Pooja Khare
15 June 2012 at 09:43
I am an Advocate. I am employed in a firm not stared my own practice yet whether still am i liable to pay my Profession tax? Please do let me about the same. And also what consequences will arose on non payment of the same?
pratik
14 June 2012 at 23:20
There is judgment of ITAT that depreication can't be claim on inventory which is for sale as per the section 145 & AS -2 .
The above query is related to the supermarket in which the assessee is claiming the depreication the stock which he is selling to the customer.
Thanks
bhavin
14 June 2012 at 19:17
Respected seniors & dear friends,
i have filed my ITR for the assessment year2011-2012 in which i have claimed tds refunds and i have received a refund cheque but the amount is not as per the claimed amount, the amount is less than i have claimed now in this condition what should i do? please guide me.
Sathish
14 June 2012 at 09:42
Hi,
Our company is providing service related engineering, accounting and others (Export & Domestic). As such we are registered under VAT and Service tax. This particular question pertains to service tax and TN VAT providing services.
We are providing services to our clients and raising invoice on the services provided. But while providing these services we need to buy certain "input" raw materials/components/Computer (Capital) and use them by either designing, building a prototype (proof of concept) and/or testing them (R&D) to render the service. Buying such "input" components incurs excise duty, import duty and/or VAT. Since these material are brought for the sole purpose of providing services,
we would like to know whether the duties & VAT incident on these "input" material can be taken as credit in service tax & VAT account? If so please clarify what rule/notification allows this.
Regards
Sathish
yash007
13 June 2012 at 11:04
The assessee has taken term loan from Bank and also enjoying overdraft facility with same bank, now loan is taken for business and OD also for business, then can assessee made payment of term loan from OD account? AND is the both interest deductible under IT Act 1963?
hiten
12 June 2012 at 13:59
Dear All,
Please guide if i am selling jewellery given by my grandfather, for buying an property. If i give the sale proceeds to my parents for bying the property what will be the tax effect on me and my parents?
Thanking you all in anticipation.
Please assist.
bhavin
11 June 2012 at 23:25
Income tax-revenue had filed an appeal in high court and and the respondent dint know the date of hearing and hence couldnt attend. Later it was found that the status shows disposed and disp. type - Dismissed.
I want to know what does this mean and
what can the respondent do, to know, whether the case is still in court or has been completed?
thank you in advance.
Unknown Person
10 June 2012 at 17:44
IN my last last organization, my Full TDS deducted for 2011-2012. I left that organization. When I ask to give form 16, they told me that they can not give form 16, they will give me CA number, to contact him and collect form 16 from there. Please guide me who will give form 16, what legal action I will take against them.
Charudutta R. Mhalgi
08 June 2012 at 12:55
Respected Sir,
My query is regarding qualifying amount of aggregate donation under Section 8o G.Whcih amounts to be deducted from Gross salary--Exemption u/s10,Deduction u/s16 and deduction under VI-A.
Whether all above exemption and deduction to be considered or which is to be considered out of three for qualifying amount.
Kindly advice for the same.
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Capital gains tax
My Mother is owner of freehold property in Delhi she has entered into an agreement with a builder to construct 4 floors in which 3 floors will be owned by her and 1st floor will be owned by the builder.She will also receive 40 lacs. The plot was purchased in 1971. However as per compromise agreement reached in court with her 3 children the 3 floors will be gifted to her 3 children after the construction. The approx value of three flats is 3 crores.
1. Can she transfer the owenership of the flats by gifting to the 3 children with in six months from date of completion of the building.What will be the implecations from the Capital Gains tax point of view?
2. Will she have to pay Capital gain tax on 40 lakh or on 3crore 40 lakhs?
3. Will she have to wait for three years for transfering the ownership of the flats to the 3 children so that capital gains tax on only Rs 40 lacs have to be paid