SUBHASH SHARMA
01 April 2014 at 18:11
WE HAVE UNIT AT UTTAR PRADESH IN THE NAME OF S.R.ENTERPRISES ENGAGED IN WORKS CONTRACT.
WE GOT ONE CIVIL CONTRACT (WITH MATERIAL & LABOUR) FROM PSS LTD FROM HRYANA FOR RS. 1,00,00000 (ONE CRORE ) (WE ARE NOT REGISTERED WITH HARYANA VAT/SERVICE TAX, WE DON’T HAVE ANY BRANCH IN HARYANA)
WE HAVE PURCHASED MATERIAL FROM UP FOR RS. 17,10,000 INPUT ON PURCHASE IS AVAILABLE RS. 2,10,000/-
WE RAISED ONE R.A. BILL TO PSS LTD FOR RS. 10,00,000/-
PSS LTD DEDUCTED WCT HARYANA AND TDS OF RS. 60,000 AND MADE THE BALANCE PMT OF RS. 9,40,000/-
WHAT IS OUR TAX LIABLITY OF SERVICE TAX AND UPVAT IS INPUT ON PURCHASE IS ALLOWED (WE HAVE NOT ADOPTED COMPOSIT SCHEME)
PLEASE ADVISE.
YAGNESH HASMUKH DAVE
01 April 2014 at 13:40
I HAVE SOLD LAND IN THE YR 2005 AND RECVD SALE CONSIDERATION OF RS 50 LAC IN 2005 AND 28% OF BUILD UP AREA IN KIND CONSIDERATION BEING SHOPS WHICH ARE RECVD BY ME DULY CONSTRUCTED BY BUILDERS IN THE YR 2010. I HAVE PAID LT CAPITAL GAIN OF CONSIDERATION RS 50 LAC IN 2005 AND VALUE OF SHOPS RECVD IN 2010 ON WHICH WHETHER I AM LIABLE TO CAPITAL GAIN TAX IN THE YR POSSESSION RECVD IN 2010 OR IN THE YEAR 2005 DATE OF AGREEMENT PL EXPLAIN
YAGNESH HASMUKH DAVE
01 April 2014 at 13:26
I AM HAVING RESIDENTIAL CHAWL,SELF OCCUPIED BLDG, AND ALSO 2 RESIDENTIAL FLATS THE RESIDENTIAL CHAWL AND THE FLATS ARE ON RENTED DURING THE AY-2012/13 I HAVE SOLD LAND AND OUT OF SALE PROCEEDS OF LAND I HAVE PURCHASED ANOTHER RESIDENTAIL FLAT FOR RS 80,00,000/- WHETHER THE SAID FLAT PURCHASED BY ME CAN I ENTITLED FOR DEDUCTION U/S 54F BEING INVESTMENT IN NEW RESIDENTIAL FLAT EVETHOUGH I AM ALREADY HAVING 2 RESIDENTAIL FLATS ON RENTED OUT PL EXPLAIN
Keerthi M
01 April 2014 at 11:09
Hi Sir / Madam
I have a query regarding a lease of land to buid a School.
A international school has approached us for leasing a land to build a international school for a period of 30 years.
will there be any legal problems at the end of the lease period of 30 years, as it is a school.
please assist me in the same
SHEKHAR KUAMR
31 March 2014 at 20:09
Can a commercial tax officer under gujarat vat act, pass assessment order at its own, keeping aside the facts and figure of the case on the last day of the date for completion of assessment, without considering the facts and statements given by the party.
Amit Dabral
30 March 2014 at 17:46
Hello Sir,
I applied for PAN card 4 years back, but did not receive the same, after that i applied 3 times, but did not receive either.
I don't have a single PAN card out of those 4, what should I do? I never deposited Tax on any PAN. Due to not having any PAN card currently my employer deducts double amount of Tax from my salary.
Please suggest, will I have to pay penalty of 10000/-. or there is any other way to get out of this problem, I never deposited tax on any PAN.
JAYANTA ROUTH
30 March 2014 at 13:02
SIR,
I AM GOING TO PURCHASE A RESIDENTIAL DUPLEX FROM A DEVELOPER COMPANY (PVT LTD) IN WEST BENGAL THEY ARE PLANING TO SELL THE DUPLEX AS PER FOLLOWING TERMS AND CONDITIONS :-
25% CONSIDERATION FOR LAND VALUE, LAND WILL BE REGISTERED IN MY NAME.
25% CONSIDERATION FOR LAND FILLING AND COMMON INFRASTRUCTURE, PAYMENT MUST BE CLEARED BEFORE REGISTRATION OF LAND
50% CONSIDERATION FOR CONSTRUCTION OF DUPLEX AFTER REGISTRATION, ALL THE MUNICIPAL PERMISSION ETC WILL BE IN MY NAME.
MY QUESTION IS :
A) IS SERVICE TAX APPLICABLE ON TOTAL 100% CONSIDERATION ?
B) IS WORKS CONTRACT TAX / VAT TAX IS
APPLICABLE SINCE AGREEMENT SHOWING CONSIDERATION FOR CONSTRUCTION SEPARATE ?
C) IF VAT / WORKS CONTRACT TAX APPLICABLE THEN COMPANY NEED TO PAY SERVICE TAX ON THAT AMOUNT ALSO ?
Rupesh
28 March 2014 at 20:33
Hi,
My mother is housewife and having Fixed Deposit of Rs 10,000,00 in bank; interest rate is 9% p.a.
Pls let me know how much income tax she has to pay on this FD interest and how to avoid this tax?
niky......
28 March 2014 at 18:20
Loan given to parents need to be signed in front of notary or i can have it on a 100 rs stamp paper and that can suffice?
Also if have already given an amount say on 1st march and i havent created an agreement till later date, can i make an agreement say on 15th march and then mention in that agreement tat i had given a cheque on x amount on 1st march?
Or is it necessary to have a cheque dated post agreement date?
Also can i draw the check from my current account or it needs to be a saving account ?
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Capital gain-long term and short term
Sir,
during last year 2012-13 we have given our land for joint development to a builder.
1. We made agreement to construction of Flats. The amount paid to us we mentioned as security deposit.
2. All prospective sale will be made by builder, he has give GPA to register the property of his portion.
3.Our portion will be sold by us and registration will be made by us.
In these case, what will our liability for Capital gains.
Kindly let me know the provision in income tax and exception and mode of filing tax return.
Thanks
MK Venkatesha
9686088277