gautam
12 July 2014 at 21:32
recently, i have purchased a flat in delhi. i and my wife were the co-applicants while taking home loan. however, property has been registered in the name of my wife who is a house-wife. whether i can claim the tax exemption on the interest paid to the bank? before i posted this query to this forum, i went through some experts' opinion made on the subject. some say 'declare the property as benami transaction'. some say 'take whole of the property as gift from wife'. another option is to become co-owner.
plz suggest what course of action should i opt. i have to take tax exemption.
i m the main applicant in the loan, mr dhingra
thnx
curious123
12 July 2014 at 17:35
I have sold a property after 8 years of its possession. I know I can use the indexed value of initial cost price of the property for calculating long term capital gain. I can also include (a) any expenditure/expenses done on the property's improvement, renovation or maintenance (b) expenses on selling the property like agent's commission, lawyer's fee etc. My queries are:
1. Do I need to submit proof for the expenses on the property? If yes, most of the time either we do not keep the bill or we do not get bill for not-so-expensive civil works. So in this case, what is the provision?
2. Can property tax, society maintenance bills be included in the expenses?
3. How do we get the indexed value of these expenses spread over years?
navin pujara
11 July 2014 at 12:58
One of the professional is charging consultancy fees on the basis of per day and separate invoice for travel expenses at fixed rates and without any supporting of travel expenses claim. Would like to know provision related to TDS i.e. whether to deduct TDS on travel expenses reimbursement invoice or not as 10% deducted on invoice of professional fees.
Dhirender Wadhwa
10 July 2014 at 23:44
my bank has been deducting tds on the fd and other interest in my saving account but no intimation or certificate was issued.. also no entry of such deduction reflects in passbook..
now I came to know of the deductions for the past 4 years.. can I claim these tds in my current itr. kindly help
Krishanu Majumder
10 July 2014 at 15:43
Dear sir, I have some queries about capital gain from sale of house. Those are following-
1) assessee purchased a flat with his own money but a portion of selling consideration was received in his bank and the rest was in his wife's bank, who is a housewife and was not involved at the time of purchase.
2) they booked a new flat and the payment was made from his and his wife's bank. How to show this gain? Should his wife need an it file?
3) father purchased a house that a son inherited and sold? Should it be capital gain? If Yes? What's the cost price? Is it the price his father purchased with?
4) sale deed is signed on march14 but sale considerations is received on april14. For which year it will be capital gain?
5) assessee encashed the sales considerations in normal savings account though he booked a flat within 2months of receiving the cheques. Can he get exempting u/s 54? pls reply soon.
PRASHANT KULAVADE
10 July 2014 at 13:27
Dear Sir,
For NRI non executive director,whether profession tax in maharashtra is required to pay.our compnay is registered in Maharashtra.
hetalsangoi
09 July 2014 at 11:52
When my father has purchased the property that time consideration is paid along with fsi right . Now I want to sale the fsi . Is tr of fsi to third parties a capital assets transfer? If yes how to classified the my property purchased cost between structure and fsi . When I go through the agreement there is no separate consideration calculation for fsi . Pl guide me
Neeraj Kumar Giri
08 July 2014 at 23:46
Respected Experts,
Kindly give your advice :
I am a business man and engaged in my business of work contract since 1996, and use to provide service of work contract in Eastern Coalfields Limited and other Private Institutions, I use to quote Tender for the work order,and my turnover in the F.Y.2012-2013 was 35 Lakhs, without charging any service tax & 2013-2014 was 95 Lakhs, without charging service tax in Invoice, against which the Employer use to deduct 2% TDS for Income Tax and after deduction they pay me by cheque. Before getting registration in Service Tax, I have not raised any Service Tax from the Eastern Coalfields Limited,in non of my bill. After that on 01/04/2014 I have registered myself under Service Tax and got the Certificate from the Superintendent. Thereafter, on 02/05/2014 a notice of enquiry has been served by the Range Superintendent of Service Tax, to me, requiring to furnish the last 5 years Balance Sheet, Profit & Loss A/c, Bank Statement, TDS certificate, Work Order, etc. In this case I meet my consultant to sort out the problem, then he approached to the Superintendent with all relevant documents, the Superintendent told him that, I have violated the general rule of Service Tax and have registered too late. Hence, I have to pay the due service tax because I have crossed the threshold limit in F.Y. 2012-2013, have to pay the Service Tax which will be about 12.36% of 35 Lakh.
Under such circumstances please provide me reasonable answer that what is the solution for this, my pleader contended that the I have not collected service tax from the employer then how can I pay such huge amount.
Is there any Judgement or reference in this regard.
Thank You to all experts.
Please reply.
govind mittal
08 July 2014 at 10:44
sir, I am a registered coal trader in c.g. state. I purchase coal from secl. secl sales coal in two conditions 1. coal for within state in which they charge 5% vat. 2. coal for other state in which they charge 5% cst without c form. in both conditions this is printed in d/o . sir my questions is when I purchase coal for out state and mantion that I purchase coal for state u.p and w.b , then secl issue the d/o for the same charged 5% cst. some of the official of sales tax tells that you have to pay the vat of 5% because u sale this coal in c.g. for delievery in u.p. . I tell this thing to many traders they all says sales tax officer tell him to do that also. I am puzalled when I purchase coal for out state and sell it to out state then why I have to pay cst, when I pay cst for that in full 5% rate. what I have to do, what I mention in bills I issue, if I have to collect cst and pay. what the rule says, . problem is when a trader purchase coal for state he has to pay vat @5% . he stock it and than sales to other state @ 5% or @2% with c form , than he is intitled to clam itr of tax . if I do the same they told to pay extra cst of 5%. please help me in this. if any book available in hindi in cst than suggest me. if any sitetion available ple refer me.
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