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Shah Nawaz Bakht   26 February 2014 at 16:37

Income tax prectice as an advocate after retirement from govt service

Sir,
I was working as a Senior Auditor in a U.P.Govt department.After completing 60 years of age I have been retired.My educational qualification is M.Com,LLB(Academic).Now I am interested in income tax practice as a lawyer.
So you are requested to please let me know whether I am entitle for practice or not,because I have two years LLB (academic) degree.
With due regards,

yours Sincerely,

Shah Nawaz Bakht

saikiran   26 February 2014 at 15:27

Toll tax legality

Every state government collects toll tax. I would like to know under which entry number under schedule VII of Constitution of India, the power has given to state governments to collect toll tax for using roads?

To collect toll tax there must be some law and act, so under which act or law state governments collects toll tax?

When a state government can collect toll tax? Please provide section number of some act, I will refer it.

Thanks in advance
Saikiran

hdshardik   26 February 2014 at 07:31

Capital gain issue on no cost of capital asset

what is the taxability under capital gain in below eg - 1.when cost of fixed assets which follow under capital assets 2.this assets has a cost when it is purchased . due to adoption of amortisation method , now cost comes nil. 3. when this is put to sale , how to treat the consideration received on account of sale ? is it taxable ? if yes under which head? who will pay tax?

pooja dedhia   26 February 2014 at 07:30

Taxability of capital gain wher cost is nil after amortizati

what is the taxability under capital gain in below eg - 1.when cost of fixed assets which follow under capital assets 2.this assets has a cost when it is purchased . due to adoption of amortisation method , now cost comes nil. 3. when this is put to sale , how to treat the consideration received on account of sale ? is it taxable ? if yes under which head? who will pay tax?

Satish N Shetty   25 February 2014 at 11:26

Filing of income tax returns

I was an employee of a firm where I worked for entire 12 months and received salary for only 7 months as the company had cash crunch. while I received salary , tax was also deducted every month. This tax that was deducted has not been submitted to Income tax department. Requesting for advice on how do I file the IT returns. If I show the income, tax department will ask for tax against the same. But since the tax is already deducted, it will be as good as paying tax again.

also would like to know how do I recover my full and final settlement ( balance 5 months salary )

Jimit Sukhadia   24 February 2014 at 17:47

Eligibility of depc licence sales against form c in gujarat

Dear Sir,

Is there any case study which proves eligibility to sale DEPB Licence sale against Form C in Gujarat. The Accessing authority is in viwe that DEPB Licence cant be sold against form C..

Thanks,

Jimit Sukhadia

Sujit Kumar Ray   24 February 2014 at 16:49

Rebate u/s 87a and tds

One of employee has not provided PAN Number. Hence we have to deduct TDS on his Salary at higher rate as applicable.

My question is to calculate TDS on his Salary, he will get benefit u/s 87A or not? His income from Salary is less than Rs.5,00,000.

Sabyasachi Acharjya   24 February 2014 at 14:02

Int. on house building loan u/s-24(b)

I & my wife have availed House building loan jointly for one house since the property is documented jointly. Int on HBL is Rs. 2,00,000/- for FY-13-14. My wife is a house wife & she is not having any source of income.I have been paying the EMI out of my salary income & filing IT return . Shall I avail 1,50,000 deduction U/S-24(b)or Shall I avail only 1,00,000/- since the loan is joint account.

Gorthi   24 February 2014 at 11:47

K vat _vat rates on urd purchases

Dear All,

Please confirm what is the latest VAT Rates on URD purchases of Cement, Jelly etc of Construction material under Karnataka VAT act.

Is there any difference in VAT rates under composition scheme if purchases made from URD /RD

Gorthi   24 February 2014 at 10:37

K vat- reply to notice u/s 75 of k vat 2003

Dear All,

Can anyone one provide me the format to give the reply u/s 75 for K Vat 2003.

To have the background Commercial officer has visited our Construction registered office where no one is preset. Office issued show cause notice for penalty 10k and gone .
Now would like to know is it mandatory to pay 10k, how do i reply for notice, and can reduce amt to lower levels.

Earliest reply could be appreciated.