Decode Ballistic Reports Like a Pro. Register Now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Anonymous   21 December 2009 at 15:11

wealth tax act

if any asset transferred by individual to spouse & individual die then in whose hands clubbing of aset shall be done whether after death (if person has not made any will) the spouse has the first right or children has first right ?
if spouse has 1st right then income tax as well as wealth tax shall be paid by spouse ?
if children of individual (major ) has first right then they will pay WT + It?
which lawisapplicable in addition to wealth tax act 1957

Satyaprahash Pany   21 December 2009 at 10:10

service tax on tyre retreading

we are a franchisee engaged in tyre retreading.Whether we should pay service tax?

Anonymous   21 December 2009 at 09:36

asset transfer through sucession

Dear sir
My mother is likely to acquire two row houses through sucession of his brother since he expired on april. The query is to understand the valuation since we had paid some money as a bond in the court proceeding based on the paper value in which it was originally
purchased on 1996 thinking that my mother who is the only sister with blood relation and my uncle being unmarried when he expired and she will be acquiring this as a gift.
But now we had got a letter from the collector office in chennai stating that they will be visiting to confirm the value mentioned .
pl give your expert advice if my mother is to acquire the property through gift is it that we have to revalue it as per present value and its locality and pay the defecit amount or what we had initially paid as a bond based on the purchased document is correct pl reply

Regards
R_PVK


navratan kumar   21 December 2009 at 09:21

suspension of registeration before cancellation effect of it

What shall be the effect on the transactions which were made earlier to suspension of registeration.

murtaza   20 December 2009 at 21:54

VAT input tax Credit

One of my Clinet in gujarat is under monthly VAT Return submission.one last month he has filed Oct'09 VAT return but after some he has 3 purchase bill found from registered party by them VAT has been deducted...now its time to file Nov'09 VAT return.
my simple que. is that whom he can add this bill this year on which he has paid VAT or it not time to take credit of past month

thanks in advance

deepak K Gujrati   20 December 2009 at 08:55

evidence against assessee

Can Department use information gathered from private sources against assessee

snpathak   19 December 2009 at 10:32

required a case law

dhampur sugar mills ltd vs cit(1973) 90 itr 236,240-1(all)

Parveen Kr. Aggarwal   19 December 2009 at 01:27

Section 10(A)(i) of the Income Tax Act

Whether DHBVN (Dakshin Haryana Bijli Vitran Nigam), UHBVN (Uttari Haryana Bijli Vitran Nigam), HVPNL (Haryana Vidhyut Prasaran Nigam Limited), HPGCL (Haryana Power Generation Corporation Limited) incorporated under the Companies Act, 1956 in pursuance of Section 13 of the Haryana Electricity Reforms Act, 1997 will be "Corporations established by State Act"?

Rajesh Kumar jakka   18 December 2009 at 13:00

Regarding TDS u/s 194c

Dear Expert,

now we are accouting last year i.e.2008-09 transportation bills.

my doubt is whether TDS on such bills is to be deducted or not?

if it is to be deducted then what % it is to be deducted?

by
raj

meenakshi chauhan   18 December 2009 at 00:29

property shown in ITR

My father and his brother purchased one property on agreement to sell, and the GPA was registered in the name of my mother long back in 1985. In 1993 my father and his brother sold that property to my mother by taking the consideration amount. and they executed one agreement to sell in my mothers name in 1993. in 2006 my mother got that property freehold in her name. since then till the property got freehold my father kept on showing the property in his balance sheets. i.e. even after selling his share to my mother, in 1993, he kept on showing the property in his balance sheets, till the property got freehold in my mother's name. after getting the property freehold in my mother's name , my father stopped showing the property in his balance sheets.

what can the income tax department take action against my father, can they put some penalty on my father or mother? or what else they can do against my father or mother.

what is the worse action which can be taken by IT department?