shailesh pandey
26 September 2011 at 10:58
Kindly advice regarding Professional Tax whether a Director of a pvt. ltd company who has attended 65 years is exempted to pay his p.Tax .
whether a 50% disabled person is exempted from P.Tax
regards
shailesh
Anonymous
26 September 2011 at 10:55
To the experts
Please advise on what is meant by the expressions "High Sea Sale" (HSS) and "Sale in course of import" (SICI) and their respective tax implications as regards VAT and other such taxes.
Awaiting a prompt revert.
Regards
Anonymous
25 September 2011 at 22:38
Dear Tax experts
My mother is senior citizen age 73 years. She has only pension of 4000PM. I have opened a joint account with her as she is primary holder. I am second holder, she has a PAN no. I have opened a FD of 20lakhs for her and interest goes for her expenses. This is my saving of 3 years after TDS deduction from my salary. Principle money belongs to me only. I have below queries
1. Tax liability on interest of 2lakhs will come to my mother or to me?
2. Should I gift this money my mother for her living for tax saving on interest.
3. Should I show this as interest free loan to my mother.
What is best as per IT rules, because all interest is spend on my senior citizen mother.
Thx
Anonymous
24 September 2011 at 14:15
For the FY 2010-11 is there any circular by the excise department which says that 100% input credit on capital goods can be taken in the first year itself? Earlier it was that 50% was to be taken in the first year and the balance in the next year
shailesh pandey
24 September 2011 at 13:53
I had asked a question as follows
1. whether a Director who has completed his age of 60 years is exempted from P.Tax Deduction (Director Of PVT LTD CO.)
2. A staff who got injury during service is declared as 50% disability is exempted from P. Tax deduction
kindly advice with notification if any
regards
shailesh
Anonymous
24 September 2011 at 12:32
What is the limit that the service recipient of the transporter should follow while paying service tax? Is it Rs. 1500 aggregate or Rs. 750 of one consignment or higher of the two. Suppose the per consignment is below Rs. 750 but overall it is greater that Rs. 1500. Will service tax be applicable then?. And is there any violation if the service tax amount is deducted from the transporter and then paid to the goverment?
Anonymous
24 September 2011 at 11:50
I bought one property in Nasik in 2005 and sold the same i June 2011 with a profit of 15 lacs. In the meanwhile in July 2010 i had booked an under construction flat in Pune by paying 3.51 lacs. The total cost of the house is 24lacs out of which i have taken a loan of 20 lacs from HDFC. My query is:-The 15 lacs profit which i got from sale of Nasik house,as i have already purchased another house in Pune (loan of 20 lacs),can i reinvest this amount is any other thing other than property without paying capital gain tax?
Vidhya
22 September 2011 at 17:53
I am working as account in a spinning mill located at Tirupur, Tamilnadu. We purchase fiber from A of Nagpur and sell to C of Mumbai by E1 transaction. But C instructs me to deliver the goods at D of coimbatore,tamilnadu. C is not selling to D. So no E2 transaction. C is asking to deliver to D for some conversion purpose. (job work).
My question is
1. Whom should I raise invoice?
2. If i am raising invoice to C, mumbai, then whose address should endorse in LR.
3. Can deliver the goods to d of coimbatore?
4. If can what are the important documents should go with the goods from Nagpur to coimbatore.
5. Should C has to give JJ?
Anonymous
22 September 2011 at 14:28
If a company is providing Construction Services in India under 100% option i.e. ST @10.30% on the contract value, Can it take credit against excise duty paid on inputs like Steel Items etc.
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Cost of acquisition
Dear all,
Where the immovable property rural agriculture land(A) tranfered by way exchange to another rural land(B) for without consideration before 1st oct 2009 and subsequently sold .
what will the cost of acquisition in above transction ?
I found found following ref. is it correct?
Ref: Where the asset was acquired by way of exchange for another asset, the cost of .acquisition is the fair market value of that other asset as on the date of exchange.
Pl quote ref with particular section of IT act.
Thanks in advance for reply.
AK