hdshardik
19 October 2014 at 17:39
when a partner having interest @20% in the two different firms and thes two firms are under audited and they are doing purchase sale transaction to each otherive party . is it cover under relative party transaction ?
Tarik Ahmed
18 October 2014 at 11:02
Dear Sir
An assesses manufacturing both excisable and non excisable goods is availing SSI exemption. Is the assessee allows only 150 lakhs ssi limit for both excisable and non excisable goods or only Excisable item is considered for this limit.Please reply
gvvlpraju
17 October 2014 at 13:13
Dear Gentlemen,
We, M/s. Harshini Motors is the registered company under the A.P. Government Industries act and Authorized dealers of Mytvs all car services and we have been purchased tools and equipment from Tamilnadu State as CST 2% for our regular work operations. The following tools and equipment machineries are installed at our work premises. These items will be purpose of using for produce labor income and as well as the spare parts sales income and both side of our earnings will be tax payable as 14.5% VAT and 12.36% Service tax. Furthermore, without these referred items our work operations are not possible to execute. Please my query is those items are purchased for operations purpose under capital goods/fixed assets and we have request C form at our local commercial tax office but CTO of our region rejecting our request. please i humbly requesting to reply whether we are eligible for c' form or not?
S SIVASWAMI
17 October 2014 at 10:51
Dear Sir,
I am a resident Indian individual tax payer owning one self-occupied flat in Bangalore and a rented-out flat in Chennai. I am expecting capital gains of about Rs.80 lakhs from sale of the old flat in Chennai built in 1980. Please help me with the following. I shall make any reasonable fee payment if you tell me how to remit the same.
1. Since the Cost Inflation Index starts with 1981-82, how do I get fair market value of my flat in 1981-82;
2. Can I deposit Long-Term Capital Gains in NHAI or REC of Rs.50 lakhs before 31/03/2015 and the balance Rs.30 lakhs on 01/04/2015, thus getting full exemption from Capital Gains Tax.
3. Can I deposit Rs.50 lakhs capital gains in NHAI/ REC bonds, and apply the balance of Rs.30 lakhs towards purchase of a flat before July 31, 2015.
4. If the above is not permissible, am I left with only 2 options, namely:- (a) to apply the entire Rs.80 lakhs towards purchase of a flat; in this case do I have time upto 31st July 2015, the last date for filing of Income Tax return for financial year 2014-2015; or (b) to deposit the entire amount of Rs.80 lakhs in Capital Gains Accounts Scheme and purchase a flat with the entire sum within 2 years of sale of my existing flat.
Kindly respond immediately.
With high regards,
Yours sincerely,
S. Sivaswami
Anonymous
16 October 2014 at 16:20
Respected sir
ek company ki balance sheet mai truck or car balance sheet mai fixed assets mai hai
kya truck or car ko sale karnai par VAT lagaiga
Bhaskar
16 October 2014 at 08:14
Dear Sir,
Recently we have sold property which was jointly owned by me and my wife, my name was first in sale deed and my wife's name was second in sale deed. We want to park money in bank deposit before we finalize new property and invest proceed in this. Can I put entire sale proceed in bank FD on my wife's name or we need to divide it equally and put in my and wife's bank account ?
Thanks,
Bhaskar
Shobhit Saxena
14 October 2014 at 10:41
Hello Friends,
As you would be aware, in the Maharashtra Budget 2014-15, the Maharashtra Government proposed to exempt VAT on aircraft spares parts to provide a fillip to the MRO industry vide Notification no. VAT 1514/CR 46/Taxation 1, dated 11 July 2014.
So my question is what all aircrafts are included in it.?
Does it also include military aircraft ?
K R Reddy
10 October 2014 at 23:11
Dear Professional Experts,
My father sold his urban land, which will attract the tax provisions of Long term Capital gains.
The sale consideration is in huge amounts but we sated in registration documents comparatively less.
So please advise me how to reduce tax burden, without causing any problem to buyer.
And please advise me on TDS matters as well as other provisions which will help to reduce the tax liability.
SOBERDAADA
10 October 2014 at 12:06
RETIRED IN 2013 AND CAME OUT OF INDIA IN US
TO MY SON.NOW I HAD TO FILE MY IT RETURN I
CALLED AND EMAIL REQUEST TO CONCERNING BABU
TO SEND ME COPY OF FORM 16 THRU EMAIL SO THAT
I MAY FILE MY IT ON LINE BUT THEY ARE NOT
RESPONDING.WHAT I CAN DO NOW.PL EARLY ADVISE
NEEDED
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Cc whether current licbilities or secured loan
i have taken a cash credit facility from the natinalised bank against current stock and collateral security is the my small business premises . whether it is in the called as current liabilities or as a secured loan from income tax point of view . in my books i have shown as Current liabilities