Rajeshwar
21 December 2011 at 22:20
Dear Team,
i resigned from my current job and now i want to withdraw my pf and eps that total amounts to aprox around 60000/-. please guide me that will the amount that i'll be receiving would be taxable. my joining date was 24-07-2007 and my relieving date was 18-12-2011 from my current organisation. as i don't want to transfer the amount to my new organisation's pf hence want your guidance that will it be taxed and if yes then after how many time its withdrawal would not be taxed
jagan
21 December 2011 at 18:41
1. i would want to know whether input tax credit is transferable from a seller to a buyer under TNVAT act 2006.
2.when the output product is classified under Zero rating, the seller are entitled to credit on the input taxes. If the Dept considers the output sale as Exempted sale and not as Zero rate sale, then the credit for input taxes paid on major products(steel, cement) are being denied. In such event whether such amount of input taxes can be passed on/transferred?
please provide me some assistance in this regard completely in relation to TNVAT and applicable GOs or cases if any. thank you.
Anonymous
21 December 2011 at 17:21
Sir,
I m going to file ST -3 return online we have centralized registration for more then one premises at the time of fill ST3 list of registered premises shown, wo i want to know either we file return only for Registered Office Address or all premises registered shown in ST -3
Thankx
Anonymous
21 December 2011 at 12:57
Dear Sir,
Fact of the Case:
A Director of Company has some agricultural land in his name situated within 8 Kms of municipal corporation and Director has given such agricultural land to the Company for use of commercial activity and recovered rent from the company.
After 10-11 years, such land acquired by the Company on the basis of registered agreement i.e. without registry, consideration price was taken by the Company at circle rate of agricultural land prevailing at that time.
Accordingly, Director has paid capital gains on the basis of circle rate of agricultural land.
AO is in opinion that such land is used for commercial purposes for more than 10 years, accordingly AO adopted circle rate of commercial land and calculated capital gains.
Is AO legally right or not, pls advice at the earliest.
Regards
P M Mehta
21 December 2011 at 12:26
Have received SCN for non-filing of ER7(Annual Capacity).
Is there a time limit for issue of such notice?
joydeep chatterjee
20 December 2011 at 17:23
sir,
we have sold our ground floor in kolkata and received 1500000 rs which we got in three separate DD of 500000/- each for me,my mother and my brother.now I will be investing my 500000/- for purchasing a new flat.but my mother and brother wont invest and gift it to me.Our father died in 2001 december and from that time we have inherited the property.my father purchased the property in 1988 for rs. 33,000/- only.
Now my question is how much capital gain tax my mother & brother has to pay?will it be calculated from 1988 or 2001?please tell me in detail.
Thanking you.
joydeep chatterjee
20 December 2011 at 15:04
SIR,
IN THIS DECEMBER I HAVE SOLD MY GROUND FLOOR AND RECEIVED THE SALE PROCEEDS.NOW I WANT TO UTILIZE THE WHOLE AMOUNT FOR PURCHASING A NEW FLAT.I KNOW FOR THAT PURPOSE I CAN OPEN A CAPITAL GAIN A/C AND DEPOSIT THE MONEY.BUT IF I KEEP THE AMOUNT IN MY NORMAL SAVINGS A/C BUT FOR THE PURPOSE OF BUYING THE FLAT. WILL I BE TAXED FOR CAPITAL GAIN?IF NOT FOR HOW MANY DAYS I CAN KEEP THE AMOUNT IN MY NORMAL SAVINGS A/C?IF I HAVE TO OPEN CAPITAL GAIN SAVINGS A/C,CAN I ISSUE CHEQUE TO THE DEVELOPER FROM THIS A/C? THIS IS ALSO TO INFORM YOU THAT, MY MOTHER AND BROTHER GAVE ME THEIR SALE PROCEEDS THROUGH TWO SEPARATE GIFT DEEDS.NOW THESE GIFTED AMOUNT WILL BE TAXED OR NOT?
THANK YOU
Anonymous
19 December 2011 at 17:01
wheter tds is applicable to cable operator or ditributor?
Anonymous
19 December 2011 at 13:43
guide income tax on capital arising from inhritent agricaltue property.
I do not know the agricalture land in muncipal limit or not
it is inherited agricalture land . under which sec of income tax it is exempted
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Reply experts
Dear all,
pls confirm whether Non-banking business activity (borowing & lending money) can be run by a partnership firm?
any objections of RBI??
regds
Jigar