balwinder
16 August 2013 at 13:42
sir i have given a property on lease to public sector banks and private limited companies for the last few years .however now my gross rental receipts exceed rupees ten lacs.so now i am under service tax bracket.somy questions are
1. legally should i recover service tax from the tenants including publis sector banks by raising invoice in their favour and whether banks are liable to pay service tax on rental income or not
2. can i claim some kind of deductions(maintenance of property etc) on my rental income to reduce my net rental income to avoid service tax bracket
or please advise how i can escape from service tax bracket lawfully
ajay kumar sarawogi
15 August 2013 at 20:00
i have a agency in name of my huf. and got
commission of 3 lakhs for current financial
year 13 - 14. TDS was deducted in name of huf
and credited to form 26A. bank account is in name of HUF.
1) will it be treated as huf income as agency
is name of HUF. and TDS was also deducted
in name of HUF.and Bank account is also in
name of HUF.
2) Or it will be treated as individual
income of Karta. and there may be
clubbing of income. IF YES, what is the
way to escape clubbing
JATINDER MANCHANDA
15 August 2013 at 16:19
Please advice on service tax collected on rent on immovable property from 2008-2012 deposited before 30.09.12. ST return filled. Liable for interest/ penalty.
PRAKASH
14 August 2013 at 19:35
I want to whether a state govt employee can be a commssion agent of Rose valley marketing India pvt Ltd,as he was an agent earlier in the said company and after 1 year he got the state govt job.Plz give me the information.
CA Shraddha Vora
13 August 2013 at 15:05
Query on Addition made by AO under scrutiny 143(2), which is offered by assessee to buy peace of Mind
Assessee is engaged in the Business Custom House Agent (CHA) and deriving income as Agency Commission. The Modus Operandi of the assessee is that it makes payment on behalf of client to clear the goods of the client and these payments are reimbursed by the client by issuing the debit Notes. Assessee charges Commission for this service which is its income.
From this modus operandi assessee claims two types of reimbursements from its client i.e. One for which assessee have the supporting and other part of which assessee did not have the supporting. The other parts of reimbursement are purely cash expenditure having only self-made vouchers and no other supporting.
During scrutiny proceedings AO asked to submit the Debit notes issued to client and he found that other part of payments did not have supporting. Further AO asked why this reimbursement payment did not have any the supporting’s?
In reply to this assessee explained the modus operandi as stated above and to buy peace of mind offered some percentage of cash expenditure which is made on behalf of client for addition. Now AO is of the view to impose the penalty on these additions u/s 271(1)(C) of the IT Act.
Kindly reply, is there any way to get the relief from the penalty imposition on the addition which is offered by the assessee to buy peace of mind? Kindly suggest if any judicial pronouncement in support of the same line of business???
From Chandan
Nirmalkumar Ojha
13 August 2013 at 12:08
Dear Sir,
Kindly suggest me the form and procedures for filling of returns under luxury tax act 1987.
SHASHANK SHEKHAR DASH
11 August 2013 at 19:40
Pl clarify whether notice period recovery csn be part of assessable income in form no 16.
Upendra P Sinha
11 August 2013 at 14:46
I have purchased a under construction flat at Navi Mumbai and the sale agreement (Value Rs. 50 Lacs)was registered in Jun 2009.
Kindly let me know the amount of VAT applicable to be paid by the buyers to the developer. The developer has demanded 2.5% of the sale agreement value.
What is the amount required to be paid. What if the same is not paid. Please advise.
Thanks & Regards
pooja dedhia
11 August 2013 at 13:41
"The Partners shall be entitled to modify the above terms relating to remuneration, interest etc, payable to the partners by executing a supplementary deed and any such deed when executed shall have effect, unless otherwise provided from the first day of the accounting period in which such supplementary deed is executed ad the sane shall form part of this deed of partnership."
we all partners are agreed mutually to charge the interest on capital at 10% p.a. on partners capital account.we have not mentioned the w.e.f. date in the supplementary deed dated 22.02.2013. As per the above quoted clause in the main first deed of firm,is we are right to provide the rate of the interest @ 10% on the opening bal of the capital account on 1.4.2012 ?
kindly provide the guidance on above query?
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Query regarding h form
Suppose there are 3 company x,y,z in same state.
Y purchase material from x against h form.
Z purchase same material from Y against h form.
Now Z export same material.
Can Z submit bill of lading to X company.?
It is valid or not plz reply me soon.
Thanks