pareshkumar raichura
09 November 2010 at 14:11
In Our city i.e. Porbandar (Gujarat), Municipality has issued a bill of professional tax to the every tailor and shoemakers, so, we want to know that, does shoemaker and tailors are also liable to pay professional tax in Gujarat?
p k kapoor
09 November 2010 at 11:09
There is an unregistered agreement with a state govt undertaking for hiring of a building and rent is paid on monthly basis. TDS is being deducted in the current finanicial year 2010-11. However, TDS has not been deducted in the previous financial year2009-10.
My query is:
1.Are we required to pay TDS of previous year with interest.
2. If the answer to 1.is yes. Then, State Government undertaking has already filed IT return and supposed to pay Income tax as payable on total income for FY 2009-10. As such if tax is again deposited through TDS by us, this will amount to double payment of tax. Pl Clarify.
3. If tax is not deducted even now for previous financial year. How to convince IT authorities if any question is raised in future for such non deduction.
SYED MAHABOOB BASHA
08 November 2010 at 20:28
Sir,
Being a BGL Graduate with law of taxation as
one of the syllabus, Can do the taxation
practise ?
Please explain
Anonymous
06 November 2010 at 21:03
Hello Dear Experts,
I have paid my credit cards bills through cash. Sometimes I did not withdraw the money from my bank account and paid it from the money my husband would give me through household expenses. The money which my husband gives me is already a tax paid amount. Now my credit card payments are more than my withdrawal from the account. I have not withdrawn the money the same day as I will be making the payment.
Would there be any technical problems or increased tax liabiliites on me or penal laibilites for that matter. Please do clarify. My credit card statements are being reflected in my ITR.
Many thanks in advance..
Anonymous
04 November 2010 at 14:43
I would like to know how I should show the incoming coming from the FD interest from the Bank.
Currently I am showing as income from other sources. If this amount is working out to be 1,00,000, and the loss from house property is reduced to this tune.
Is it right way to show. However effectively the income tax computation is coming correct as far as the tax payable is concerned. But what is the best way of showing this income? Should I take proper care while filing my returns on this issue.
thanks and regards
santosh kumar huded
04 November 2010 at 11:11
one of my friend stays in australia and given power of attorney to his brother and his brother is starting a business in partnership with family members as its partner, whether his brother in whose favour power of attorney is executed can sign the partnership deed on his behalf and whether it holds good in the eye of law. the power of attorney executed is a registered. kindly advise its urgent.
prabhakar sb
04 November 2010 at 10:56
Dear Hon'bel Experts,
We have filed monthly returns in Karanataka VAT 100 wherein mistakes have been crept while declaring the turnover.They are:
1. Uasge of Input Tax suffered goods have not been properly classified in the returns even though a good amount of clear records are available at each level of manufactuiring point and hence, resulted in short set off of Input Tax paid against Output Tax while applying partial method of rebating provisions under KVAT Act.
2. Traded Turnover has also been clubbed with manufactured turover while calculating partial reabating of Input Tax.
3. Turnover & Input Tax of Stores & Consumables have been leftout while arriving at Net Out Tax payable as well as while claculating eligible input tax on partial rebating maethod.
The querry is:
1. Can the Assessing Authority be empowered to rectify the mistake on the basis of revised returns filed by the assessee after 3 years from the date of filing the returns under the Karnataka VAT Act, 2003.
2. Can Giridharalal Parasmal V/s. The State of Mysore - Feb 24, 1967 KLJ Vol XX 1967 - High Court of Mysore at Bangalore case will give remedy in the present VAT regime.
Gaurav Agarwal
01 November 2010 at 18:31
I run a Education management company. We help trust manage schools and help them build schools from scratch till day-to-day operation of school. For our work schools/trust pay us a annual fees. Do we need to pay service tax on such amount? Kindly quote applicable service tax rules, circular etc.
Anonymous
01 November 2010 at 16:10
we are manufacturer in readymade garment in maharashtra. we give only cloth purchased by us for stiching work outside to other persons.
person who does labour job they purchase misc items like thread, buttons, zip, less etc cost of this item is very low.
whther this typr of work is considered as job work? or it termed as work contract?
if it is work contract then we have to deduct tds? if yes at which rate and what is turnover limit for tds.
please reply
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Will there be any wealth tax or income tax if flat is sold
A flat was purchased with 100% white money in 1997 for a total of Rs 5,50,000(Cost of flat Rs 5,00,000 + Rs 50,000 as registration fees.)If the flat is sold in 2010 or 2011 at price of Rs 20,00,000 what will be the wealth tax, income tax or any other tax due to be paid on Rs 20,00,000? The seller of flat has no other taxable income and is a senior citizen.