BRIJESH L PATEL
28 July 2016 at 20:42
Sir, Income tax demand is pending for payment since 1999 in the name of my father in raid case at our home. They have attached our home due to non payment. Pending demand is 03 lacs. My father has expired in 2004. Sir can u advise u for how much I have to pay if I opt to pay the amount. In addition Can u suggest us for a better option to pay in installments or by taking loan and pay the demand
Gurwinder
27 July 2016 at 10:43
i am working in a manufacturing unit
during financial year 2015-16 we purchase old empty plastic drums from kabarai wala of rs. 75000.00 ( 19000+19500+19000+17500)
Problem is in which account this exp should be debited
kindly help me
Gurwinder
27 July 2016 at 10:33
i am working in a auditable company,
can i show in my books payment of rs 20000.00 in cash against single bill,
or i have to show rs 19999.00
kindly help
Sudhir Lohar
27 July 2016 at 09:38
Sir,
We are a SSI unit registered with Excise since 2005 .Commenced new project in manufacturing of
intermediate products.we have procured machinery in Nov14 for the same.The commercial
production commenced in Nov'15.
Can we avail the cenvat credit in Jul'16 ?
As per Notification 21/2014 ce(nt),the time limit is applicable for Rule 4(1) and 4(7).These two rules
talk about taking credit in respect of inputs and input services.
Rule 4 (2) talks about taking credit on capital goods. The above proviso prescribing time limit for
taking credit is not inserted in rule 4(2). Therefore on capital goods the credit can be taken at any time
but on the condition that the said capital goods should be received in the factory of manufacture.
Now the capital goods are received in the factory.
Kindly suggest that can we avail the input cenvat credit in Jul'16?
Harvinder
26 July 2016 at 17:35
The Occupation certificate for the society flats was granted in March 2014. Is the property tax applicable from the OC date? MCG has billed it to all flats from 2011. Is it legal? Please clarity. Thanks a lot in advance
Vijaya
25 July 2016 at 16:26
my mother in law (83yrs) and my daughter (20yrs) have a flat on joint name. She wants to make release deed and transfer her interest to my daughter to make my daughter full owner.
Do my daughter has to pay any capital gain or tax after acquiring full property.
If so how much ?
RAJESH CHOPRA
23 July 2016 at 19:08
Dear Sir, I had purchased a property in Sept 2010 from a builder for self use and paid 90% upfront. The flat was Expected to be completed latest by March 2014. I also took a loan for the said flat and paying EMI's
The flat is not yet ready and still under construction and will take minimum 2 years more .
I would like to know can I under any provisions of law claim exemption on interest paid on my loan though the flat's possession is not yet given to me.
Thanks
RAVI SONI
21 July 2016 at 13:55
In Goods Transport Agency from 01.04.2016 an abatment has been further reduced to 60 for the specified services of transport of used household goods. I want to know what does this household goods signify and to which type of business sector this will be applicable.
Prithvi
20 July 2016 at 12:16
I am having a query about taxation of Trust not Registered with Income Tax U/s 12AA .
Such unregistered trust have Income of Rs 17 Lacs from Government for social welfare Projects & Rs 1 lac of Voluntary Contribution (not Corpus donation) . The Trust had expanded the whole of Rs. 17 Lac (even more) of the grant received for the specified purpose of welfare project & the trust have also incurred administrative expenses of Rs 1.5 lac approx. The whole operation resulted in loss for the particular financial year.
Now the query is , what will be the taxable Income of this Trust. Whole of Rs. 18 Lac , or Rs 1 lac of donation or zero Income , as trust suffered loss ?
Also please guide, if the trust is unregistered, then which ITR form (ITR 5 or ITR 7) will be use for Income Tax Return Filing.
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Tax liability on family pension due to department delays
Sir my mother is a family pensioner and due to department delays her pension was sanctioned very late which is suppose to be sanctioned in the year 2011 but it was sanctioned in 2016 due to this my mother had got an pension arrears in this financial year from Feb 2011 to may 2016 ( 11lac ) and after deducting the tax she got only 9.5 lac approximately
If the arrears are paid in times mother does not come under tax slabs ( we are in loss due to department delay)
Kindly let me know if can class a refund under any section of the income tax or under which section I can approach court of law
Kindly help how to go about this in order to get the money back which are paid as an income tax