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YAGNESH HASMUKH DAVE   01 April 2014 at 13:26

Taxation

I AM HAVING RESIDENTIAL CHAWL,SELF OCCUPIED BLDG, AND ALSO 2 RESIDENTIAL FLATS THE RESIDENTIAL CHAWL AND THE FLATS ARE ON RENTED DURING THE AY-2012/13 I HAVE SOLD LAND AND OUT OF SALE PROCEEDS OF LAND I HAVE PURCHASED ANOTHER RESIDENTAIL FLAT FOR RS 80,00,000/- WHETHER THE SAID FLAT PURCHASED BY ME CAN I ENTITLED FOR DEDUCTION U/S 54F BEING INVESTMENT IN NEW RESIDENTIAL FLAT EVETHOUGH I AM ALREADY HAVING 2 RESIDENTAIL FLATS ON RENTED OUT PL EXPLAIN

Keerthi M   01 April 2014 at 11:09

Query regarding lease

Hi Sir / Madam
I have a query regarding a lease of land to buid a School.
A international school has approached us for leasing a land to build a international school for a period of 30 years.
will there be any legal problems at the end of the lease period of 30 years, as it is a school.
please assist me in the same

SHEKHAR KUAMR   31 March 2014 at 20:09

Gujarat vat

Can a commercial tax officer under gujarat vat act, pass assessment order at its own, keeping aside the facts and figure of the case on the last day of the date for completion of assessment, without considering the facts and statements given by the party.

Amit Dabral   30 March 2014 at 17:46

Application for more than one pan card

Hello Sir,

I applied for PAN card 4 years back, but did not receive the same, after that i applied 3 times, but did not receive either.
I don't have a single PAN card out of those 4, what should I do? I never deposited Tax on any PAN. Due to not having any PAN card currently my employer deducts double amount of Tax from my salary.
Please suggest, will I have to pay penalty of 10000/-. or there is any other way to get out of this problem, I never deposited tax on any PAN.

JAYANTA ROUTH   30 March 2014 at 13:02

Tax on developers

SIR,

I AM GOING TO PURCHASE A RESIDENTIAL DUPLEX FROM A DEVELOPER COMPANY (PVT LTD) IN WEST BENGAL THEY ARE PLANING TO SELL THE DUPLEX AS PER FOLLOWING TERMS AND CONDITIONS :-

25% CONSIDERATION FOR LAND VALUE, LAND WILL BE REGISTERED IN MY NAME.

25% CONSIDERATION FOR LAND FILLING AND COMMON INFRASTRUCTURE, PAYMENT MUST BE CLEARED BEFORE REGISTRATION OF LAND

50% CONSIDERATION FOR CONSTRUCTION OF DUPLEX AFTER REGISTRATION, ALL THE MUNICIPAL PERMISSION ETC WILL BE IN MY NAME.

MY QUESTION IS :
A) IS SERVICE TAX APPLICABLE ON TOTAL 100% CONSIDERATION ?

B) IS WORKS CONTRACT TAX / VAT TAX IS
APPLICABLE SINCE AGREEMENT SHOWING CONSIDERATION FOR CONSTRUCTION SEPARATE ?

C) IF VAT / WORKS CONTRACT TAX APPLICABLE THEN COMPANY NEED TO PAY SERVICE TAX ON THAT AMOUNT ALSO ?

Rupesh   28 March 2014 at 20:33

Tax deduction on fd

Hi,

My mother is housewife and having Fixed Deposit of Rs 10,000,00 in bank; interest rate is 9% p.a.

Pls let me know how much income tax she has to pay on this FD interest and how to avoid this tax?

niky......   28 March 2014 at 18:20

Loan agreement to parents, notrify is required or not?

Loan given to parents need to be signed in front of notary or i can have it on a 100 rs stamp paper and that can suffice?

Also if have already given an amount say on 1st march and i havent created an agreement till later date, can i make an agreement say on 15th march and then mention in that agreement tat i had given a cheque on x amount on 1st march?
Or is it necessary to have a cheque dated post agreement date?

Also can i draw the check from my current account or it needs to be a saving account ?

Kapil Tiwari   27 March 2014 at 19:22

Filing mother's income tax return as "legal heir" because of her death

Dear Sirs,

My mother expired a month ago and I have to file her Income Tax Return for FY 2013-14 (AY 2014-15). However, for filing the Return, I must be registered as a legal heir on the Income Tax Website.

To register as legal heir, the main document required is a "Legal Heir Certificate". I need a "Legal Heir Certificate" only for filing of Income Tax Return. Kindly guide me as to the easiest procedure to obtain this legal heir certificate in Mumbai.

Secondly, we are 4 children and the other 3 do not have any objection to my obtaining the said certificate.

Your guidance will be highly appreciated. Thanks.

SANDEEP KUMAR   27 March 2014 at 16:33

Advisory

A is a retired person, who is providing advisory services to a company with the designation "ADVISOR". The company pays him a fixed amount every month but he is not on the roll of the Company.

At the end of the year, the company issues him Form 16 under Income Tax Act. The advisor contends that Form 16 is applicable for employees and not for advisors.

Is Advisor right? If so, which form should be issued to him by the Company in place of Form 16.

sayed nisar   27 March 2014 at 15:44

Property tax

Dear sir
I Purches one plot in 1992,that time my plot is coming under gram panchayat, I constructed house on that plot. regularly I paid tax to gram panchayat. after that in 2000 our area is came under municipal corporation. from that time till now I am
submitting my tax(Ghar Patti Pani Patti including tax)regularly to municipality. now when I asked to tallathi he his asking me land tax for the above said plot on which my house is constructed. as per rule is it true/wright to pay the tax for one plot to the difference authority like municipality and tallathi both please give me replay