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Displaying Queries 1 - 10 of 352 in 36 pages

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Sachin Gole

asked On 30 January 2016 at 22:18

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is car theft claim settlement taxable in india

Respected experts,

My car was stolen in May 2015, the insurance claim was settled after 8 months of mental torture and harrasment.

My car was 14 months old when it was stolen, I had renewed the policy after 12 months and the idv was 80% of initial ex showroom price.

I had done some partial payment of my car loan hence idv was more than my loan outstanding amount with the bank.

The insurance company had a weird requirement of receving loan closure documents before the claim could be settled which bank was not comfortable with.

I had no choice but to close the loan by arranging for the loan outstanding amount and then finally received the whole of claim settlement amount in my account.

Could you please help me understand if this claim settlement amount of idv would be taxable as per IT laws.

Logically the idv of a car can never be more than the depreciation value of the car. but wanted some expert suggestions on this matter.

Please feel free to reach me on in case you need additional details pertaining to this.

Appreciate your guidance on this issue.

Sachin Gole.


asked On 30 January 2016 at 20:58

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Refund for a.y.-2008-09

One of My Client has a Commissin from LIC. He has LIC Commission Certificate for A.Y.-2008-09. The Pan No. is not Mentioned in Lic Commission certificate. He submitted I.T. Return A.Y.-2008-09 mannually and claim for Return 17000/-. But till now he did not got Refund. Please answer anybody how refund can receive for A.Y.-2008-09.


asked On 21 January 2016 at 10:06

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West bengal purchase tax applicability

Dear Sir,
We have engaged the contractor who is a non resident to west Bengal state vat tax act.
The contractor mainly does civil, plumbing, interior, electrical supply, laying & installation works at the property owned by us towards renovation.

In this regard we are deducting
works contract tax as per the applicable section of the WB vat act.

In this scenario,whether the purchase tax will be applicable , if so this will be liable in the hands of the contractor or to the person(company) who is owning the asset .

surajit manna

asked On 15 November 2015 at 15:25

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Filling of er - 7 return

Dear Sir,

we are filling ER - 3, so Can we are liable to file the return ER - 7 ? pls mention the notification also .


Surajit Manna

Nookala Subrahmanyam

asked On 06 October 2015 at 09:28

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Penalty and interest

Recently EA 2000 audit was conducted, the audit officer has pointed out that one of the entry of excess credit taken in April 2014 amount, and asked us to reverse the cenvat we have done the reversal in Sept 2015. In review meeting Commissioner (Audit) advising the audit officer to demand of penalty under 15(1) of CE rules and interest. This rule is not retrospectively amended, how could they demand u/r 15(1).
Further we have been maintained the balance of amount in our cenvat account. It is very clear that the cenvat availed but not utilized. Hence, there was no question of interest. Experts please comment on this.

Please comment on this

Dilip Domadiya

asked On 16 September 2015 at 19:05

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Vat credit reduction in gujarat ogs sales

Dear Sir

i want to know credit reduction on outstate sale under gujarat vat law

purchase within state 2515015/- tax 126016
purchase from outside state 13471718/- tax 269434/-

sales within state 17260935/- tax 863045/-
sales outside sales 8277654/- tax 165554/-
branch transfer 1780250/-

please find attached file for detail information of sales & purchase


asked On 25 August 2015 at 16:18

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Regarding stamp duty


I am staying in Dombivali(w).

I am living in Chawl.
Now 1 builder is approached us for development of that chawls into buidling.

Current Room is on Our name alredy.

So for getting the Rooom in Building should we pay the stamp duty?
If yes who have to pay i.e Bulider or we have to pay?
Which other Taxes have to pay to municipal corporation.


asked On 20 August 2015 at 12:05

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Coaching centre

Hi, I have a franchisee on my individual name of CA coaching classes in Maharashtra.
Do I need to register my franchisee as LLP with ROC or do i need to register in Gumasta ?


asked On 07 August 2015 at 17:26

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Regarding notice for vat assement u/s 29(2) and u/s 29(4) of punjab vat act, 2005

Dear Sir,

We have received notice from the department u/s 29 (2) and U/s 29 (4) of Punjab Vat Act, 2005. I want to know that can department send us the notice under this section for financial 2009-10. Is this the right time to send the notice. We deal in sale of Electricity which is Tax Free Goods, Are we liable to receive this notice if receive notice under this section. If we have replied against this notice can department refuse to give us the copy of our letter after signing.Please advise


asked On 29 July 2015 at 08:18

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income tax deducted

Sir, i am working in psu bank as a clerk is a ST of assam Deori tribe and presently posted in arunachal pradesh. When my arear came, income tax was deducted from me. When i enquired whether i have to pay income tax in scheduled area from the hr dept. they said tat only the ST hill people are exempted from income tax here. Plz guide me.

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