Sudhir Lohar
24 June 2015 at 17:39
Respected Sir/Madam,
We are a registered dealer under Karnataka VAT.
For Quarter Jan-Mar'06 a particular inter state dealer did not issue the C Form on time.The AO completed the Assessment and recovered the difference tax & penalty.
Date of order 7/7/2010.
However the dealer, after rigorous follow up has submitted the C form.
Can we go for rectification of the CST order with the AO or appear before the JC appeals.In the light of section 40 of the KVAT Act,which states as under:
40. Period of limitation for assessment.
-
An assessment under section 38 or re
- assessment under Section 39 of an
amount of tax due for any prescribed tax period shall not be made after five
years after the end of the prescribed tax period.
Provided that an assessment or reassessment relating to any tax period upto the period ending 31st day of March, 2007 shall be made with in a period of eight years after the end of the prescribed tax period.
Provided further that an assessment or reassessment relating to any tax period commencing from the 1st day of April, 2007 upto the period ending 31st day of March, 2012 shall be made within a period of seven years after the end of the prescribed tax period.
(2) Notwithstanding anything contained in sub - section (1), if any tax is, not paid by a dealer who has failed to get registered though liable to do so or fraudulently evaded attracting punishment under Section 79, an assessment or reassessment may be made within eight years from the end of the prescribed tax period.
Provided that an assessment or reassessment relating to any tax period upto the period ending 31st day of March, 2007 shall be made under
this sub-section within a period of ten years after the end of the prescribed
tax period.
]
1
]
2
1.
Substituted by Act 17 of 2012 w.e.f. 1.4.2012.
Kindly guide us in the matter.
N SURYANARAYANA
24 June 2015 at 12:59
If any person,who has not received any advance of any kind whether in cash or cheque in connection with sale of his immovable property, wants to receive the sale consideration amount in cash before the Sub-Register as full and final consideration,will the amended provisions of sec. 269SS(w.e.f.01/06/2015) come in the way of the transaction? What is the position of law if the seller is an Income-tax assessee or otherwise.
Shamsul Arfeen
23 June 2015 at 09:23
I have provide a service on 11 may 2015 & raised the bill on 17th June with 14% but payment will be received on 11 july 2015.
Service Date: 11 May
Bill Raised: 17 june
Pay.Received: 11 july
1) When shall i pay service tax to CG, if i am sole proprietor, Kindly explain & share link if any ?
2) What is the procedure of ST return ?
3) Kindly explain the due date of ST Pay. regarding in my case.
Adv. Puneet Shukla
22 June 2015 at 19:27
Dear Sir,
I have pass out LLB final semester and now i need to some clarification about registration & practice information.
1- What is the process of registration? Is this mandatory for Practice?
2- IS BCI exam mandatory for practice?
3- Is this all academic documents required?
Please suggest me & I am living in Gurgaon if any good firm open for requirement, Pls inform Me.
Thanks,
Kind Regards-
Adv. Puneet K Shukla
09990258985
Dipak N. Bhatt
21 June 2015 at 12:39
I have sale open residential plot, gifted to me in 1975. How I will save tax.
Please suggest
Thanks & Regards
Dipak Bhatt
Ranjan Luthra
20 June 2015 at 16:29
Hello,
I've the query related to capital gains for the following situation:
Transaction 1:
I had purchased a flat in 2006 for 20 Lakhs and sold it in Nov 2011 for 57 Lakhs. The long term capital gain of 20.4 Lakhs (post indexed cost consideration) was re-invested in the Dec 2011 year in an under-construction property (Cost 80 Lakhs) that was supposed to be constructed with-in 3 years (by Dec 2014).
Transaction 2:
However, the construction got delayed by an year and now I'm selling this under-construction property for a sale consideration of 1.2 Cr given my changed family needs. I'll re-invest the capital gain ( 3 years) and re-investing the entire sale proceeds into a different investment, can i claim LTCG on this? As per all the articles that I have read on the internet, an under-construction property with requisite flat details and with an allotment letter issued more than 3 years back, it should be considered for tax exemption under LTCG.
Kindly confirm if there is any tax liability on me given the situation above.
Thanks in advance,
Ranjan
Nookala Subrahmanyam
18 June 2015 at 21:29
Central Excise Audit Party has raise the issue to pay service tax on notice pay amount collected from the employees, who left the organization without notice period.
As per the terms and conditions specified in the appointment order, there is a condition to give notice for three months before leaving/resigning the job. But in a special situation the employee is decided to leave the organization without giving the notice period.
Company will collect the salary for three months as a notice pay. in view of the department is nothing but a tolerance of act hence it attracts the service tax. under section 66E(e). Is it required to pay.
Member (Account Deleted)
18 June 2015 at 17:32
Mr. A, Has an artist management service, entered with Firm B, LLP, An event orgainser in USA, to appoint Mr.Shaantanu Mukhrajee (Shaan) perform in concert in California. Mr. A had contract with Firm B that Firm B will directly Pay $3,00,000/- to Mr. Shaan & balance $50,000 to mr. A. Firm B has deducted withholding taxes on both payment. Mr. A will receive an regular contract from California in near future. What will be the tax treatment of Mr. A & Mr. Shaan in india ( Both are resident)??
what if Mr. A received total payment of $3,50,000/- less Withholding taxes & Pay to Mr. Shaan.
DILIP KUMAR MONDAL
18 June 2015 at 16:11
sir ,
i filed wrong itr form after due date , now i have received 143(1) asst.order so i can file another form as itr-4 and rectification
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Income of oci tax liability
One of my maternal brother is Singapore born citizen, he is having a house in India. The house was purchased by his father in the name of his sons (all Singapore citizen) and in the name of his nephews who were Indian citizen in the year 1970, at that time my brother was minor. Now though a builder a multi storied building has been constructed on that house in which my brother got two flats. The flats have been rented out 6500 RS per month per flat. The money is being deposited in an account opened with Singapore branch SBI. My brother has got Overseas Citizen of India status. I want to know whether this rental income is taxable or not? Whether my brother is supposed to file income tax return in India? Can he apply for PAN in India? Can he repatriate this money to Singapore ? Please advise .