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Pardeep jagdeva   17 years ago

Writ petition

I am filling a writ to recover the award amount of the informer(which is 10% of the total tax assesed by the tax department from the total recovery)

TS Bhatia   17 years ago

SERVICE TAX

what are services for which service tax is to be paid ?

Senguttuvan K   17 years ago

FBT - Is it required to be paid when not claimed for Income

FBT is not a tax on Income

FBT is a tax on expenses

Is FBT applicable when some one is not claiming those expenses at all?

Two scenarios:

01. When a company's total income is exempted, the company can prepare memo of Income by disallowing the expenses subject to FBT and arrive at profit / loss. Suich profit is escalated to the extent of expenses subject to FBT. However, the profit is not taxable, since exempted.

02. When a company's Carry Forward Loss is huge and by not claming expenses subject to FBT the profit can be arrived.

Since this action doesn't have any impact on Book Profit, the status of MAT liability may not undergo any alteration.

Please clarify

Yogesh Sachdeva   17 years ago

Service Tax

Dear Sir(s),

Director's remuneration is paid in the form of :-

a) Sitting Fee

b) Fixed monthly Remuneration, and

b) Commission.

The directors do not raise any bill for such remuneration and the remuneration is calculated by the company under permissible limits given as per company law. Is there any service tax liability on the above under the Management or Business Consultants Services / Business Auxiliary Services?

Is the treatment same in case of Nominee / Independent Directors?

Ram   17 years ago

query regading imposition of penalty under VAT act

Dear sirs,
under the karnataka VAT Act a single day delay in filing of monthly retuns directs the VAT officers to levy 10% of penalty on tax amount by using the word "Shall".

we have a business in udupi and our monthly VAT tax for July 08 was of Rs 556000/-. we usually file the returns on 20th day of every month. on aug 08 ie the last date for filing vat retuns for July 08 there was a nationwide strike called by left parties. so we have filed returns on 21st day of aug 08. now after a month we have received a notice proposing penalty of 10% ie Rs 55600/- with seven days time to Show cause.

officer claims to have acted under law. is there any judgement/ cases were i can claim that penalty can be waived during unavoidable circumstances, even though the Act is strict about ts levy?.

Please reply at the earliest.

R.Rajendran   17 years ago

TAX FOR POWER OF ATTORNEY

Dear Sir,
We are 4 sons .Our parents are not alive.All the heirs of our family (4 sons) have decided to sell the house belonging to our mother by writing Power of Attorney in my name and then share the money.The house is likely to be sold for Rs. 15 lakhs.Each son will get a share of Rs.3.75 lakhs.Please reply my following queries:
1.Simply because POA is written in my name,
I am afraid I may be subjected to tax for Rs.15 lakhs. Will I be subjected to tax for Rs.15 lakhs?
2.What should I do so that I pay tax only for my share of money?

Ananjan Mukherjee   17 years ago

Income tax on selling shares

If I sell off some shares that I own, how is that income going to be treated? How will I be taxed?

Thank you,
Ananjan Mukherjee

Ananjan Mukherjee   17 years ago

Income of dependant spouse

If my wife is a housewife but has some income through investment interests, will I be taxed for that income? If I gift my wife some money which she invests on her name, would the interest earned be considered my income?

Thank you,
Ananjan Mukherjee

Anil Goel   17 years ago

e-payment of taxes

dear friends
as u all know the ministry of finance has issued a nitification regarding mandatory e-payment of taxes. but most of the assesses are unaware of it & they deposit their income tax in the banks as they r doing in the past. i want to know that the persons who deposit thier income tax in the banks directly are entitled for the claim of payment or not

thanks

Anil Goel
Punjab