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kishorchandra p mehta   14 July 2022 at 12:58

Fixed deposit interest

RESPECTED SIR,

I AM HAVING SAVING ACCOUNT IN MY NAME WHEREIN THE INTEREST OF MY WIFE IS BEING CREDITED. THE FIXED DEPOSITS STAND IN JOINT NAME WHEREIN FIRST NAME IS OF MY WIFE.
IN THIS REGARD, PLEASE LET ME KNOW, FOR FILING INCOME TAX RETURN, THE SAID INTEREST SHOULD BE TREATED AS MY INCOME.

KINDLY GUIDE IN THE MATTER.
THANKS.
K.P.MEHTA

Anonymous   07 July 2022 at 13:25

Apartment of co-operative housing society

I am a member of a Co-operative Housing Society in West Bengal. I paid to the Society in instalments, the proportionate cost of land and cost of construction of the building during construction of the building. After completion of construction, the Society transferred the ownership of my apartment to me by a deed of conveyance. The stamp duty value of the apartment is the circle rate, which is higher than the construction cost paid by me to the Society.
My question is whether Income tax act section 56 (2) (X) (b) will be applicable for the transfer of ownership of the apartment by the Society to me?

Asim Das   30 June 2022 at 22:08

Gst related query

Sir,
A developer constructed multi storied building under joint development agreement . now this building contains various flat some having carpet area more than 60 sq mt some units less than 60 sq. mtr.
So while selling flats /residential units having carpet area less than 60 sq. mt. can he impose 1% GST and for those having more than 60 sq. mts. carpet area 5 % , the price limit being within the prescribe limit as per Gst law.
Please guide me.
Regards

Madhavi Dave   12 May 2022 at 17:50

Gujarat vat liquor registration

Dear Experts,
I have applied for Vat on 19.03.2022 then it was rejected by officer without issuing Deficiency note or any intimation . The I was told to reregister the application which I did on 11th April 2022.

The Office went to leave so as the Assistant Commission. Now Deputy Commissioner assured me to hear my case appointing another Officer she has issued Acknowledgement earlier 10th May 2022 and now 12th May 2022. It has already been two months but no response from Deputy Commission . Earlier Application Rejection Order was not issued.

What remedy on my part I want to file appeal but without rejection order I cant do anything.

Please help.
Thanks in Advance.

Paras Chhajed   11 May 2022 at 12:15

Income tax on state government department

Various battalions of state special armed forces are set up at various locations by the State Government. The battalion is headed by an IPS officer Hindustan Petroleum Corporation Ltd. has allotted a retail petroleum outlet to the battalion. The battalion got allotted PAN under the Government Category (PAN-AVCGB1453K) and also got GSTIN before commencement of business of selling petrol and diesel. The turnover during the year 2021-22 was Rs.8.53 crores and net profit was Rs.9.75 lacs.
Please advise whether the battalion is required to get its account audited u/s 44AB of Income Tax Act, 1961 and whether it is required to file its return of income. What would be the status of battalion for filing return of income, which ITR would be applicable and what would be the rate of income tax.

Paras Chhajed   08 May 2022 at 17:28

Condonation of delay in filing appeal

The Honourable Supreme Court in January 2022 finally passed an order extending all due dates for filing of appeal which fell between 15.03.2020 and 28.02.2022 till 90 days from 28.02.2022. In case of appeals to be filed before Commissioner of Income Tax (Appeals) or Income Tax Appellate Tribunal against orders passed between the above referred dates does one need to compulsorily file an application for condonation of delay and also to file an affidavit in support thereof ? Kindly guide. Thanks

Paras Chhajed   01 May 2022 at 19:32

Validity of document signed with expired digital signature

An assessment order under section 143(3) of the Income Tax Act, 1961 was passed by assessing officer on 30th March2022 which is signed digitally by him with an expired digital signature whose validity ended on 09th February.2022.

Please advise as to validity and legality of the assessment order digitally signed with an expired Digital Signature according to The Information Technology Act, 2000 or any other law.

Anonymous   07 April 2022 at 23:34

Claiming house rent exemption/rebate at the time of return

Respected Experts,

I have not claimed HRA exemption/rebate at the time of TDS from my salary in FY 2021-22. Can I claim HRA exemption/rebate at the time of filing IT return? My house rent per month is Rs.13500. I don't have rent agreement but I can show rent receipts and may pursue landlord to show his income from rent in his own IT return.

Regards

kunhi marakkar   04 April 2022 at 15:25

Income tax

I sold my deceased fathers property . my share is near to 28 lakh rupees. if I deposit this money altogether in a single bank account will any tax deduction come?

Anonymous   03 April 2022 at 02:33

Paying house rent to parent

Hello,

Can I legally pay house rent to my father, who is a retired govt. servant, and claim tax exemption? The house is in my father's name and I plan to pay rent by online account transfer as a proof of payment.

Regards


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