Anonymous
27 January 2012 at 19:33
Dear Experts,
Please solve my issue -
One company is situated at USA and one at China both are group Companies. Indian Company, which is also a group company, will import materials at Mumbai Warehouse from USA as well as China. As per Custom Act, these is a relative party transaction u/s 2(2).
For Valuation purpose - whether in such case registration under SVB (special valuation branch) under Custom Act is required or not?? The registration is compulsory or optional??
Please response at the earliest.
Thanks in advance.
Neha
Ramesh
27 January 2012 at 13:09
Note: This query is posted at www.Lawyersclubindia.com and www.CAclubindia.com.
lina abood
26 January 2012 at 22:27
DEAR EXPERTS,
I HAD ALREADY POSTED MY ENQUIRY 2 DAYS BACK ABOUT THE PROPERTY I HAD SOLD AND ALL OF YOU AGREE THAT I HAVE TO PAY CAPITAL GAIN.I DONT MIND TO PAY CAPITAL GAIN TAX .BUT WHO WILL DO THE EVALUATION OF MY PROPERTY, BECAUSE IF INCOME TAX MAN DEPEND ON THE FIGURE WHICH IT SHOW ON THE BUYING DEED WHICH IT TOOK PLACE ON DEC/1990 THEN I WILL IN DEEP LOSS BECAUSE THAT TIME WHEN I BOUGHT IT I HAD PAID
RS.6 LACS BUT IT WILL COME RS 9000 ONLY WHICH IT IS TOTALY UNFAIR
ONE MORE THING I GOT IT SOLD FOR AROUND 63 LACS,AND I AM ALREADY HOLDING 2 PROPERTY HERE.
PLEASE SIR GIVE ME YOUR ADVICE BECAUSE I AM REALLY IN PAIN
THANKYOU ALL FOR YOUR MUCH NEEDED ADVICE
Anonymous
26 January 2012 at 20:04
Under IPC , the advise to do something has been received , thereafter an advise to do something under Income Tax Act is received which is opposite to IPC 's advise received earlier. Both the advises are not time- bound ,can be given at the same time. Which advise shall be applicable , prime ?
hemant t gawale
26 January 2012 at 11:08
ENHANCED COMPENSTION RECED F. Y. 2000-01 FROM SESSION COURT. MATTER DISPUTED TILL
F Y 2010-11 BY SUPREME COURT.
THE REASSESSEMENT WAS MADE AFTER SUPREME COURTS DECISION
WHETHER INTEREST U/S 234 b & 234 c WAS LEVIED BY ITO HWETHER IT IS JUSTFIABLE
IS THERE ANY CASE LAW FOR WAIVER OF INTEREST
HEMANT
lina abood
26 January 2012 at 08:15
DEAR EXPERTS,
NRI HAS BOUGHT SHARE IN INDIA WHEN HIS STATUS WAS ORDNERY RESIDENT (LONG TERM INVESTMENT),NOW HE HAS DECIDED TO SELL THIS SHARE,SO THE INQUIRY ARE:
1- DOSE HE HAS TO PAY TAX ON THE GAIN TO INDIAN GOVERMENT?HOW MUCH?
2-CAN HE DEPOSIT THE ENTIRE AMOUNT IN HIS NRI ACCOUNT?
3-CAN HE TRANSFER THAT MONEY TO ANOTHER COUNTRY WERE HE IS WORKING NOW (USA)?
4-IN CASE HE CAN TRANFER THE MONEY TO USA IS THIS MONEY GOING TO BE UNDER TAX BY USA GOVERMENT
WAITING FOR YOUR REPLY
THANK YOU ALL
lina abood
26 January 2012 at 08:00
DEAR EXPERTS,
CAN FATHER WHO IS LIVING IN INDIA TRANFER TO HIS SON WHO IS LIVING IN USA (NRI) GIFT?
IN CASE THE REPLY IS YES ,THEN DOSE THE SON HAS TO PAY TAX ON THIS AMOUNT TO USA GOVERMENT ?
WAITING FOR YOUR ADVICE
TAHNK YOU ALL
Anonymous
25 January 2012 at 21:14
My Question is, can a working lady borrow money from her husband for
buying a home without interest or at 0.5% or less? Is any limit of
time for repayment? please tell what formalities are required to take
loan from husband.
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Dep. & other exp under i.t act 1961
dear sir,
i have a query regarding income tax, whether a partner can use own car for the business of firm & claim dep. & other exp. relating to that car.
if answer is an affirmative please ref. any provision/circular/ notice or case law.
thanks