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Master NDPS 2.0: Latest Legal Developments, Best Practices & Landmark Case Studies

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ashim mandal   27 July 2012 at 17:43

Funds stored in long term capital gain account

Sir,

I want to open a capital gain account with a bank so that i can purchase a property in next 2 years. I would like to know the taxation rules if the whole amount or part amount is utilized. I sold a property on Dec 2011 and planning to open the capital gain account this month.
I would specifically like to know if the tax on un-utlized amount would be for AY 2012-13 and tax will be based on original amount plus interests with a penulty or not. You earliest reply would help me in filing IT return. Thanking you in advance.

shailendra kumar   27 July 2012 at 12:00

Taxatuon on village land

I have sold village land in a district in UP. How can I know whether capital gain tax is due i.e. whether the land is within notified 8 km or not from Municipal boundry? What was market value of land in 1981 when base of index was 100?
Can I get answers to these querries through RTI. Whom should I address RTI application for these items?

B@75BHAIBABU   27 July 2012 at 07:32

Sections applicable and determination of cost of property

my brother has sold a landthat has been done illegally.in the sale deed he has shown that cost of property is meagre 2000 rupees but actual cost of that property was several times much more than that.thus he has evaded tax to government at the time of sale.my question is 1)how i can collect the approximate market cost of that property at the time of sale since incident has occured 10 years ago.2)what are the sections related to evasion of tax applicable in this case.

pooja dedhia   26 July 2012 at 12:41

Tds on out side payment

TdS on out side Payment

That amount send out side india to a foreign company for exhibition stall booking Charges and stall decoration charges for exhibition out side india whether tds should be deductable if yes which rate or not why in following condition : a) if Foreign company held a branch in india b) if Foreign company not held a branch in india

BHOOP SINGH   25 July 2012 at 16:35

Hvat 2003

Dear All

We are registered under HVAT 2003 as Trader. I have two queries please help me.

1. We purchased one item from a VAT dealer but due to some reason, the said item can not be sold to any one. so that item we provide to our staff as free of cost.

2. We imported some parts to repair a electronic machine. The said machine of our customer and we have to charge service charge. So we have to charge VAT from our customer or service tax only or both.

And how above both transactions are Treated under VAT R1 and which annexure.

Thanks
Bhoop Singh

pooja dedhia   25 July 2012 at 14:22

Tds for exhibition at frankfurter

a mumbai partnership firm has partcipated in the exhibition and booked stall with world book fair exhibitor for the foreign amt 3.648 EUR,
IS TDS IS REQUIRED TO DEDUCT WHILE MAKING THE PAYMENT TO FOREIGN FRANKFURT EXHIBITOR?

GREAT ROY   25 July 2012 at 14:03

Complain letter against harrazement

since last 6 months, it is found that One of our Income tax Officer and Inspector are harassing some clients asking money. Otherwise they will take the case in scrutiny
manually.Now I would like to written complain
against them.Please provide me a letter format.

C. P. CHUGH   25 July 2012 at 09:15

Partnership act and income tax act

Dear Xperts,
In the Light of the following judgements of Hon'ble Apex Court, an HUF cannot be a partner in any firm.

My question what is position where the HUF entered into partnership through Karta
before these judements.

Will it continue to be partner,
will it cease to be partner from such date,

Pls advise.

"The Supreme Court of India held (AIR-1930-PC-300 & AIR1956-SC-854) - HUF isan association of persons is "not a person" within the meaning of expression in thePartnership Act. "… it is now well settled that HUF cannot enter into contract of partnership with another person or persons."The Supreme Court of India, in another case M/s Rasiklal & Co Vs Commissioner of held that "…………. an HUF directly or indirectly cannot become a partner of a firm because the firm is an association of individuals." "…….in law, an HUF can never be a partner in partnership firm"

Ranveer   24 July 2012 at 18:57

Form 16

Sir,
If I being an employee furnish all reqd. details regarding my savings and investments (with proof) to the company in which i work and then i dont submit form 16, is that fine or any problem may occur.

hetalsangoi   24 July 2012 at 18:39

Applicability s234 b c on adv tax

to whom or which condition is fulfilled so assessee do not require to fulfill the adv tax liability at the different installment?
so section 234 B C WILL NOT ATTRACT