SHAKIL SHAIKH
31 July 2014 at 14:23
Our soc is reg low cost co.op.ho.soc.make low cost flats on social base and allot direct to the share holders wihout any pfoti-loss. pl.guide us that the service tax on sale of property is applicable to us or not ??
If yes what is the way of exemption ??
shakil shaikh
secretary
rahat co.op.ho.soc.
gabheni surat gujarat
9913727127
pundalika achyuta bhat
30 July 2014 at 22:24
Sir, whenever Banks deduct TDS from the customer's Fixed Deposit, they issue Form No.:16A. In that Form I have observed various headings specifying to which category TDS has been applied. However I have observed 2 such headings as below:
1) " Interest on Securities"
2) "Interest other than 'interest on securities'.
Now I want to know the meanings of both the above headings. I request experts or any one well versed in the subject please help me to understand the meanings of above 2 headings.
Sir, after the reply is received I have some more questions to ask, which please note.
With regards, Pundalika Achyuta Bhat.
pundalika achyuta bhat
30 July 2014 at 22:05
Sir, my daughter works for IT company as a permanent employee and earns regular salary income. On verification of her 26-A income tax credit details I have found out the following:
Int. on Bank Fixed Deposits ... Rs. 21,912
Payment received from XYZ Co... Rs. 5,760
Total ...Rs.27, 672
As per existing I.Tax law Interest on Bank Deposits up to Rs.10, 000=00 is not taxable. In the case of company deposits interest up to Rs.5, 000=00 is not taxable. Now my question is how much of Rs, 27,672=00 is treated as Income from other sources? Which one of the following is right? :
( A) 21,912 - 10,000 = 11,912 + 5,760-5,000=00= 760 (Rs.11, 912 + 760 = 12,672=00 -OR-
(B) Rs.11, 912 + 5,760 = 17,672=00. Which of the following is right? (A) -OR- (B)
With regards, Pundalika Achyuta Bhat.
Ajay Agarwal
29 July 2014 at 20:27
Dear Experts
Please tell me rate of tax i.e vat/cst
- when a trader of haryana send/sale Mustard seed to buyer of U.P
1. is there cst charge or not
2. if yes, rate of tax on mustard seed
3. And what is treatment in vat return when haryana trader paid vat @ 5% on mustard seed to seller of haryana.
Thanks
Ajay
MOTILAL JHALANI
29 July 2014 at 10:21
Sir,
My friend is residing at Dubai since 5 years. His status is NRI as per Income-tax Act. He has salary income of Rs. 30,00,000/- yearly there. He is regularly filing his Income-tax return regularly in India showing his interest etc. earned in India.
1) Whether his income is taxable in India? If taxable, than under which section. If exempted under which section of Income-tax.
2) Rate if Income-tax if any and the rebate allowable to him as NRI.
With regards,
(Motilal Jhalani)
DEBDULAL PATRA
29 July 2014 at 09:27
Sir,
I have a query about TDS Not deducted FY (13-14) by a educational Institution for the FY they want to proper procedure of TDS
Is it possible what is the requirement , how much penalties will be charged.
Regards
DEBDULAL PATRA
balakrishna vagicharla
28 July 2014 at 12:00
I have acquired my ancisters property in khammam.In muncipal records it is showing only 49 sq.yards accordingly property tax has been paid from the biginning but my actual site measurement comes to be 103 sq.yards.shall i approach muncipal authority to recheck my house measurements and update taxation or can simply leave it as it is. if i want to construct a new house will they grant plan approval for 103sq.yards.tell proper procedure to legalise this matter.
with best regards
balakrishna vagicharla
Bhaskar
26 July 2014 at 10:27
Dear Sir,
I have plot which I am planning to sell in next few month around 60 lakh. I have booked one flat of 75 lakh last month where I am going to get possession by next year end. Can I get income tax exemption on plot sale as I have bought flat recently ? or new property booking must happen only after old sale then only can claim tax benefits ?
Thanks in advance,
Bhaskar
Nupur
25 July 2014 at 22:50
Hi,
Last year (Aug 2013) I have purchased a flat from an NRI via his GPA holder (his father). At the time of purchase he didn't provide PAN number as he has no PAN number with him. But he told that he has already given an application for PAN to Income tax department. However he has not received the PAN yet. so my query is
(1) What are the option available to me if he doesn't provide PAN. He has already given TDS (1% of sale price) money to me.
(2) Can I submit TDS using GPA holder's PAN number ?
(3) What next step should I take to safe guard my interest.
Thanks,
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