C.J.Sriram
04 August 2014 at 20:59
A,B,C,D are four brothers each of them having independent ownership of adjacent land of 1 ground each. It is desired by ABCD to get title and dispose of 2 grounds of land and construct ONE building in the other 2 grounds. Also, it is desired to have/get UDS in the 2grounds of land retained for construction of flats. So however that, the Sale Proceeds of the lands sold will be applied to construct Building in the land retained.
The query for clarification is:
1. Can the brothers do a settlement first among themselves to make all of them own UDS in the land being disposed. Get the Sale deed registered directly or thru a POA, only for selling land and receive considerartion.All the four of them will sign the sale deed as coowners having UDS title.
2. Can they again effect settlement on the 2 grounds of land retained so that each of them have UDS in them and then Construct on their own or thru a Buildier ONE BUILDING having flats which they can take and share equally.
3.Will this comply with the investment of the LTCG ( land is owned by them for over 3 years) arising due to sale of land in the hands of ABCD.They will finally own ndividual flats on the UDS of the land already owned by them.
4.Will this also comply with the investment in "A RESIDENTIAL PROPERTY" IN THEIR INDIVIDUAL HANDS thereby fulfilling LTCG benefits availble.
tushar
04 August 2014 at 20:33
Yes bank offers premium rupee plan.. It's type of investment for NRI which takes forward contract in currency. As money paid and remitted in NRE account is returns will be exempt from tax
Vikas Sharma
04 August 2014 at 13:33
hello,
I have some problem in downloading dvat digital signature software , i need help regarding it.
Anonymous
04 August 2014 at 00:17
Can father in law gift give money as gift to his son in law,
Further what is meaning of linealy ascedent and decendent in sec 56 of income tax act, 1962
N SURYANARAYANA
03 August 2014 at 16:29
This is with reference to International Taxation subject. It is mandatory to make e-payment of Corporate taxes. However, in respect of PAN obtained by I.T.Dept, for and on behalf of freight beneficiaries whose vessel /ship sail and for which NOC is given by the I.T.Dept, the agents of the freight beneficiaries submit DD/Banker Cheque to I.T.Department as part of payment of taxes(where India do not have DTAA with the concerned country). Please help us to know the designated/authorised banks in Andhra Pradesh to accept physical challan for remitting corporate taxes to the credit of the Govt. A/c against Assessing Officer code using DDs/Banker Cheques.
Arun kapoor
03 August 2014 at 11:05
sir i have one ques regarding tds on contractor..supoose we have done some sanitary work in our institution and we have to make payment to that contractor for labour charges of Rs.195000 without deduction of tds.
now if the contractor raise 3 bills in the name of 3 individual labourers of amount
labourer 1.
bill no 1.rs. 29000
bill no.2 rs.29000 and
bill no.3 rs.7000 and so on for 2 more persons of same amount to cover the payment of 195000
is the person who is making the payment still laible to deduct the tds.????????
MOHAMED FIROZ
02 August 2014 at 20:51
A PERSON IS WORKING IN A SCHOOL AND IS DRAWING A SALARY OF RS. 20000/- PER MONTH AND PAYS EPF RS. 780/- AND CARRIES HOME RS. 19220. IS TDS APPLICABLE FOR EACH MONTH ? THE SAME PERSON HAS TAKEN LEAVE FOR THREE MONTHS AND THE TOTAL EARNINGS PER YEAR HAS BEEN LESS THAN TWO LAKHS. IS TDS APPLICABLE ?
Satya Dev
01 August 2014 at 22:28
Sir,
I have registered 3 Acres of my Agricultural land in July, 2014 based n an agreement (unregistered) made in July, 2011.
The buyer had already paid total amount (Rs. 15 Lakhs) when we made the agreement in 2011. But in July, 2014 when I actually registered the property (3 acres), the Market Value (Based on which stamp duty is calculated) the property increased to 1 crore 14 lakhs.
As the registration is complete now, will I face any Income Tax issues because on the Sale deed it shows a higher amount than what I had actually received ?
prithwish sengupta
01 August 2014 at 10:24
Dear Sir,
I have purchased a residential plot in AY 2014-15, and paid stamp duty of rs 21900 on the same. Whether i can take deduction under 80 c for stamp duty paid on purshase of residential plot.
Regards
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Can father in law gift give money as gift to his son in law, Further what is meaning of linealy ascedent and decendent in sec 56 of income tax act, 1962