hetalsangoi
22 September 2013 at 17:54
We have give Rs. 500000 as a token for finalization of deal to purchase the Land and Building to the seller. We have paid the professional fees which are as follow for purchasing the land and building. 1. Lawyer’s fees for drafting of deeds get for conveyance and power of attorney – 100000 2. Professional fees paid for search title – 8000 3. Survey report for measuring the area of the property. – 17000 Can above expenses included in the cost of purchasing Land and Building is it Capitalized in Books? Is it allowable and Income Tax Act.
gope shahani
22 September 2013 at 11:15
I will like to know the working of long term capital in case of sale of flat.The three years period
will be calculated from date booking or date of registration or date of possession.pl let me know thanks
Nookala Subrahmanyam
21 September 2013 at 11:51
We have been exporting our goods under the rebate claim ( on payment of duty under claim for rebate). The deputy commissioner sanctioned the rebate claim and appropriated the same to the issue pending before the Commissioner, without our knowledge. He has exercised the powers under Section 11 of Finance act 1944. As per the CESTAT Miscellaneous order No. 25453/2013 Dt. 02.04.2013 until and unless an assessee is managing the department for postponing the issue for adjudication the department should not initiate any recovery proceedingds. We have not infulenced the Commissioner(Appeals) to keep the Additional commissioners OIO for pending to adjudication. Pl clarify whether they can appropriate the amount of Rebate claim against the issue pending before the Commissioner (Appeals). The Commissioner appeals alloted the appeal No. also but he did not fix any personal hearing. Pl let me know how far the assessee is responsible for these type of delays happend in the adjudication authorities level. Any way we are challing this rebate order before the Commissioner (Appeals) to sanction along with interest for period after completion of 90 days from the date of filing of our rebate claim in online. pl clarify.
Nookala Subrahmanyam
21 September 2013 at 11:38
Please clarify whether we are liable to pay excise duty on fly ash, which is being cleaned by some one in our factory. we have entered with an agreement that there is no monitory benefit between the fly ash taking away person and our manufcturing unit. Even thought the department is insisting us to arrive the duty and pay some thing. My contention is if the principle value is zero there no question of payment of duty. This is not being generated in our factory as a intention of final product or it is not an intermediate product to send to another unti for captive consumption to follow the Rule 8 of Valuation rules 2000. After 01.03.2011 department is giving presure to pay the duty on fly ash. This fly ash is being generated in our paper manufacturing unit due to using of coal in huge quantity. we have asked them to provide the way how to calculate the duty.But they are not returned with any answer so far. But in the Final audit report they have finalized to serve the SCN.
Rajendra Kumar Gupta
20 September 2013 at 10:45
I could not file Income tax of assessment Year 2010 -11. Now AO send a letter to me to send acknowledment No. of income tax file from AY 2010 -11 to 2012-13 in 10 days. on other page are mentioned showing some detail of purchase including home purchase in 2012-13 on loan. Since I am salaried person no tax liabilities is there in AY 2010-11. Please advice what I should Do
Adv. Ishan Malhotra
18 September 2013 at 14:04
Kindly suggest over my case taken over by jt. commissioner.
Lotteries considered under business auxillary.
But my client is a selling agent appointed on behalf of the government.
have annexed my reply. Precedent so attached is only upto 2008 but my client was involved in till 2010.
Kindly clarify and sort my query.
DV victimmmm
17 September 2013 at 13:22
Dear experts,
Form 26AS about TDS can be generated on the site https://incometaxindiaefiling.gov.in/. It can be printed in a PDF format.
Does this document has any leagal value. Can I produce it as an evidence in the court as proof of my income and tax deducted.Thanks a lot for your suggestions and advice in advance.
vivek chatter
17 September 2013 at 08:06
I have received compensation for delayed completion of my flat to be used for residential purposes. Whether the compensation received is capital receipt and thus exempt or it is taxable?
The Flat is received after 6 months of due date. Total amount has been paid say 100 Lacs before the due date of completion. For delay caused compnsation of 5 lacs is received at the time of possession of flat.
Manish Sinha
16 September 2013 at 21:36
Hi and good evening,
I have sold a property for 35.5 lakhs and would be investing the money in purchasing another property within 1 month.
Original cost of property was 24.5 lakhs purchased in Sept 2010 under a CLP plan with home loan from HDFC.
I have closed the loan of 15.85 lakhs.
The agreement to sale is for 35.5 lakhs.
I hope there won't be any tax liablity.
What would be the formality at bank when I deposit the cheque.
Please advise.
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E-1 sales
Sirs.
I purchased goods from UP. Can I sold the same in UP as Sale in Transit by transferring the documents.Will my supplier make the invoice as the goods sold to me & consignee to my dealer of UP.