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Sabyasachi Acharjya   24 February 2014 at 14:02

Int. on house building loan u/s-24(b)

I & my wife have availed House building loan jointly for one house since the property is documented jointly. Int on HBL is Rs. 2,00,000/- for FY-13-14. My wife is a house wife & she is not having any source of income.I have been paying the EMI out of my salary income & filing IT return . Shall I avail 1,50,000 deduction U/S-24(b)or Shall I avail only 1,00,000/- since the loan is joint account.

Gorthi   24 February 2014 at 11:47

K vat _vat rates on urd purchases

Dear All,

Please confirm what is the latest VAT Rates on URD purchases of Cement, Jelly etc of Construction material under Karnataka VAT act.

Is there any difference in VAT rates under composition scheme if purchases made from URD /RD

Gorthi   24 February 2014 at 10:37

K vat- reply to notice u/s 75 of k vat 2003

Dear All,

Can anyone one provide me the format to give the reply u/s 75 for K Vat 2003.

To have the background Commercial officer has visited our Construction registered office where no one is preset. Office issued show cause notice for penalty 10k and gone .
Now would like to know is it mandatory to pay 10k, how do i reply for notice, and can reduce amt to lower levels.

Earliest reply could be appreciated.



YAGNESH HASMUKH DAVE   22 February 2014 at 13:57

Taxation

PARTNERSHIP FORMED BY TWO PARTNERSHIP CONCERN ALONGWITH PVT LTD BEING JOINT VENTURE AGREEMENT. WHETHER INTEREST ON CAPITAL A/C INVESTMENT OF THE SAID PARTNERS ARE ALLOWED OR NOT FOR AY 2011/12

Raja Singh   22 February 2014 at 12:02

Vat

Can Anyone has the sample of filled WBVAT RETURN FORM 14, 15?

PLEASE HELP ME SOON..... :)

perwinder   21 February 2014 at 23:05

tax on sold house income

hi
I just sold my old house in 20 lacs and the buyer made the registry on 17.4 lacs rupees.
so out of 20 lacs 7.5 lacs I have given to my uncle in cash and rest 12.5 lacs buyer cheque to my icici saving account. .. in the deed buyer mentioned the cheque no. and amount 12 lacs and 50 deposited cash to my account.
mt question is do I have to pay any tax.
thanks

sudhindra   21 February 2014 at 22:27

Karnataka vat act

Dear experts:
Please explain section 35 and rule 38 of karnataka vat act and related case laws
yours truely

Gorthi   21 February 2014 at 16:07

Karnataka vat- rates on sand and jelly

Dear Experts,

Please confirm what is the vat rates on the Sand, Jelly, Cement from Unregistered dealers and Inter state sales . We are construction base company from Bangalore and purchases made from MP< AP and Maharashtra

Regards

Anurag Kumar   20 February 2014 at 23:13

Income tax notice

I have sold some property in 2010 to tenants who had been there for nearly 40 years. the property was sold at much less than circle rate because it was a distress sale. I was very ill and I needed money. now four years later i have received query from income tax department. they will now ask for enhanced tax according to circle rate though property was sold for much less. what to do?

dashrath patel   20 February 2014 at 14:08

Capital gain account scheme-income tax

Dear Sirs,

I want to clear my case here:
My uncle sold N.A land of Rs.6 crores as on 27 june,2011.He had neither paid capital gain tax nor filed income tax return u/s139 within due date. He also failed to re- invest money in residential property.and not deposited money in capital Gain account scheme. Now IT department have sent notice u/s 133(6) requiring to produce the information. The only way to claim exemption U/s 54F is that he must purchase plot of land and construct a house within 4 months( i.e. 3 years from the date of transfer of property) LAST DATE 27/06/2014. So as per law the taxpayer shall made deposit before furnishing the return of income or due date of furnishing the return of income u/s139(1) i.e. 31 july,2012 whichever is earlier.
I am still confused IS IT MANDATORY TO DEPOSIT MONEY IN CGAS SCHEME?