Gopal Ranjan Panigrahi
06 March 2014 at 16:01
Respected Sir,
A person has a landed property in his individual name.Construct office premises over the same and leases it to Bank through his individual name.
Now later he gets an PAN Card in name of HUF and submits it to lessee bank saying the TAX be deducted on HUF PAN CARD.
Property is in Individual name .Registered lease deed of such premises has already been leased by such individual with Bank.
Now can Bank make payment on the newly given HUF PAN Card . Individual says his individual PAN through other sources has already crossed the tax exemption limit. Can the Bank deduct thru HUF pan .
If Yes, what are the means. If no the reasons for the same.
Thanks & Regards
Neeraj Kumar Giri
05 March 2014 at 23:56
Respected Experts,
Kindly give your opinion upon a case below.
If a Assessee, who is engaged in a trading business of Paints and Sanitary goods and he use to purchase goods from outside State as per WEST BENGAL VALUE ADDED TAX & CENTRAL SALES TAX ACT accordingly.
His turnover is below or near about Rs.45 Lakhs during the A.Y.2013-2014 and his net profit is more than 8%, so no question of Tax Audit arises and while filing his Income Tax Return he claim deduction u/s 80c and u/s 24(b), can he file his Income Tax Return u/s 44AD as his nature of business is resaler.
Is it mandatory that he have to maintain regular books of accounts.
(As ones falls in ambit of section 44AD no Books of Accounts is necessary ?)
Kindly tell me that is it mandatory to provide Books of Account before AO during the time of any Proceedings.
Sudhir Lohar
04 March 2014 at 21:39
WE HAVE PAID DUTY ON 7TH THROUGH E-PAYMENT ALONG WITH THE INTEREST FOR ONE DAY. NOW THE SUPDT IS ASKING US TO PAY THE INTEREST FOR TWO DAYS ie INTEREST TO BE CALCULATED FROM 5TH,AS THERE IS DELAY IN PAYMENT OF DUTY. AND ALSO HAS ASKED US TO PAY INTEREST ON SHORT PAYMENT OF INTEREST ALSO.IS THE SUPDT IS CORRECT IN DEMANDING THE SAME?
YAGNESH HASMUKH DAVE
03 March 2014 at 19:45
I AM HAVING RESIDENTAIL BUNGLOW WICH IS SELF OCCUPIED BY ME AND OTHERS 2 RESIDENTIAL FLAT WHICH ARE RENTED AND OTHER 2 RESIDENTIAL FLAT ARE VACANT AND ALSO OPENLAND WHICH ARE RENTED AND OTHER OPEN PLOT IS VACANT UNDER WEALTH WHICH ARE LIABLE FOR W TAX AND WHICH ARE EXEMPTED FROM W TAX
YAGNESH HASMUKH DAVE
03 March 2014 at 13:38
I AM CITIZEN OF INDIA & WORKING WITH COMPANY IN INDIA THE SAID COMPANY HAS CREDITED TO MY A/C.THE VALUE OF SHARE I.E 11,25,602 BEING VALUE OF PERQUISTIES U/S 17(2) AND INCLUDED IN MY TAXABLE SALARY IN FORM NO 16.THE SAID SHARE ARE GIVEN BY THE EMPLOYER IS LISTED IN NEWYORK EXCHANGE NOW I AM SELLING THE SHARE WITHIN ONE YEAR OR AFTER ONE YEAR THROUGH SHARE BROKER IN NEW YORK WHO HAS REMITTED THE SALE PROCEEDS OF THE SHARE IN USD VALUE & CREDITED TO MY SB A/C IN INDIA IN INR WHETHER SHORTTERM OR LONGTERM CAPITAL GAIN IS ATTRACTED & PAYABLE BY ME ALONGWITH MY SALARY INCOME TAX RETURN PL EXPLAIN
A M Mohammed
02 March 2014 at 23:32
A property was purchased 30 years ago and sale deed was made on payment and owner move to us and uk.
Same property for give on rent such as shops and apartment, all the tenants were instructed to pay the property tax no one check the tax was paid in whose name the new owner died due to sudden illness after few year relations of the new owner found that the tax is being paid in the name of tenants individual for shops and apartment but not in the name of new owner, how could it be upon check with the rental office it was found that the tenants register each of them in rental office thru which means do not know on the check the tenants change the tax paying in the Old owner name and in the middle there was new apartment tenant who also started paying in his own name with out contacting the new owner, so how to solve this issue.....now the new owner is in the middle stuck up there are lots of difficulties cant remove any of the as such they very old........
A M Mohammed
02 March 2014 at 18:39
I am tenant of complete floor I wish to pay tax for property which I am using I wish to have name on the tax receipt to prove myself that I am paying the tax regular and in time to show the owner.....can I pay in my name or how can I change name from owner of the property to my name while paying tax...reply
please email : mohammed.a.muqtader@gmail.com
Anoopkumar
28 February 2014 at 22:45
Sir,
Myself and my mother are the only members of our household.I'm the only son.We're staying in a house owned by my mother.For constructing this house,my mother(having no income) has availed a home loan,for which i'm the guarantor.In the loan agreement ,i am co-borrower and co-applicant also.We have not let out any portion of this house.We have no income /benefit other than staying from this house.
Please reply whether this house is self occupied house for me under Income tax rules.
Regards,
Anoop
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Input credit claim
Sir, I want to know that in Haryana output tax on final product(shoes) exempted up to Rs.500.in this connection can i claim input vat on raw material for refund.