Vijaya Bhaskar
12 April 2014 at 13:53
Dear Experts,
There is a trust which is established in the year 2012 (2012-13), until know it has not obtained registration under 12AA. However, it has raised General donation of Rs.300000. Specific fund Rs.100000 during the year 2012-13 and incurred expenses toward the objects Rs.120000. Now, (2014-15)the trustees want to obtain registration from the Income tax submitting audited financial statements and activities along with other documents.
Appreciate your valuable expertise for the following queries.
1. is the trust liable for tax, since it has not registered under 12A from Income tax?
2. if liable, on what amount and rate the trust needs to pay the tax?
3. is tax to be paid on both the donations general donation (Rs.300000)and specific donation (Rs.100000)?
4. if registration granted, will it be retrospectively?
Thanking you in advance
Gaurav Gujrati
12 April 2014 at 10:26
Dear Sir,
Whether service provided to trust by way of construction is taxable or not under service tax ?
Manohar
11 April 2014 at 19:53
We (8 members) have purchased a land in Bangalore and given it for Joint development in August 2012. The agreement is such that each one of us gets one aptmt and builder gets his share of aptmts. Now the aptmt is finished and ready for possession.
Now the builder is asking that each one of has to pay service tax of 3.1% on the current value of his own aptmt. Is this really something owner should pay? If so, what is the percentage? As we haven't paid anything to builder, does this service tax applicable in my case?
S. M. Chouhan
11 April 2014 at 17:55
A sold his long term capital asset and invested the entire amount of sale consideration before the due date of filing of income tax return but after the filing of return.
Did she will get the deduction u/s 54F for investment in new capital asset ?
Gorthi
11 April 2014 at 15:47
Dear Experts,
What is the TDS liability on employer in following situation.
Profession Charges to Consultant : 50,000
Rent paid by company to land lord towards employee Rent free accommodation : 20,000
Now company deducting TDS on 50 k @ 10% u/s 194 J. TDS @ 10% on rent paid to land lord under 194I.
Now is there any liability on company to calculate perquisite for employee and deduct TDS.
Regards
hiten
11 April 2014 at 11:36
I have sold a property in Sept 2013. I am interested in an under construction property the possession of which is in dec 2017. Would i be liable to pay capital gain tax if i pay the entire amount by Aug 2016. but the possession of which i will be getting in Dec 2017. Is the possession letter letter needed in 2016 ?
avneesh
11 April 2014 at 03:14
mr. x providing motor vehicles insurance service to customer because he is authorized agent of "ICICI LAMBORED INSURANCE COMPANY" and mr. x receiving commission frome said insurance company. Question:- the service provided by mr. x to said company under commission agent will be covered branded service or normal service avneesh.bibhu@gmail.com
avneesh
11 April 2014 at 03:04
mr.a proprietor of ABC & company is providing service under firm name. and also from same premises mr. A is providing another service under his personal name "mr.A" Question 1- only one registration required for both services or separate-separate registration required ? Question-2: what will happen when both services are provided from different-2 premises avneesh.bibhu@gmail.com
ksr prasad
10 April 2014 at 20:33
I, along with 3 more partners have entered into an agreement with a builder for development of a multi-floor residential building on our plots at Hyderabad in a panchayat layout. The agreement was signed last year and as per the agreement, each of us will get 2 flats to be handed over in the next 6 months time. There is no cash or cheque transaction between us. Are we liable for any capital gains tax or any other tax for the 2 flats we are going to own. We have no intention to sell them. Kindly clarify.
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Can i surrender my sales tax registration certificate(tin no.)
I am dealing in taxable or non taxable (exempted) goods when i did the registration. but now i am dealing in only in exempted goods(children books)but my turnover exceeds 10 lacs. can i surrender my registration certificate.then yes plz give a procedure.
(IN RAJESTHAN)