Mukesh Khandelwal
09 June 2014 at 13:11
One of my Assessee’s income tax cases for assessment year 2012-2013 is under consideration. There was two expenditure debited by him in income and expenditure account in accounting year 2011-2012, Service tax demand for financial year 2009-10 for Rs. 132520/- Interest on service tax for financial year 2010-11 for Rs. 55642/-AO raised oral information to us that as the accounting system of Assessee was mercantile system. So why payment for previous year from the period under consideration, should be disallow under section 40 of income tax act. Please guide me what is the provision of section 40 or this type of govt. statutory tax liabilities due to service tax or other revenue department audit or scrutiny proceeding.
Thanks
Mukesh Khandelwal
mukesh_khandel@yahoo.com
9828242065
Anonymous
08 June 2014 at 16:45
The above sec of customs act provides responsibility of issuing an assessment done in contrary to the declaration. What's if even after the importer's demands for speaking order giving ref to the sec 17 (5) of customs act 1962, the department doesn't issue.
M.A.Khan
06 June 2014 at 15:59
Dear sir
My wife got share in his father's property. This property was owned by my wife grand father since 1950. Now my wife decided to sell that property. Now what tax she has to pay. Is any capital gain will be charged on it?
Other question is long term capital gain tax will be charged @10% if no indexation cost is less from the selling cost of property is it true? And if so then actual property buying cost will be deducted or not please advise us
nikhar
06 June 2014 at 11:59
what is the last date of submission of up vat form 38 in UP vat department
venkatesh Rao
06 June 2014 at 09:07
In a problem of my daughter,s B.Com. exam, under the head-income from other sources following detail appeared.
VALUE OF GOLD CHAIN FOUND ON STREET Rs.30000/=
How to compute it? Is it liable to be accounted for and taxable? Pl. guide. Exams tomorrow.
pooja dedhia
05 June 2014 at 18:39
brand renovating and brand creator , under service tax where they falls and under which registration of category is applicable ?
Samik Kr.Chaudhuri
04 June 2014 at 16:44
Sir
We are manufacturing Co.We purchased materials from Bangaladesh. My question is can we take Cenvat credit along with cess of CVD and Import Duty? Plz. answer me immediately.
Samik
Surendra
04 June 2014 at 11:29
Dear Sir,
Greetings for the day !!!
We feel privileged to have your views here in this forum. I have a query regarding applicability of Service Tax and Vat on Flats.
Recently I booked a flat in Bangalore. The Company has provided flats on RIGHT TO OCCUPANCY basis and there will not be any sale deed for the said flats. We can implied from this, that whatever amount I have given to the Company (i.e. Consideration to occupy that flat) has been treated as deposit with the Company and at any point of time, when I may surrender my flat (RIGHT TO OCCUPANCY) to the Company and can get my money (consideration paid to occupy flat) back .
The Company did not charge Service Tax and VAT on such flats earlier due to their contention that it is merely transfer of RIGHT TO OCCUPANCY. But now the Company is asking for Service Tax and VAT on the said flat.
My queries are as follows :
1) What is the difference in the SALE OF FLATS and RIGHT TO OCCUPANCY only?
2) Whether Service Tax and VAT is applicable on RIGHT TO OCCUPANCY of any Flat? (since renting of dwelling units does not attract service tax, as well as the ownership in the flats has also not been transferred in my name, it remains with the Company and I enjoy only right to occupancy of the flat).
Thanks & Regards
Mukesh Khandelwal
03 June 2014 at 19:34
One of my Assessee’s income tax cases for assessment year 2012-2013 is under consideration. There was two expenditure debited by him in income and expenditure account in accounting year 2011-2012, Service tax demand for financial year 2009-10 for Rs. 132520/- Interest on service tax for financial year 2010-11 for Rs. 55642/-AO raised oral information to us that as the accounting system of Assessee was mercantile system. So why payment for previous year from the period under consideration, should be disallow under section 40 of income tax act. Please guide me what is the provision of section 40 or this type of govt. statutory tax liabilities due to service tax or other revenue department audit or scrutiny proceeding.
Thanks
Mukesh Khandelwal
mukesh_khandel@yahoo.com
9828242065
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Taxation after sale of flat
I bought a flat 10 years back with my money and my father money. 3 months back I made settlement deed with my parents and my brother. Now we sold the property and received money as per the settlement. What are the income tax to be paid by me and my parents and sister.
Thank you,