Kshitij Saxena
02 February 2016 at 13:32
I have brought a property after selling the my old house. Now i have paid registration charges to the tune of Rs.5 lacs. My query is that whether such registry charges can be treated as investment amount in new property as per section 54 of IT Act keeping in mind that the same is available for deduction under section 80 C upto the tune of Rs.1.5 lacs.
Kindly provide references of case or sections if any??
C.J.Sriram
02 February 2016 at 12:23
A service provider-consultant- crosses the threshold limit of 10 lacs for the first time and register and obtain Service tax registration. He also collects and pay Service tax in that 1st year and comply with filing ST3 return.
During the 2nd year, he earns only 6 lacs from providing Service.
Should he continue to charge and collect service tax, even though he is aware that in the 2nd year he is not going to cross 10 lacs.
Query:1. Is he bound to collect tax in the second year , where he has not earned 10lacs. What should he do with the S.Tax, if billed and collected, but not liable, since his earning is below 10 lacs.
2.Is he supposed to file S.Tax returns in ST3 during 2nd year also.
3. Is it that he should continue to collect and pay S.Tax once he registers initially, whether he crosses 10 lacs or not in subsequent years-
Kindly give your expert views.
JAYESH
01 February 2016 at 20:09
I WANT TO KNOW ABOUT THE REQUIREMENT OF LEGAL DOCUMENTS FOR SCHOOL NEWSPAPERS IN INDIA,WHAT ARE THE REQUIREMENTS TO START (I.E-TAXATION ON ADVERTISINGS,CERTIFICATES,REGISTRATIONS ETC.) PLS FEEL FREE FOR ANY ADVICE REGARDING THIS BUISNESS..THANKS IN ADVANCE
Praveen Rana
01 February 2016 at 18:23
Hi
I have some questions about practice of an advocate in taxation:-
1) Can an advocate hold his certificate of enrollment or practice if he practices only in taxation field? i.e. what if an advocate don't practices in court and only practices in tax?
2) Can he work in a firm/company as a tax associates?
3) Is it necessary to register with Bar Association for an advocate who practice in tax only?
4) If yes then what are the benefits of Bar Association?
pratyu
01 February 2016 at 11:01
sir
my son sent money to my savings account in india from usa for our personal use.i made fixed deposit by saving money sent to me in my name for rs 2000000 and have filed tax return through bank .my question is will my son be charged income tax on this amount as well,he is paying tax in usa and is sending part of his earnings home,is my son liable for income tax on savings done by us or on the interest we receive on it.is this included as his income and should he file returns as well.please kindly inform.
Sachin Gole
30 January 2016 at 22:18
Respected experts,
My car was stolen in May 2015, the insurance claim was settled after 8 months of mental torture and harrasment.
My car was 14 months old when it was stolen, I had renewed the policy after 12 months and the idv was 80% of initial ex showroom price.
I had done some partial payment of my car loan hence idv was more than my loan outstanding amount with the bank.
The insurance company had a weird requirement of receving loan closure documents before the claim could be settled which bank was not comfortable with.
I had no choice but to close the loan by arranging for the loan outstanding amount and then finally received the whole of claim settlement amount in my account.
Could you please help me understand if this claim settlement amount of idv would be taxable as per IT laws.
Logically the idv of a car can never be more than the depreciation value of the car. but wanted some expert suggestions on this matter.
Please feel free to reach me on sachin0103@gmail.com in case you need additional details pertaining to this.
Appreciate your guidance on this issue.
Regards,
Sachin Gole.
santosh
30 January 2016 at 20:58
One of My Client has a Commissin from LIC. He has LIC Commission Certificate for A.Y.-2008-09. The Pan No. is not Mentioned in Lic Commission certificate. He submitted I.T. Return A.Y.-2008-09 mannually and claim for Return 17000/-. But till now he did not got Refund. Please answer anybody how refund can receive for A.Y.-2008-09.
Mrunmai Deshpande
30 January 2016 at 18:16
Sir – After putting 1.5 lacs in my PPF Account if I put some amount in my son’s PPF A/c will my son get tax exemption benefit? My son is also employed in a multinational company in India.
bhaskararao donepudi
29 January 2016 at 13:26
sir
A,B, & C sold an agricultural land with in municipality limits, in 2007,on GPA basis to X & Y amount of Rs 15.00lakhs(full consideration received), in 2010 the registration regularized by them with cost 15.00lakhs, but stamp duty paid on of Rs 35.00lakhs, because of value of property hiked by State Govt, but ITO objection its not Agricultural land, capital gain tax imposed on 35.00 lakhs,should liable in this and its capital asset, but still today cultivation is running on this land, so I request A,B, & c has tax liability or not,
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Rajasthan vat e-1 sale and c from
Honorable Sir/Madam.
One of my client is registered under Rajasthan Vat and import goods from Haryana and sold it to on E-1 to a client of UP. The commodity is vat exempt in Rajasthan.
My query is
Can my client issue “C” form to supplier of goods?
Is “C” form is mandatory in favor of my client from client from UP.
With regards
Mukesh Khandelwal
9828242065