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Biswajit Parida   10 August 2013 at 21:15

Central excise related query

HI,
Am working with a IT company and has four locations in different city. We have covered under STPI(Software Technology Park of India) Act to get the excise duty and others benefits.

We had a location in Noida which was covered under STPI as well as bonded under Excise Act to get the benefit of excise duty but we never purchased anything nor get any benefit of excise duty. After a period of six month we vacated that location and forgot to deboning the location.

in such cases what action can take the Excise department and what would be the penalty.

Seeking advise.............




n k s prasad   09 August 2013 at 15:50

Donation to political parties

sir

pl guide me whether Central Govt employee can donate to political parties. if so, under what section he/she is exempted from Income Tax. Whether donated, will not attract any disciplinary action.

Atul Khanna   08 August 2013 at 15:28

Restoration of pan card

I am holding PAN Card No. AIZPK4262E since 2003 and have been filing my income tax returns on this PAN since AY 2003-04.

Around one and a half to two years ago, when I tried to register my PAN for E-Filing, I noticed that another PAN card numbering ADOPA3985H is being shown as issued in my name. I was unable to file the returns online and had to file manual returns. But my TDS deductors were able to credit the TDS deducted by them under this.

I, at this juncture, approached the Income Tax Directorate, Grievance Cell with my petition, which has given the procedure for restoration.(Copy attached)

The letter clarifies that in the de-duplication process, the card with no AIZPK4262E had been deleted and another card numbering ADOPA3985H, (issued some time in 2001 but not known to me) is retained. The letter also clarifies that after following a prescribed procedure PAN Card numbering AIZPK4262E, which I am using, can be restored and PAN card with no. ADOPA3985H can be deleted after due verification.

All my TDS and other PAN related affairs are done through AIZPK4262E.

I was unable to create the e-filing id and unable to view 26AS.

To top the confusion, AY 11-12 IT returns were not accepted manually under AIZPK4267E and the office boy who took it filed it under ADOPA3985H.


jay prakash dubey   08 August 2013 at 11:40

Stipend income

Dear Sir/Mam
>I am pursuing D.N.B(After completing M.D.) duration of course is 3 years
>and I received Stipend which is also mention in my admission letter.
>also all the condition of stipend is satisfied which is laid down by ITAT & High court decision
>however TDS u/s 192 is deducted while my income fall u/s 10(16)


QUESTION:-
>in such a case may i claim Refund of full amount of TDS if i dont hane any other head income????
>what should i do for non deducting my TDS???

M.Sivakumar   07 August 2013 at 22:44

Foreclosure charges on home loan

I understand that as per RBI circular on June 2012, foreclosure charges on prepayment of home loan is abolished. But apparently there is some fine-print to it which I cannot fathom. Please clarify :

1. I have taken a home loan account with a bank as on 2004.
2. I topped up the above loan on Aug 2006.
3. The earlier loan taken on 2004 is closed and the a new loan was made effective as on Aug 2006.
4. On August 2013 I decided to foreclose the above loan and applied for a foreclosure statement.
5. The bank provided me a foreclosure statement which included pre-payment charges.
6. When I queried the bank on the pre-payment charges (which is abolished by RBI) they said it is valid and provided the following explanation : What I have taken is Home Loan Enhancement and not Home Loan. And hence the prepayment charges apply.
7. I dont understand the difference between Home Loan and Home Enhancement Loan - for all practical purposes both are same. The only thing I did is take an top-up on the original loan amount sanctioned. Can any of the expert clarify whether the stand taken by the bank is correct ? Or they are just escaping on fine-print ?

AMIT BANERJEE   07 August 2013 at 16:02

Change in tds circle from kolkata to mumbai for purposes of lower tds certificate u/s197(1)

We provide manpower services to clients and TDS is deducted u/s194J

Few important clients are based out of mumbai

Head office & Registered office is in Kolkata and TDS circle is also in Kolkata

want to shift Head office to Mumbai due to the comfort of the important clients,without changing registered office(centre of operation to continue in kolkata)

can we do the same just by changing the jurisdiction details of PAN

will this allow us to seek lower TDS certificate u/s197(1) for TDS deduction u/s 194J from Mumbai rather than Kolkata

Do we need to file returns henceforth from Mumbai?

Will change in jurisdiction affect our existing service tax registration,PF/ESI Registrations or can we continue to file the same online with communication/inspection /audit etc from Kolkata as is currently?

JAIN OM   07 August 2013 at 09:23

Sta,p duty on stock market transactions

Dear All

One of Our client is online stock broking company having its office in Delhi. he Dont have any office other than Delhi. The clients are registered across India. Know teh questions is about applicabality of Stamp Duty, whether we shall collect as per Delhi or respective state where client resides.

Thanks you in Advance

Regards

The Other states are demanding as per the residential status of Customer. If we have any case study on the same can help us. Please provide any ruling if available or any of us have handled similar cases can reply to me at om@taxiq.in

Abhijith Jayakumar   06 August 2013 at 14:22

Company not giving form16, pending salary & pf

I was an employee of Acropetal Technologies Limited for 11months & quit in Feb 2013. Though its been 6months since I left the company they refuse to pay me pending salary & allowances. The company also refuses to give my Form16 stating that they haven't payed the taxes, though it was deducted from our salary. The PF details they provided also seemed to show as fake on the PF website. Please suggest what do I do since they are not even responding to calls/emails

sewa ram jain   06 August 2013 at 12:19

Gift to huf

IF FATHER GIVES GIFT TO HIS SON'S HUF EITHER BY GIFT ITSELF OR UNDER WILL BEING LIVE IS TAXABLE IN THE HAND OF SON'S HUF.
S.R.JAIN/MEERUT/6-8-2013

PanesarKDS   05 August 2013 at 19:05

Around 10 lakhs deposited in sb account in fy 12-13

Hello Gurus,

Please help in resolving a query that I have got into. I had deposited 10 lakhs (in 2 times & 5 lakhs each time) in my joint account with my wife. We had received an amount of 23 lakhs (9 lakhs via cheque & rest in cash). I had to deposit all this money in my account as there was no way of keeping this money at home. Now, my CA is telling me that he cannot show any source of income for this 10 lakhs & other smaller deposits made in my account & we have to pay the tax at around 30%.

Please suggest any ways for getting this sorted out correctly, as I have never been involved in these kind of things & may have made some mistakes regarding the cash handling.