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

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Sanjay Dhavane   08 July 2012 at 12:09

Central sales tax act, 1956

My client effected sale of Plant & M/c to foreigh buyer in F.Y.2006-07. The said foreigh buyer done payment in foreigh currency in said financial year. The said goods was physically exported out side India in F.Y.2008-09 due to other paper works. Can my client's cliam of export allowable in F.Y.2006-07? Kindly give expert comments of said transation.

Bharat Arora   07 July 2012 at 18:27

Form 16

Dear Sir guide me If one have resigned from a company in Fy 2010-11 and got his FFS & PPF in FY 2011-12 due some delay at employee end then my question are:
1. form 16 will be issued for 2011-12 or not
2. if issued under what section and provisions
3. time line for issuing the same if issued.
4. penal at employer end under IT act if any for not issuing the same
regards
Bharat Arora

GAURAV   07 July 2012 at 18:09

Collaboration or sell


Dear Sir,

I have one acre Agricultural land and want to enter into a collaboration agreement with an developer for group housing who will develop the project at his own cost. 30% flats will be mine and 70% will be of developer. Market value of my land is about one crore and Circle rate is 20 lakh.
My query is:-
1. If I sell this land to developer in one crore, I think no income tax will be payable by me being Agricultural land.
2. But if I sell the Flats of my share having amount 2 crore then that income will be taxable or not.
3. If Taxable how much tax will be payable?
4. Which option is beneficial?

Member (Account Deleted)   07 July 2012 at 16:57

Service tax

Are the practising C.A/C.S./Lawyers exemted from paying service tax?

SITARAM   07 July 2012 at 14:13

Is co-0perative society falls under body corporate for servoice tax

R/sir

We are registered under co-op societies act and do the manfuctring of Food prodcuts . As per service tax provisions BODY Corporate receiving Service of Man power supply agency is liable to pay service tax 25%

We want the meaning of BODY CORPORATE and are we falls under service tax for above

Dr G V Rao   07 July 2012 at 08:57

It filing for medicolegal experts

Sirs, D

1. Do the earnings of medicolegal experts in form of consultation fees from clients attract taxes. Do they have to file IT returns.

2. Do the experts have to register an web based online consultation work as a firm or can they be called as 'self employed'.

RAJESH CHOUDHARY   07 July 2012 at 08:45

Refund

Respected Experts,
Friends,
I need a solution / information regarding refund of income tax
Since my employer VSSC did not upload my TDS of Rs 81988 for assessment year 2009-10 in 26AS statement in time, the refund of Rs 20430/- due to me for the Assesment year 2011-12 (efiled thro CPC) was adjusted towards the interest portion of TDS for the Assesment year 2009-10. In December 2011, my employer had uploaded my TDs of Rs 81988 in 26 AS statement.
Since the return for AY 2009-10 was filed in local IT office Trivandrum, I have requested for refund through letter from local IT office at Trivandrum in January 2012. But no refund is received so far. So again I wrote to ACIT trivandrum on June 19th 2012. Now I have to file return before 31st july 2012.
A refund of Rs 23000/- for AY 2012-13 is also due on filing IT return before 31-7-2012. In this situation I want to know whether the CPC will again adjust my refund of Rs 23000/- towards interest portion of AY 2009-10 when I file return before 31-7-2012, as I did not get my refund of Rs 20430 till date

rajsh   07 July 2012 at 00:49

Joint property loan

i want to purchase a property jointly with my mother. Mother is a housewife. I am applying for a loan. Whether I have to include my mother as a co applicant in loan or not?
if yes how to show her return for past years? she has a pan card but no tax due and she has never filed her return.

Kindly advice.

rajsh   07 July 2012 at 00:44

Capital gain tax

Dear sir,

Recently we sold our ancestral agricultural land. From the sale me and my mother got the share. We are also expecting to get the letter from talathi regarding the population of the village less than 10,000 and 8kms limit. Me and my mother are planning to purchase a property [flat] jointly with our respective share. In case if we are not able to get a letter from the talathi is this ok?
If capital gain tax is applicable can we take the same flat jointly? Please advice.

Thanks.
pls reply

Naman   06 July 2012 at 22:53

Sec 2(47)

SIR,
I WANT TO KNOW THAT u/s 2(47)(i) WHAT IS THE MEANING OF RELINQUISHMENT OF THE ASSET.
WHO ARE THE PERSONS COVERED IN RELINQU.:-
A) RELATIVE
B) OTHER THAN RELATIVE
C) BOTH THE PERSONS