hitesh
24 November 2010 at 15:35
I had Agricultural land within 8 Kilometers of municipal of Amroha & there found no single buyer for that so we sold that in plots.
Whether it will amount to Conversion of Capital property under section 45(2) if Yes what will be the conversion cost taken for PGBP?
Further, Whether Agricultural land Purchased for Section 54B should be Rural Agricultural Land or should any Agricultural land (whether Rural or Urban)
And whether selling of Ageicultural Land as plot will attract any other law, or it may attract any penalty by the muncipal corporation of amroha
Crusader
22 November 2010 at 17:52
Hi,
My wife earns money being a freelancer writer and works using home and internet.
I would like to request for suggestions/ideas on what all would be taxable in such cases, and what expenditures could be non-taxable. Also what all tax saving options are available in such cases for a women.
Any suggestions on a consultant for the same in Noida would be great too, along with rough idea on the consultation charges.
Please note we need somebody who could 'suggest' on making income non-taxable based on various rules for self employed freelancers and not just tax calculation.
We will use this information to pay tax and
later file returns.
Thanks for all the help!
ajay gupta
22 November 2010 at 12:10
I am in service with a private company in india and files my income-taxes regularily.One of my close relative wants Rs. 5 lakhs loan (with or without interest) from my salary account for investing in one of the real estate company's FD which might result him a better ROI.He wants me to transfer the loan money via cheque or netbanking transfer from my salary a/c to his company bank a/c through which he would make investment.He promise me to return the money within 15 days but in theform of cash only.
Since he is a very cose relative and hard to refuse from my part, please advise whether it is legal to do so in this way and there shall not be any tax implication on my side in future OR kindly suggest some suitable method for doing this. He is not a blood relative (wife maternal uncle. Money pay back in cash is guaranteed from him.
Aurobindo Ghose
21 November 2010 at 18:42
Dear Madam/Sir,
Can anyone provide me a contact details of Excise Lawer/Consultant at Jamshedpur, Jharkhand, who can deal with all kind of Excise queries and can handle all excise formalities/documentation.
Thanks & Regards,
Surrender K Singal
20 November 2010 at 23:21
Inspite of general directions from CBEC and the concerned legal fora of the country to avoid petty avoidable litigation, field formations of Central Excise have been misusing proviso to section 11A to extend limitation of one year to five years JUST to harass even SSI units, not obliging the dictates / whims of such Divisional formations of CBEC;
What could be the escape route to save such SSI unit from the drill of (a)replying to the impugned time-barred Show Cause Notice (b) attending personal hearing (c) getting adjudication order demanding ill-thought of alleged short-levy (d) obtaining stay of recovery (e) persuing First Appeal and so on till getting obvious relief from CESTATribunal ?
NEERAJ GUPTA
20 November 2010 at 19:28
A notice u/s 143(2) was not received by the Assessee in time. when the 2nd notice sent by the department after time was received by the assessee and the assessee lodge the objection with the Assessing officer. The Assesssing officer invoke sec 281B and freeze the account of the assessee. now whether the assessing officer can invoke sec 281B as it relates to proceedings of Search and if yes than can we file the writ to High Court for stay of demand as the proceedings are invalid because of not comply with the provisions of section 143(2). please advice.
is there any circular of CBDT that if the proceedings are invalid than that should be dropped.
Anonymous
20 November 2010 at 16:50
What are the monetary limits fixed by CBDT to file IInd appeal by the Income Tax department. Please provide the relevant circular / order.
H.M.Patnaik
20 November 2010 at 00:37
Dear Sir,
After going through the reply given by Mr. Ramachandran,I am drawing your attention to a situation where share of impartible estate is registered in the name of co-owner of the building -units wherafter, the developer executes actual construction of the Apartment/ flats and in due course of time handsover possession of the dwelling unitsfor an agreed price which is a indivisible contract. In this case, it is difficult to draw a dividing line between the cost of material utilised in each unit and service charges as envisaged in the indivisible contract.
Pl. advise how treat the agreed consideration,
Anonymous
19 November 2010 at 21:39
Sir, i am confused that a builder is liable for service tax or vat?
For example:- If I am a builder who had completed a apartment having 13 flats + 5 shop. Flats are sold on installments whereas shops are sold directly by agreement to sale/sale deed?
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urgent
if a person working in govt. hospital, trust, blood bank which is govt. undertaking so is it compulsory to have PAN Card and to file tax.