dashrath patel
20 February 2014 at 14:08
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?
Kapil Tiwari
20 February 2014 at 00:52
A very senior citizen (female), who could sign until last year has been hospitalised for a long time and will not be able to sign the ITR-V (to be sent to CPC, Bangalore) for the next IT Return filing. Can she be made to affix her thumb impression on the ITR-V? If yes, please advise if it should be left hand thumb impression or right hand thumb impression. Also, whether the thumb impression has to be witnessed/ attested? Should a declaration of the physical handicap be sent along with the ITR-V to Bangalore? Kindly advise. Thanks.
atul
19 February 2014 at 21:14
I am a salaried person.I have deposited money as FD in my name but interest earned is more than 10000 rupees.can I deposit money in the form of FD in my wife's name?will she get the exemption on interest earned on FD under income Tax rule?
Harsh
19 February 2014 at 18:19
Dear sir,
There was a demand against my company by excise department.
I filed a case in cestat in 2003 and granted me conditional stay by depositing 5 lakh.
now after 10 year I have won the case.
My query is how much interest I m going to get on my deposit of rs5 lakh .whether I m goin to get compound interest on it as it took long 10 year to dispose off.
Pls tell the procedure for taking the money back from excise dept with above query
Deepanshu Gupta
19 February 2014 at 13:42
I want to obtain the registration under MVAT for my client who is already registered under DVAT act.
Pls let me know the procedure, documents and cost involved in this and if any consultant who deals in MVAT registration. pls contact on 09999599837
Deepanshu Gupta
19 February 2014 at 13:40
We have a client who is registered under DVAT act. Now he has entered into purchase of printed cloth (tax free) transaction with the dealer in ahemdabad registered in Gujrat and he has given that printed cloth to some job worker(not registered) in gujrat for stitching the flag and he has to sent this flags directly to Orissa to final consumer who is not a registered dealer.
I want to know that what should be the billing process and what statutory form and road permits should be taken at each level and what is the concept of entry tax shall involve in this transaction.
Pls reply....
Neeraj Kumar Giri
18 February 2014 at 23:06
Dear Experts,
If any Income Tax Officer, is making an Assessment proceeding of an Assessee u/s 143(1) and after completion of proceeding he demanded Rs. 2 Lakhs as Income Tax and Interest as these income has been escaped by the Assessee in view of ITO. Then is it mandatory to pay the demand of Tax before filing appeal to the competent authority.
Because same incident had took place with a Assessee whom the ITO has told to first deposit the Tax then to file Appeal before CIT (Appeal), otherwise he is authorized to attach his bank for recovery of Tax.
So, Sir under which section of IT Act, can a ITO compel the Assessee to deposit the Tax before filing Appeal.
Thank You.
Santosh
17 February 2014 at 19:22
I had booked a under construction flat and paid 5lakhs token amount and was given allotment letter and have been paying regularly towards the construction.Final registration was done on dec 2009 and subsequently i sold it on april 2012. My query is the capital gains considered here is long term or short term and secondly what would be considered as my date of purchase?
pooja dedhia
17 February 2014 at 13:16
gift tax applicability when a new car received against old car which was met with road accident while driving – currently my car is met with accident with other car . other car owner has admitted his careless and negligence. My car is insured. Other car owner has given a new branded car from indian dealer . New car's cost is more than the car's WDV. I took the insurance from the company and give this amount to the car owner. My queries is that is this transaction attract the gift tax ? Is income tax caluse applicable?
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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?