S R agrawal
10 October 2012 at 21:52
Respected Experts and Ld. Advocates, there is a reference of Andhra Pradesh High Court Judgement in the Writ Petition No. 22816 of 1996 in the case of Amita Steels Pvt. Ltd. and Others Vs. UOI. The case relate to the manufacture of Bright Bars from Rods.
I request if I may get a citation of the judgement or full text of the judgement.
I shall be obliged if I may get it.
S R AGRAWAL
krishan jain
09 October 2012 at 04:43
I and many other retired persons are continous victims of apathy of the employer because of excessive deduction of income tax at the flat rate of 30%, whereas it is clearly stated in IT laws that TDS is to made as per slab rates.
This not only has been causing blocking of huge amount in IT deptt and further harassment in getting the refund back, thus huge loss to a retird person who otherwise is characterized as senior citizen.
All efforts made with the employer and the local IT office ha failed. Please advise suitable approach in this direction...Thanks
prasad
08 October 2012 at 22:25
I have query regarding applicable VAT and Service tax on property.
I have purchased flat in Pune, Maharashtra. Agreement was executed in
July 2010 and I got the possession in 2011.
Can you please tell me the applicable service tax and VAT rates for me?
Builder is telling I have to pay VAT by 5% and Service tax by new
increased rate(I think it is 3.6%).
Please advise.
Rajan Singla
07 October 2012 at 21:11
Sir,
please confirm can we purchase the LPG from other state against (CST@2%)Form "C" to use in restaurant
Restaurant want to use it for making Food for sale purpose
P.Parthasarathi
07 October 2012 at 12:35
Sirs,
My client is a co-operative society registered under the societies registration Act, 1860 in 2005. It is a co-op society created on the specific direction of the provincial Government to function inside the campuses of all the three Govt. Medical Colleges of the State and its function is to maintain the hospital, collect nominal fee for conducting pathological and radiological tests etc. and to use the revenue so collected for the upkeep of the hospital and improve the infrastructure. In other words it s object is to provide " medical services" to some people with nominal charges and to the BPL holders free of charges. It has not so far applied for Registration u/s 12A and the jurisdictional Income-tax Authority has now issued a notice u/s 148 for bringing to tax its income over expenses for all the 4 past years. Now the question is :Can the society apply for REg. u/s 12A to the Commissioner of Income-tax seeking the same from retrospective effect? Since notices u/s 148 have already been received the society, whose status under the IT Act would be AOP ( Co-op society ) should it pay the tax u/s 140A and then file the return even though it immediately applies for registration u/s 12A? It surely comes under the category of Non-Profit making institution that serves the public by providing Medical Relief as enunciated in the case of CIT v. P.Kishna Warrier(1972) 84 ITR 119 (Ker) and also falls within the scope of sec. 2(15) as amended by the F.Act, 2008 w.e.f asst. year 2009-10. Kindly suggest the chronology of actions to be taken by the client society.
Atanu
07 October 2012 at 12:19
Dear Sir,
I have a queries with regards to the VAT applicable for the property buyer between 2006 to 2010 in maharashtra. Govt is asking for the 5% vat where as current structure is 1%. This decision is not really aceptable. I am sure there must be thousands of people in mumbai who are the victim of such a rediculas decision of govt. I want to know couple of things kindly clarify. As per i know VAT is calculated only on the CONSTRUCTION COST of the property OR the agreement value of the property and the LOWEST of the two should be considered but most of the cases builder is talking about directly 5% on agreement. I am sure if they reveal the construction cost that would be much lessr than agreement value and vat liability would be much lesser.In that case what should be done, shall we listen to builder or we have the right to ask for breakups.
Secondly, I have already paid 1% vat during the pocession. If i dont pay that addition 4% vat what would the implication of this.
Kindly let me know what could be best possible to option to get out of it.
Regards,
Atanu
s k jha
06 October 2012 at 22:05
Sir,
I bought a tenament house at Vadodra, gujarat. House cost consists of Land cost 10 lacs and construction cost 15 lacs. What Will be the service ta?x
On 25% of total cost i.e. Rs 25 lacs or 33% of Construction cost i.e. Rs 15 Lacs.
Regards
S K Jha
D.G. Mohan
06 October 2012 at 20:22
In our sales transaction, suppose goods item invoice value is Rs25000-, we collect Rs24000- from the customer and give receipt for the same. Difference of Rs1000- will be treated as discount. Whether it is right as per accounting procedures?
Kamal
06 October 2012 at 14:28
There is a public charitable trust running a hospital. Its income includes voluntary contributions and hospital income. The trust has not applied for exemption u/s. 11 & 12 for the year under consideration. So, the exemption is not available for the said year.
Based on these facts, following are the queries.
1. What will be the treatment of voluntary contributions and hospital income under it act?
2. Whether hospital income be treated as business income? If yes then whether eligible for depreciation allowance? What will be the rate of tax?
3. A trust will be taxed as an AOP. What will be tax rates for above income and whether the benefit of exemption slab can be taken in this case?
Please cite relevant sections and/or cases.
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Undervaluation of property
I HAVE PURCHASED A LAND @2 LAKH RUPEESPER KATHA AT THE TIME OF REGISTRATION.HOWEVER WITHIN 500 METRES OTHERS HAVE PURCHASED LAND @6 LAKH RUPEES PER KATHA.IF ANYONE COMPLAIN SHALL I BE FINED FOR UNDERVALUATION OF PROPERTY