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)
Mayank Arora
08 June 2015 at 17:03
Hello Experts,
I am a freelance teacher. A college approached me through a consultant and I joined there. The college pays the consultant and then the consultant pays me. When the time came to pay the money, the consultant insisted I take cash payment.
I was promised a payout of Rs 2000 per class NET on an SMS from him. I assumed this to be the amount after deducting TDS. Now the consultant is saying that he runs this business on the side and that he doesn't have an actual firm, so he will give me 2000 per class in cash. I declined saying that I want the money officially after tax deduction. So basically, Rs 2000 after deducting 10% TDS. He is not ready to give the increased amount either (Rs 2,222- so that I can pay the tax if he can't). Now the question is-
1) I have detailed whatsapp chats with him where he says that I should take money in cash since everyone else does it that way and that I'd be getting Rs 2000 only and that I don't have any other option.
2) He says that by "NET", he meant that college has deducted his TDS. Obviously, if tax is not deposited in MY account, then its not net.
3) This person is working in a reputed company and is running a business on the side without any business entity. Clearly, he has evaded a lot of taxes. College pays him money in his savings account and he pays everyone by cash. He has accepted this multiple times on whatsapp.
What should I do now? How can I complaint against this?
jiteshmadeka
07 June 2015 at 14:33
I am interested in setting up a SSI unit to buy old capacitor for induction furnace and repair them and sell in the open market what would my excise duty limit foe exemption?
Dalip Singh
06 June 2015 at 16:40
I filed an arbitration case before ICA on 29.05.2015 and deposited registration fee Rs.11236/- (10000 + 1236) i.e. @ 12.36% p.a.
ICA raised a invoice for Rs.164/- as a shortfall due to raise of service tax amount @ 14% w.e.f. 1.6.2015. Please clarify.
Deepak Kumar
05 June 2015 at 19:43
Partnership business which is running from 1988 is sold on "as is condition".
We would like to know the Income tax applicable on this sale transaction?
If it is sold on slump basis will there be any change on income tax applicability?
How can we reduce the income tax?
sachin dubey
05 June 2015 at 11:01
As per Sec 250, CIT can admit additional evidence only after providing an evidence to the A.O to cross examine and verify such additional evidence. However, Rule 46A is not applicable for clarificatory materials i.e secondary evidence produced to support preliminary evidence. So what is the criteria for determining whether evidence submitted to CIT(A) is additional evidence or clarificatory material.
Madhavi Mazumdar
04 June 2015 at 15:35
Sirs/Madams,
We had been billing the Canon All In One Printers in Jammu @ 5% VAT. Offlate we have an updation that a new notification of charging VAT @13.5% has been levied upon all Multifunctional devices on and from 01.04.2015. We are the Regional Distributors for Canon Printers in Jammu and we do a CST Purchase from Canon with the Description mentioned as CANON AIP PRINTERS. However, we are confused as to what should be our current stand for the billing of CANON AIO Printers. Should we bill it at 5% or 13.5%. Our Local consultant is advising us to bill @5% as it is mentioned in our Canon Purchase Bill as Printer which falls under 5% Category. But when we check the specification of the said printer from the Canon Site it says Printer, Scanner and Copier. As per the New SRO Notification the Scanners and Copiers should be billed @ 13.5%. What should be our stand??????? Please advise.... Also suggest some good consultant who can be appointed by us for taking care of our Jammu Branch Statuotory requirements.....
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Iec
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