Rudresha MV
01 July 2014 at 19:15
Hello,
Can I gift one property to my sister through the gift deed registration and then take the money as a GIFT, is this OK? Will it attract the property Gain tax, will it be considered as evading the Stamp duty?. Please help
rajsinghkadyan
30 June 2014 at 20:04
weather additional tax u/s 7A of HVAT Act 2003 is levy able on BKO"S( Brick kiln owner's ). pl also explain weather the BKO"S( Brick kiln owner's ) is an retailer or wholesale dealer
aditya unchal
28 June 2014 at 18:03
I am working in a government department. We have invited tender for supply of bags.A company got the tender. That company supplied the goods as per our requirement specified in the tender and submitted a bill including VAT. Now, while making payment whether we have to deduct TDS? As per my knowledge Section 194C applies for work contract if raw materials supplied by us. But in this case we have not supplied anything. If it is comes under the section 194C? I am confused in this matter. Kindly clarify.
Thank you.
aditya unchal
28 June 2014 at 17:51
Sir,
I am working in a government department. We collect quotation from different vendors for purchase of items and issue a purchase order for lowest quoted vendor. We will not supply any raw materials to him. He sends the goods as per our requirement and submits a bill including VAT. Now, while making payment whether we have to deduct TDS? If yes, under which section and what is the TDS rate? Please clarify.
Thank you.
pankaj
27 June 2014 at 22:58
my grandfather bought a flat in new delhi in 1960 for Rs 20000 .
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the property was inherited by my father in 1995 .
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which in turn was inherited by my mother and I , after my father passed away in 2001.
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in May this year 2014 , we have sold this property for 3.25 Crore
my father had spent Rs 5 lacs for building a structure on the second floor in 1996.
there are a couple of points i would need clarity on :
- the indexation of fair market value of property would be considered from 1 april, 1981 or from the date my mother and i inherited the property from my father i.e 2001 .
- my mother and i could invest 50 lacs each in tax saving bonds(NHAI, Rural electrification scheme) or is it the combined limit .
could you help me with the calculation of capitals gain . i would really appreciate our help in this regard .
thanks
pankaj
Deepak Saini
27 June 2014 at 15:12
DEAR USERS ON OF MY CLIENT( A PRIVATE CO.) BOOK A STALL IN A TRADE FARE AT KENYA THROUGH A COMPANY IN DUBAI AND PAID $3000/- IS THERE ANY TDS ON SUCH TRANSACTION
IF YES THAN RATE OR IF NO THAN REASON PLZ SPECIFY THE RELEVANT SECTIONS.
Uttam Kumar Borthakur
27 June 2014 at 10:47
A statutory authority under a state or central Act are apparently artificial juridical person. Similarly, a deity too is an artificial juridical person. Therefore, while applying for PAN, the status ought to be 'Artificial Juridical Person'. However, the problems arises, when such authority or deity is also 'charitable' institution. If its status is filled up as Artificial Juridical Person for the purpose of e-filing of return of income, the option of filing the return in Form 7 (for approved charitable institution) is not available unless the status is filled up as AOP (Trust), which is not the status as per PAN registration, and other problems showing mismatch arise. What is the remedy for this problem? What is AOP (Trust), it is not defined in the Income Tax Act, 1961?
Neeraj Kumar Giri
26 June 2014 at 00:43
Dear Experts,
Kindly advice me upon the case.
One of my friend who is engaged in hardware shop in West Bengal, and the shop is very small and some how he use to survive by the help of the shop, but recently a Notice u/s 66(1) of W.B.VAT ACT-2003 has been served by the Sales Tax Officer, in which it has been demanded to produce Sale Register, Purchase Register, Bill, Invoice, Cash Memo, Balance Sheet & Books of Accounts.
The same has been produced before the Sales Tax Officer and as well as he had registered himself u/s 24 sub section(1)sub clause (b), and after hearing upon the notice u/s 66(1) The Sales Tax Officer was satisfied and dropped the case by marking remarks on the notice by writing that "the case was discussed and the assessee has registered himself under VAT ACT, hence the case is dropped.
Thereafter, again the same officer served a Notice in FORM 4, (Notice calling for objection against imposition of penalty under sub-section(4) of Section 23 or sub-section (2) of section 25 or sub-section (5) of section 40 or sub-section(1) of section 30C or sub section (4) of section 39 or section 101 of the west Bengal Value Added Tax,2003.)
Stating that the assessee have failed to comply with the provision of Section 64, and failed to produce books of Accounts as prescribed u/s 66A read with rule 93A.
Under such circumstances I would like to ask my experts that the same Sales Tax Officer who issued me first Notice u/s 66(1) has himself dropped the case and again he served me another notice u/s 65 & u/s 66A read with rule 93A on the basis of first notice, is it not a form harassment conducted by the Sales Tax Officer, is he not misusing his power of being a Government Employee.
I would like to ask my experts that under this situation can I file a case of Harassment against the Sales Tax Officer.
or what to do to come out from this problem. Please specify with rule and section under particular Law.
Thank You.
MILIND P. PARANJAPE
24 June 2014 at 20:19
Can appeal withdrawn be restored after rejection of revision
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Excise registration
pls advise if a proprietor concern procuring goods and send for jobwork to manufacture finished product. Later the finished product he sells to another manufacturer. Please advise if his turnover crosses 1.50 crores he has to mandatorily get excise registerration or not. will there be any litigation in this case