Nookala Subrahmanyam
18 June 2015 at 21:29
Central Excise Audit Party has raise the issue to pay service tax on notice pay amount collected from the employees, who left the organization without notice period.
As per the terms and conditions specified in the appointment order, there is a condition to give notice for three months before leaving/resigning the job. But in a special situation the employee is decided to leave the organization without giving the notice period.
Company will collect the salary for three months as a notice pay. in view of the department is nothing but a tolerance of act hence it attracts the service tax. under section 66E(e). Is it required to pay.
Member (Account Deleted)
18 June 2015 at 17:32
Mr. A, Has an artist management service, entered with Firm B, LLP, An event orgainser in USA, to appoint Mr.Shaantanu Mukhrajee (Shaan) perform in concert in California. Mr. A had contract with Firm B that Firm B will directly Pay $3,00,000/- to Mr. Shaan & balance $50,000 to mr. A. Firm B has deducted withholding taxes on both payment. Mr. A will receive an regular contract from California in near future. What will be the tax treatment of Mr. A & Mr. Shaan in india ( Both are resident)??
what if Mr. A received total payment of $3,50,000/- less Withholding taxes & Pay to Mr. Shaan.
DILIP KUMAR MONDAL
18 June 2015 at 16:11
sir ,
i filed wrong itr form after due date , now i have received 143(1) asst.order so i can file another form as itr-4 and rectification
mihir
17 June 2015 at 18:47
Sir, I am a 20 years old last year graduation student living in maharashtra. I am a part time trader in stock and commodity market mostly trading intra day. my queries are how will be the tax structure for my profession and what expenses cane be exempted from income???
N SURYANARAYANA
16 June 2015 at 11:33
Sir, Whether under ULIP(Wealth-Plus) Policy the pre-matured withdrawal is taxable. It is a case where the policy has been taken by a person aged 62 years on 25/02/2010 for a term of 8 years and paid single premium of Rs.4 lakhs. Sum assured is Rs.5 lakhs. An amount of Rs.373672/- was received from LIC on surrender on 11/10/2014 with TDS of Rs.7472 u/s 194DA. My query is whether the entire amount is taxable under I.T.Act, 1961 for the AY 2015-16 . Please offer your valuable comments. Also state whether loss so incurred (premium paid minus maturity value) on account of investment can be allowed to be set-off under other heads of income.
Ram Avtar Gupta
13 June 2015 at 16:39
sir,
meri pahle partnership firm thi jisme maine iec code le rakha tha magar ab woh proprietor ship ho gai hai toh mujhe naya iec code lena padega ya nahi agar ha toh uska kya procedure hai
adwin
13 June 2015 at 03:09
Dear Sir,This is adwin Anil Saldanha from Kuwait with regards. Sir, i had made a Setudbandhan Policy 10 years ago i.e, on 26th May 2005, and it got matured on 26 May 2015. Unfortunately it was not credited on 26 or 27th May 2015. I was waiting till 9th June 2015 for it to get credited. Then on inquiry I was told that i need to submit TRC certificate. Sir, as we do not have to pay tax we cannot get it from here. It is only for the companies here and I am working here at the capacity of an individual. Sir, I spoke to Bangalore office too, they are not listening and asking me to produce it. If I cannot get it from here, how can I produce it. Sir, over that I am told that they are going to deduct 30.9% on the invested amount of 3 lacs (10 years ago) + 30.9% on 1.5 lakhs which is added to it. So altogether 30.9% on 4.5 lakhs. Sir, I am totally confused. I have never heard of tax on the invested amount. Sir, the funds at the establishment of this Traditional policy of Setubandhan amount was transferred from my NRE account. It has no link with resident accounts at all.
Sir, please help me to come out of this mess.
Waiting to hear from you,
Yours,
Adwin
JAGANNATH RAO PARINAM
11 June 2015 at 16:03
Dear Sir,
An indidual has interest income of say Rs 150000/= on Fixed deposits and he does not have any other income.He gives form 15 G to banker and banker does not deduct any TDS,since his interest income is less than the taxable limit of Rs 250000/=
My query is that since his income is less than Rs 5 lacs p.a and below the taxable limit of Rs 250000/= ,is it mandatory for him to file income tax return.
P.J.RAO
avneesh
09 June 2015 at 23:08
a assessee deposited amount of rs.20 Lacs in wrong accounting code.
i.e. assessee was required to deposit service tax in "WORKS CONTRACT" while he deposited in "RENT A CAB"
please tell me what is procedure to make correction in service tax challan.
NOTE:- SERVICE TAX IS DEOPISTED THROUGH NET-BANKING(ONLINE)
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Sale of land
I have sale open residential plot, gifted to me in 1975. How I will save tax.
Please suggest
Thanks & Regards
Dipak Bhatt