hdshardik
17 November 2013 at 22:25
As per section 75.- Losses of firms.- Where the assessee is a firm, 2 partner the same share of the retiring partner and the private co is admitted by same share retiring partners and by same percentage a private lt continues in the said firm , as on date un absorbed depreciation is stood 5 Lacs , can unabsorbed c/f depreication is alllowable to set off against the profit available in the subsequest year ? is retiring partners shares unabsorbed depreciation require to separate and not allow for setoff against profit of the firm under sections 70, 71, 72, 73, 74 and 74A. ?
hdshardik
17 November 2013 at 21:31
WHEN FUNDS ARE BORROWED BY partners in his individual capacity and contributed as capital in firm , in such case , interest received on partners capital is taxable in the return of his , can against this interst paid on the borrowed capital is allow for the deduction? kindly support with any case laws is permissible?
glen
17 November 2013 at 11:35
Hello Sirs,
My father owns a pagdi based house since 1975 in Mulund Mumbai which is in the process of redevelopment. The transfer of ownership has been provided to the new builder. Now the orginal landlord are asking property tax from all the tenenats from year 1975. As he claims we did not provide any property tax then.
The landlord has divided the property tax equally among all the tenants (including himself as he stayed in the same bld)
- Is this ratio of 100% division fair as in pagdi we are just 70% owners of the flat. Hence are we not entitled to pay only 70% of property tax?
- Is property tax divided on per sq foot basis? or is it divided equally among tenants.
- Can we get a per flat estimate of the pending property tax directly from the goverment even if our flats were on pagdi and the landlord as not entered our agreements in the municipal office. How can we approch the municpal office to claim per flat property tax divisions?
Regards,
Glen
Vinayak Anikhindi
17 November 2013 at 08:55
I have purchased flat in pimple gurav the agreement registration date is april 2012 Builder has charged me service tax on total agreement cost @ 3.09% and Vat @ 1% however he has given the completion certificafte issued by corporation which is dated Mar 2012. Now he has asked service tax for year 2013 as well please brief me what is payble legally.
C..a......STUDENT
16 November 2013 at 18:22
Will service tax provisions be applicable on the following online services:
1) To Acquire, Assign, Buy, Carry on, Deal in, Dispose off, Market, Procure, Protect, Purchase,Register, Sell, Trade for, Transfer, Use, Vend and Work for Domains Names; Service Marks & Names; Web Designing; Web Hosting; Web Intelligence; Web Management; Web Page Hosting; Web Server, Web Services and all other branches of Domains Registration and
Registry and to render IT Enabled Services.
2) To do business of Development and sale of Internet sites, Development of Computer Software, Portal Development, SSL certificates and Search engine optimization.
3) To provide services of online business promotion and commerce development.
Please reply.
Sreejith
16 November 2013 at 13:09
Respected Experts,
I want to know if any one provide cement to ready mix provider, Is excise duty is applicable on total ready mix he supplies or excluding the cost of cement.
Note: Since it is SEZ cement purchased with ED exemption.
Regards
Sreejith
neha
15 November 2013 at 12:28
Dear experts
I want to know that if a private company take over a partnership firm ( which is now availing excise exemptions)as a wholly owned subsidiary, will excise exemptions be continued to the company ?
Thanks.
C..a......STUDENT
14 November 2013 at 18:56
If assessee is an individual and engaged in the business of financing purchase of goods on Hire Purchase, will Service Tax provisions apply on interest received in this?
Please reply.
C..a......STUDENT
14 November 2013 at 18:53
As per Rule 6A of Service Tax Rules, as inserted w.e.f. 1-7-2012, a service shall be treated as export of service when all following conditions are satisfied –
(a) the provider of service is located in the taxable territory
(b) the recipient of service is located outside India
(c) the service is not in negative list of services
(d) the place of provision of the service is outside India
(e) the payment for such service has been received by the provider of service in convertible foreign exchange, and
(f) Service provider and receiver are not merely branches of same person.
All points are satisfied except pt (e) which is doubtful since the assessee is receiving the payment from its USA based client in US dollars but due to some complexities was unable to get in the money straight into India without registering itself there as a co. So, as an alternative, it used the services of an entity in USA to get the currency converted into Rupees and send the proceeds to India.
Will Service Tax provisions be applicable .i.e. will it be considered a export of service or not?
Please reply.
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Section 87a of income tax act
Sir,
I am an employer. I am deducting TDS from my employees by allowing slab of Rs.2,00,000/-. Now after inserting of Section 87a of I.T Act, Shall I allow Rs.2,20,000/- before computing TDS for the employees whose income is less then 5 lakhs.