax cases for assessment year 2012-2013 is under consideration. There was two expenditure debited by him in income and expenditure account in accounting year 2011-2012, Service tax demand for financial year 2009-10 for Rs. 132520/- Interest on service tax for financial year 2010-11 for Rs. 55642/-AO raised oral information to us that as the accounting system of Assessee was mercantile system. So why payment for previous year from the period under consideration, should be disallow under section 40 of income tax act. Please guide me what is the provision of section 40 or this type of govt. statutory tax liabilities due to service tax or other revenue department audit or scrutiny proceeding.
Mukesh Khandelwal

Mayuresh Gujar

asked On 03 June 2014 at 11:44

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Final sale deed and section 43(c)(a) of income tax


i am going to register a final sale deed of a flat property. At the time of transaction, consideration / value of the flat was rupees 5,00,000/-. Now govt valuation of flat is rupees 1500000. Agreement was not registered but was notarized. can section 43(c)(A)will be applicable to old notarized agreement?


asked On 26 April 2014 at 11:06

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Disallowance of declaration in form – ‘h” by the additional commissioner of sales tax , west bengal

Dear Sir,

With reference to the above it is to inform you that the Additional Commissioner, Sales Tax, West Bengal (Appellate) has been disallowed the Declaration in Form – “H” on grounds that “the Export invoice date prior to purchase invoice date”.

The actual matter is :

We received purchase order from M/s, Gemini Merchandise Pvt. Ltd., Pitampura, Delhi – 110088 to supply the C. I. Ingot Moulds which they exported to Nigeria through Kolkata Port on 20/11/2008(this is purchase order date). We confirm that the materials to be delivered after 15-20 days as the manufacturing was take some time over phone. In the meantime they started the proceeding for booking the container by applied for excise bond and shipping bill at excise & customs dept. The M/s, Gemini Merchandise Pvt. Ltd. make the commercial invoice and other documents to submit the same to Indian customs for making the shipping bill. They mention the date of Commercial Invoice is 17/12/2008, from custom department they received shipping bill. In shipping bill the date was mentioned 18/12/2008, let export date was mentioned 24/12/2008 and the date of bill of lading was 28/12/2008. We supplied the materials on 19/12/2008 against our sale invoice and ARE-1 date was also 19/12/2008.

Is this process is o.k. is there is any ground for disallowed the declaration in form “H” which already disallowed by the sales Tax authority with the ground that “the Export invoice date prior to purchase invoice date”.

as per CST Rule there clearly mention that 1st the merchant exporter get the foreign buyer order, according to that the merchant exporter place the purchase order to the manufacturing exporter, then the mfg. exporter supply the materials through sale invoice alongwith ARE-1 or ARE-4, then the bill of lading will be made.

Please help us so that we can get relief from the Sales Tax Department.

Thanking you


asked On 25 July 2013 at 13:47

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Aaa lisence

In Advance License we can apply for DBK claim for Duty of indigenous materials procured. is it possible to apply DBK claim for indigenous items procured for AAA license


asked On 18 July 2013 at 15:04

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What are the Liabities of an MVAT Auditor who along with the Trader indulges in Evasion of MVAT Tax (by Certifiying Audit report in Form 704 knowing that there is tax Evasion i.e paying only 1 % instead of 12.5%) and charges Premium Fees for Signing the Bogus MVAT Audit Report.


asked On 17 July 2013 at 11:16

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Income tax returns reg.ay 2013-14

I would like to share the information with regard to Income Tax Returns:-

Please refer Instructions for SAHAJ INCOME TAX RETURNS point No.7 Obligation to file return AY 2013-14

Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. The deductions under Chapter VI-A are mentioned in Part C of this Return Form.
The maximum amount not chargeable to income tax in case of different categories of individuals is as follows:-
1] Incase of individuals below the age of 60 years Rs.2,00,000/-

2] In case of individuals who are of the age of 60 years Or more at any time during the financial year 2012-13 Rs.2,50,000/-

3] In case of individuals who are of the age of 80 years Or more of any time during the financial year 2012-13Rs.5,00,000/-

***Please refer ITR or ITO for further clarification***

My sincere thanks to all Experts for giving useful advice to all on FOC in this LCI

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