Rajiv
19 August 2016 at 09:36
Dear Experts, We have a partnership firm in which Fixed assets of the firm (land/building/machinery) are registered in the name of the firm.Its a partnership firm with only two partners and with equal shares in profit/loss and capitals.Now, We want to divide the land and building between us by having two seperate registries of the land of the firm i.e half land will be registered in name of one partner and other half in other partners name. Kindly let us know if that would raise any capital gain for any partner or for firm.
manish
17 August 2016 at 18:06
respected sir,
i had surrendered my vat tin no.(gst/cst) before 4 years due to loss in business(not having business)
i had filed returns and close my business in 2012 today i received notice for assessment of 2012-13.
almost documents like sales & purchased invoice copies are misplaced and bank account under NPA9(closed)what i have to do?
jothilakshmi
14 August 2016 at 23:27
Dear Experts,
What is the Turn Over limit for Registration under GST Act?
Thanks in advance.
snpathak
14 August 2016 at 10:16
husband has gifted Rs 8 lacs to his wife which is exept.she acquired fdr of the same amount.please tell me interest on fdr will be taxed in the hand of his husband or not.
MOHD AZID
12 August 2016 at 17:46
We are the manufacturer of HDPE Bags. Our manufacturing unit is situated in Haryana. Our branch office for Trading only also situated in Uttar Pradesh. Entry Tax @ 5% is applicable in Uttar Pradesh w.e.f. 03.06.2016 on entry of HDPE Bags in local area. VAT @ 5% is applicable on the sale of HDPE Bags in Uttar Pradesh. We are transferring the stock against Form-F from our Haryana Manufacturing Unit to Uttar Pradesh Trading Branch and the same stock selling in Uttar Pradesh with charging of VAT @ 5%.
How to Compute Entry Tax & VAT in Uttar Pradesh?
PJBSCUFRPR
12 August 2016 at 13:01
R/sir-mam my taxable income is below the limit of Rs.250000/- so I used to submit Form 15G form for HDFC deposits for every financial year. I have never filed ITR before .but for fy 2016-17 I missed to submit Form 15 g in bank and TDS deducted from my account. So please suggest -1) can I get refund the amount deducted without filing ITR and what will be the status of next months TDS if I submit form 15g this month. 2)Deposit certificates are joint with my mother so shall we have to calculate my salary too in taxable income for tax assessment.
Vijay Kumar
11 August 2016 at 13:18
Whether maintenance granted to wife in divorce proceedings is added to income of wife for the purpose of Income Tax calculation?
s shukla shukla
10 August 2016 at 19:10
sir
1.I had filed ITR for AY 2014-15 and it has been learnt that out of TDS claimed of say about Rs 110000/- credit has been provided only to the extent of say about Rs 99000/- consequent upon which the refund claim of say about Rs 16000/- had been assessed at about Rs 7000/- which was further paid to the assessee on.
2. The issue was raised with IT Office vide a registered letter dated 08 Sep 2015. On non receipt of any response from ITO the rectification request was filed on line through IT web portal twice and in reply it was stated that this occurred due to mismatch of data in the web portal and it was advised to contact the tax deductor for correction of data.
3. The assessee approached the tax deductor vide letter dated 28 May 2016 and it has been intimated by the tax deductor that such occurrence has already been rectified and tallied but the balance refund has not yet been paid. The tax deductor has also provided the Copy of Form No 26AS downloaded from traces which was now tallying with form 16 available with the assessee.
4. The tax deductor has advised to take up the issue with GHQ, ITO.
5. Here the issue is that
(a)for getting balance refund the revised ITR was to be filed before march 2016 but the assessee was informed by the tax deductor in the month of May 2016 only,so how can I file revised return before march 2016.
(b)more over for mismatch of data of form 16 and 26 AS, is the assessee responsible for which his balance refund has being eaten up by IT depot.
(c)As per various court ruling it has been said that assessee should not suffer because of fault made by deductor and also the assessing officer should get in touch with TDS circle for any clarification.
Can some one throw a light in the issue.
Sujay
08 August 2016 at 07:44
I have 2 PAN nos. While I have been using only one for all my tax/other purposes since 8-10 years. But there were some IT returns filed under both earlier to that. Now when I applied for re-issue of PAN, IT department has sent a letter asking for justification. The other card was not surrendered as I was not using it anyway.
What can be done now?
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Tds on property sold by nri
A NRI was allotted a flat by Omex faridabad in 2005. Though as per Buyer's agreement the possession was to be given in 3 years, offer for temporary possession for getting furnishing was offered in June 2014; the actual possession has been given now in 2016. Total cost of the flat was rs 32 lakh, which is being sold in Rs 48 Lakh. Pl advise the rate and amount on which TDS will be deducted i.e it will be on RS 16 Lakh or Rs 48 Lakh.Pl advise relevant section of IT Act.
J B goel