sudarshan jain
23 June 2010 at 15:44
IS DEDUCTION U/S 80-IA ALLOWED TO CONTAINER FREIGHT STATION (CFS)
Palak Lotiya
23 June 2010 at 13:27
Hello,
I am working as a freelancer with a reputed institution and as they pay me on work done basis every month and they deduct 10 percent from my payment every month by way of professional tax. But I am not having texable income and hence would like to claim back this amount. So please direct me as to in which form should I submit my IT return and what is the due date by which I should file this return and claim refund.
Thanks and Regards
Anonymous
23 June 2010 at 13:19
Hello,
I am working as a freelancer with a reputed institution and as they pay me on work done basis every month and they deduct 10 percent from my payment every month by way of professional tax. But I am not having texable income and hence would like to claim back this amount. So please direct me as to in which form should I submit my IT return and what is the due date by which I should file this return and claim refund.
Thanks and Regards
Ram
21 June 2010 at 21:54
dear sir,
my clients are dealers in sales and service of motor cars. in the case of painting of cars they adopt a method of adding 25% Gross profit to purchases to arrive at the taxable turnover. the officer claim the method is not acceptable.
i had gone through a case long back where it was held by court that such method of adding GP to purchases in works contract was acceptable. but i have not noted the citation. any body having the same pls post it at the earliest. with that decided case i can make my case stronger
regards
ram
Anonymous
21 June 2010 at 08:16
My Father owns a flat in Greater NOIDA. He is a retired senior citizen. He is receiving rental income from that flat which he is showing in his ITR.
My father wants to transfer this flat in my name. I am a tax payer and own a flat in Mohali which I am showing as self occupied in my ITR while claiming interest on loan rebate.
Which is the best way of transfering the flat in my name i.e by way of gift or some other way?
What will be the implications if the flat is transfered in my name with regard to
- Gift Tax
-Income Tax
-Clubbing of income if my father continues to receive the rent from Greater NOIDA flat
-Capital Gain & its exemptions in case I sell any of the two flats at a later date.
BALAGANESH NADAR
20 June 2010 at 19:47
Hi Friends
After completing Bachelor of Business Law (B.B.L) I am studying LL.B 2nd year. I want to practice Income-Tax. According to u/s: 288(2)(vi) of the Income-Tax Act,1961 Can I apply for the license for practicing Income-Tax on the basis of my B.B.L (Bachelor of Business Law )
Faithfully: B.BALAGANESH,B.B.L., B.L.,
E-mail: balaganesh@lawyer.com
Self service
19 June 2010 at 21:20
I got some termination compensation and leave encashment in April 2010. Terminated on 30 March 2009.
Can i claim amount as relief under 89 ? Employeer clearly mentioned said amout as termination compensation on final settlement but on form 16 all amount shown as salary.
Please advice.
VENKATRAMAN SHRINIVAS
19 June 2010 at 15:29
While awarding compensation in a land acquisition case, the government has also granted solatium to the land owner. The land has been taken over to widen the golden quadrilateral highway and in a prestigious place. While the compensation as also the interest for the delayed payment are taxable, it has been the claim of the land owner that solatium being one representing money paid to assuage pent up feelings or wounded feelings is akin to compensation paid to accident victims and is not taxable. There is no dedcision as seen from the digest barring a Punjab & Haryana Bigh Court decision which directs that solatium is also assessable to tax. Can anay one identify or locate any other judgment in this regard. Converselky if any case deciuded by the Supreme Courrt in any civil law that cana be of assistance may also be cited.
TYhanks and regards.
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VAT applicability on Organic fertilizer
In India though VAT has been introduced still aged old Sales Tax Acts/Rules are followed by and large. The Sales Tax department have not geared up understand the rapid technological development. Still they say organic manure is only Farm Compost. But by industrial process by fermentation method they are not considering the item as Organic manure and terming it as Organic fertilizer and claiming 4% VAT from Manufacturers, who are helping Govt.of India, to some extent in reducing Chemical Fertilizers draining out foreign exchange. At the same time the Industries who manufacture Organic Manure through Industrial process (as per Tax authorities:Organic fertilizer) are not eligible for any subsidies from Central/State Government and only discouraging technological development in India with age old knowledge. At the same time Department of Biotechnology, Ministry of Agriculture, Ministry of Chemicals and Fertilizers are also not taking any action to solve the problem of frequent harassment from respective Local Sales Tax authorities demanding Sales Tax and threatening to levy penalty,interest. Is there any way.If we have to approach Tribunals and Courts the industrialists are
asked to deposit 25% or 50% before going for appeal. There is again confusion in advance ruling and appellate authorities also.Please suggest a solution.