suren
12 May 2009 at 22:33
Dear All,
Can u guide me to a query :-
HUF owns a Flat / House which is given on RENT to the Karta of the HUF.
What will be the treatment of RENT in the Hand of HUF as well Karta who pays the RENT ?
Presuming, Karta is in Service, can he claim RENT paid by him to his own HUF for calculating Salary Income.
What precautions / documantations will be required ?
Thanks & Regards
Debashis Saha
12 May 2009 at 19:00
Mr X , owner of several residential House Properties, transfered one of his house property to a Private Trust,( Mr X is the settler, but not a direct beneficiary)) created for the benefit of his family membersm, by a Regitered Deed of transfer, with a stipulation to enjoy the income, if any, arising from the said property, at his choice. Whether a sebsequent sale of the said property by the trust to any 3rd party will give rise to a Capital Gain and if so in whose hand the Gain should be included and taxable
SREEKUMAR
10 May 2009 at 22:24
I had booked a flat in 2006 with a reputed builder. Towards this an agreement for construction and agreement for sell was executed. The payments were made as per the schedule of the builder. The UDS was registered in my Name while 85% of the construction was completed. Now the builder is refusing to handover the key as i have refused to pay service tax & works contract tax of totalling 4.04% of the construction cost.
Pls inform whether ST & WCT is payable by me as Allottee? If not, how to get the key as I have paid entire consideration of the flat
sarbjit singh chaudhary
08 May 2009 at 19:16
i am running a restaurant mostly cash purchases are made of milk, vegetables and fish etc.
the ito has made ad hoc addition of 3 lacs on account of cash purchases without vouchers
G.P is shown at 44% and N.P. @ 4.5%
please give some case references
Goapl Goel
08 May 2009 at 11:53
I have the following queries in respect of Sec 80 IA and Sec 50 of the Income Tax Act,1961:
We are running the construction business as well as the Internet business(ISP). We have certain assets like Optical Fiber (OFC) cable , Plant & mach., Building etc in the ISP on which we are claiming the depreciation u/s 32 of the Income Tax Act, now my queries are as under:
1. Suppose we sell the OFC to the third party, whether we have to calculate the capital Gain u/s 50 if we want to claim the 80IA deduction or I have to just reduce the sale consideration of the OFC from the block . I had clubbed the OFC in P&M block and there are various assets and value are available in the block. Pl provide your valuable opinion alongwith the case laws if any.
2. The other remaining assets of the ISP division are being transferred in a scheme of demerger to the resulting co during the year, now can I claim the deduction u/s 80IA upto the period for which undertaking is in my ownership or not. Pl clarify.
V V SATYANARAYANA
07 May 2009 at 16:23
Sirs,
We are doing processing activity in which we process the material and give it back to the owner.As per the agreement the 'title' and 'ownership' of the material given to us for processing is always with the client. This does not attract VAT registration.
Now we would like to undertake trading activity in Bangalore, Kolkata & Delhi.
For this purpose do we have to take registration both under VAT & CST or only VAT registration is required.
Please clarify
yogesh
07 May 2009 at 12:57
against long term capital gain on sale of house i have to reinvest in purchase of new house.i would like to know which of the items can be said to comprise cost of purchase of a new house.- stamp duty paid, society life time maintanance deposit, electric connection charges, legal charges.
chinmay Agarwal
05 May 2009 at 15:02
sir can you please cite me any case law of supreme court/High court which gives clarification on classification of Water storage tanks made of plastic/PCV water Tanks/Water syntax for the purpose of imposing VAT Liabilty on the particular Commodity. and also the rate of Vat which shall be applicable on the above mentioned commodity.
Anil Goel
05 May 2009 at 14:23
hello experts
as we all know the deptt. has changed the rules relating to the TDS.
my Q: is ....How a person can deposit TDS for the month of April 09 F.Y. 09-10, as the new forms are not available on dept. site or NSDL's site. Payment of TDS through online is governing by NSDL & the co's site shows the older forms., If an assessee deposite the tax late due to non availability of new forms whether he will be liable to pay interest @ 1% P.M.
thanx
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LTA
Hi. In or around February end 2009, there was a judgment passed by the Supreme Court that there is no need of proof to claim LTA. As regards this, on informing my company to give me full LTA without any proof being required, it was informed to me that the same has not been notified, as such the same is not applicable. I want to know whether the said judgment has been notified or is there any other way I can claim full LTA without showing proof? Is the said judgment valid or not?
Please help!!!