Raj
16 August 2014 at 11:48
Dear Professional, Please clarify the following case:
Basic excise duty credit can be utilized for payment of basic excise duty and education cess and secondary and higher education cess.
vinod raina
16 August 2014 at 11:48
We are in the business of manufacturing of industrial chemicals. Our company wants to open Depots all our India. We have manufacturing plant in Dadar and Nagar Haveli. My query is
(1) What are the Documentation requirement - Material movement from factory to the depot, documents to be maintained at depot and documentation for material movement from depot to customers.
Hira Kan
15 August 2014 at 16:55
I am not engaged in any business.
I am filling ITR - 2 since last five years.
Now, I want to invest Rs. 1 Crore in Reliance / Government Bond.
I am regularly filling my wealth Tax return.
The aforesaid investment will be blocked for Five years and every year i will get return of Rs. 10 to 12 Lacs.
Now, the said investment will covered under 44AB (Tax audit).
Kindly confirm, whether any other provisions applicable due to said investment.
Please guide me.
sneh agarwal
13 August 2014 at 19:57
sir, my mother was the sole owner of our house. we sold the house about two and a half years ago. my mother did have a bank account at that time. my mother is illiterate and prints her thumb instead of putting signatures. also she is paralyzed and it is not that easy to take her to a government office/bank to put her thumb impression. so we asked the buyer of the house to transfer money directly into my account. he deposited cash (the entire cost of the house) directly into my account. no gift deed (a gift of cash from my mother to me) was executed. at that time i did not know anything about capital gains tax. two years later i came to know about capital gains tax from a friend. he told me that such a transfer of cash directly into my bank account without a gift deed was illegal.
was he right? if yes, how can i convert this transfer into a legal one. is it possible to execute a gift deed now two and a half years later?
i used three-fourths of the money to buy a flat( the flat is under construction right now). can i pay capital gains tax on behalf of my mother six months later (three years, since we sold the house, will be completed six months later)?
if i can pay capital gains tax will i be exempted from paying tax on the three-fourth amount that i used to buy a house within three years from selling our old house.
how can i convince the authorities that the money deposited in my account was actually obtained by selling the house owned by my mother?
Vyankatesh Tadgopul
12 August 2014 at 16:02
Dear Sir/ Madam,
One of my colleagues uncles land was acquired by the NHAI for Construction of National Highway.
The sale consideration has been paid by the authority with deduction of TDS @ 10%.
such person is not filled any return till the date. Date of Sale of land is current financial year i.e. after 01.04.14.
How to e-fill the IT return of such TDS deductee.
Please suggest for the minimization of Tax for refund.
Please reply as early as possible.
With Best Regards
tarun
08 August 2014 at 14:45
Sir,
I am planning to give my property to a bank on rental basis . But I am confused here about service tax, that who has to pay it whether bank or the landlord. Here I am the service provider and bank is the recipient of the service and I have read at many place over the internet that the recipient of the service will pay the service tax but service provider will have to collect it from the recipient of service which is bank here .I want to know whether I am correct here .
Also sir Banks usually make lease agreement in such a manner that the landlord has to pay service tax. Like they will wright in their agreements "all taxes and future taxes including service will be borne by the landlord" . Stuff like that So Sir what should be done in this case ?
Prashant Kumar Jha
06 August 2014 at 09:36
Dear Sir
I'm also an adv but not deal in I/taxes, my query is one man A resigned a company giving letter of resignation & 3 month notice period amount to be realised from his dues to company, company realised the same & issued a certificate of the said amount realised. Then A applied for reimbursement of the deducted notice pay to the present company as per their terms of joining. The present company paid the amount but deducted Rs 69000/- as income tax . My query is that whether the deduction made by the present company is lawful as previous Co has deducted Rs 225000/- as 3 month notice period amount. &The amount is not income this is the amount compensated by present Co in lieu of amt realised by previous Co. It's urgent I request learned experts to kindly sort out my query & oblige.
Annshri Agrawal
06 August 2014 at 09:11
I have recd a notice u/s 245 of income tax act for AY 2013-14 for the adjustment of o/s demand against the refunds. I have to reply to the AO that demand raised by them is incorrect.please provide me the format as soon as possible.
Aman
05 August 2014 at 22:20
I have a specific query that whether non furnishing of forms 15CA and 15CB by the resident(assessee) when rendering payments to a non resident may amount to 'material non disclosure' on the part of the assessee and can the same be used as a reason by the AO to reopen assessment even after 4 years?
Further, since the Original Notification in this regard came on July 2009, so will the same govern any payments which have been furthered by a resident to a non resident in AY 2008-09?
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Taxation
I HAVE PURCHASED SHOP FROM BUILDERS FOR SALE CONSIDERATION OF 3,00,0000/- ON 10.04.2013 AND REGISTERED THE AGREEMENT.
THE VALUE AS PER STAMDUTY REGISTRAR AND MARKET VALUE IS RS 57,00,000/- WHETHER INCOME TAX ACT 43CA IS APPLICABLE TO THIS AGREEMENT OR NOT AND IF APPLICABLE THEN FROM WHICH DATE PL EXPLAIN