C..a......STUDENT
17 December 2013 at 19:40
If an AOP which is exempt u/s 10(23C) of Income Tax, Act, 1961 gives salary to relatives of a member who are highly qualified and experienced for administrative and teaching jobs,
can this exemption be cancelled on this basis?
Manish
17 December 2013 at 17:50
What is TDS. who can deduct.
Suppose i Got 1CR as brokerage or Lottery ticket and i have to share it with 5 persons.
how will tds plays its role
YAGNESH HASMUKH DAVE
16 December 2013 at 20:05
I AM HAVING 4 RESIDENTIAL FLATS OUT OF WHICH ONE IS SELF OCCUPIED AND ANOTHER IS GIVEN RENTED THE REMAINING TWO RESIDENTIAL ARE VACANT WHETHER NOTIONAL VALUE OF VACANT FLATS TO BE ACERTAINED AND ADDED FOR TAXABLE INCOME FOR AY 2011-12 PL EXPLAIN
CA Shraddha Vora
16 December 2013 at 16:41
Upfront fees (Initial expenditure) paid to Asset Management Company (AMC) and also paid management fees every year to the AMC for managing the funds on behalf of the assessee{Individual making an investment to portfolio management}.
AMC will manage the portfolio of the assessee, as per the agreement AMC will make decision of investment on behalf of the assessee and commitment period is 6 years.
My query about the treatment of the above expenditure, whether above expenditure i.e. Upfront fees and management fees is Capital expenditure or revenue expenditure for taxability purpose.
If any further clarification require please let me know
A P Singh
14 December 2013 at 13:38
Respected Sirs,
Assessee's husband purchased 17.21 kathas agricultural land in Rs 825000/- in fy2011-12 (sale deed registered in April,2011)in her name . Assessee entered into agreement to sell 6 kathas of the same land in Rs 12 lac in Sep,2011 and received Rs 8 lac in cash by Feb,2012.
Thereafter ,the vendee paid Rs 250000 in cash in FY 2012-13 to the assesse. Because of very high stamp duty coupled with cash crunch the vendee got registered sale deed for only one katha land and that too in FY2013-14 April.
My question is the vendee has effectively paid consideration for 4 kathas land in FY 2011-12 itself and for 1 katha more in FY2012-13 itelf yet only 1.1 katha land has been transferred till date. A total of Ts 1.5 lacs remains unpaid. Assesse has to file belated returns for FY2011-12.SHOULD HE OR SHOULD HE NOT PAY SHORT TERM CAPITAL GAINS TAX FOR 5.25 KATHAS AGR. LAND SOLD, AGREEMNT FOR SALE FOR WHICH WAS EXECUTED IN SEP,2011 AND SALE CONSIDERATION RECEIVED FOR 5.25 KATHAS LAND YET ONLY 1.1 KATHA LAND REGISTERED/TRANSFERRED TILL DATE??? OR
PLEEASE REPLY SOON.SHALL BE OBLIGED
THANKS IN ADVANCE.
s venkata ramana
13 December 2013 at 14:24
A taxtaion statute exempt "gifts made in considertion of marriagre ". 'X' a friend of the bride , gifts a valubale article worth pf Rs 1 Lakh to her on the occasion of her marriage , Is such a gift exempt from tax under this statute?
Give us valubale Suggestions.
S.V.Ramana
LLB-Student.
s venkata ramana
13 December 2013 at 14:17
'X' a trader of betel leaves sought exemption of sales tax to betel leaves as they are vegetables. Can he suceed in treating betel leaves as vegetables ? Decide.
Give us your valubale suggestion.
Thanking You,
S.V.Ramana.
YAGNESH HASMUKH DAVE
13 December 2013 at 13:12
THE ASSESSING OFFICER IS SCRUTINSING THE ASSESSMENT U/S 143(3) FOR AY 2011-12 AND DETAILS ARE SUBMITTED FOR RELEVANT YEAR,BUT HE IS ALSO ASKING TO SUBMIT THE PARTYWISE PURCHASE LIST FOR THE AY 2009-10 & 2010-11 FOR WHICH NO NOTICE U/S 143(2) ARE ISSUED EVENTHOUGH DEMANDING THE DETAILS FOR PREVIOUS YEARS WHETHER HE CAN CALL FOR THE SAME AS PER LAW PL EXPLAIN
SANGAMESWARA RAO DHUPAM
13 December 2013 at 11:19
Respected Sirs,
Kindly explain the line of relationships with an individual as regards lineal ascendants and descendants in terms of gift tax under Section 56(2) of I.T.Act. Whether son or daugther of an individual begins to come under lineal Descendant or from son`s son/daughter or daugther`s son/daughter comes as lineal descendant. Please sirs,enlighten me as early as possible.
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Tax levies on flats under construction
I have booked a flat in Trivandrum city, Kerala State during the month of November 2013.
I would be deeply obliged to know the present tax rates (for example service tax and vat) that is applicable in Kerala.
Also are there any relief on these taxes?
Hoping to hear from you soon