YATIN
10 May 2013 at 18:42
Sir
My father by his WILL had formed a discretionary family trust. After his death the said trust was formed and its return are filled regularly showing its status as” Individual” which is possible as one discretionary trust created by WILL enjoys status of individual as per Income tax law.
This year its manual return was not accepted and were told to file e-return. After filling in all details we were not in a position to file Form 1. We were directed to go for Form 5 on site.
1) How do we file return of this trust as individual on I Tax website ?
The trust has only interest income and no business income.
ravi
10 May 2013 at 12:30
Interest on Cash credit account will be covered under section 43 B or not ? Why ?
My query arised because if bank charges interest on Cash credit then my loan amount increases and my balancing drawing pewer reduces and reduction in balancing drawing power does not mean repayment of interest.
Bhaskar Dey
10 May 2013 at 08:23
I have a residential house the construction of which was completed in 1991. I also purchased a residential flat in 2007. We don’t have son. Our daughters are already married and staying in their own houses quite far from this place. It will not be possible for them to come and stay in these properties. Nor it will be possible for them to maintain each property from such a distance. So we have decided to sale both the properties and buy a three roomed flat which will be quite sufficient for us (Husband and Wife) for the rest of our lives. I have calculated that the sale proceeds of each property individually will be less than the cost of the new flat. But the sale proceeds for the two properties combined will be little more than the cost of the new property.
My question is that, to get benefit of Section 54/54F of LTCG, can I club the sale proceeds of two old properties and invest in a single new property within the time frame? Is it allowable under this section? Or I have to purchase one new property each from sale proceeds of each property to get the benefit. I do not want to do that. I want to purchase only one property. I’ll request honourable experts to kindly answer my queries. Many Thanks in advance.
Stella James
09 May 2013 at 13:25
Dear Experts,
The finance department has deducted TDS for our employees without giving a prior information. The newly joined employees are not aware of the processes. No declaration has obtained from the newly joined employees.
Therefore I would like to know if there is any provision in Taxation law that the employer should collect the declaration from the employee or check with the employee before initiating the TDS deduction from their salary.
Thanks,
Stella
ashok thakker
09 May 2013 at 11:13
Sir,
Our advocate for VAT matter just informs us of deemed assessment for particular FY, since 2008-09,till date we have not got any intimation from Dept.I want to know if any system exists of issuance of any confirmation or certification in this matter,and notification thereof so we can pursue the matter.
pl advise....
regards,
ashok thakker
venish ladva
09 May 2013 at 11:01
if payment(e.g. for logistics services
) made to agents of foreign shipping companies then tds would be applicable or not as per section 172??
ashok thakker
08 May 2013 at 08:01
Sir,
We have changed the name our company four years back, with acceptance by ROC but missed to notify change in TAN,We have been filing nil returns so far, now it needed to deduct TDS and deposit.Request to pl guide how to notify it now and procedure thereof.
regards,
ashok thakker
Radhakrishnan K.V.
07 May 2013 at 23:17
My client is a co-operative credit society. Should they effect TDS on the interest paid on the deposits of nominal members?
Rajesh Dhingra
07 May 2013 at 13:11
sir
we are in netaji subhash place, pitam pura, new delhi-110034
which division and range we will fall.
thanks
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