Anonymous

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.


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04 September 2018 at 16:10

Applicability of gst

Query on GST:
What GST would be charged – CGST + SGST or IGST, in following scenarios:

1.
Person having immovable property – registered in Maharashtra, having place of business in Maharashtra.
Location of the immovable property – Karnataka
Person who has taken the property on rent – registered in Maharashtra, having place of business in Maharashtra.

2.
Person having immovable property – registered in Maharashtra, having place of business in Maharashtra.
Location of the immovable property – Karnataka
Person who has taken the property on rent – registered in Karnataka, having place of business in Karnataka.


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10 August 2018 at 08:01

B.Allb

Hlo Sir ... now a days I am pursuing b.ALlb from Agra university.i want to do practicing in taxation plz could uh tell me can I do training of taxation bcoz now I�m under in Ist year of B.Allb


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Respected All,

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.

Thanks,


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Anonymous

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.


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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.


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05 July 2018 at 21:51

Regarding GST

If I have received income by issuing debit note to customer against customer deny to give C form in this regard I have to pay GST on this income.


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Anonymous

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?


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Anonymous

my friend 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?


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26 June 2018 at 19:47

Gst rate for real estate

Sir, I had book the 2 bhk flat in april 2017 at Nasik, Maharastra which will be completed in 2019 and bulider also registered in RERA. Now Bulider is asking GST 12% excluding Stamp duty@5%, Registration charges@1%. Kindly clarify ? what is GST rate is applicable for under construction apartment. with stamp duty and registration charges ? my builder now follows for agreement with GST 12% excluding Stamp duty@5%, Registration charges@1%.
Any chances to reduction in the GST rate for real estate sector within 3-4 months? Builder is not ready to pass credit input of Land also ?


Regards,
Gunavant Patil
8884185395


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