rajesh singal
09 September 2013 at 11:32
Dear Experts,
I own two residential properties( one self occupied and one rented) on my name and my father had one(residential) on his name. After his death the third property was interherited by me through will. I want to sell this third property and want to buy a small one on my name.
1. Is it allowed to have three properties on one name?
2. Do i need to pay capital gain on selling third property inherited from father even if i am purchasing a new property in lieu of sold property(re-investing proceeds of selling into residential property) ?
3. Is there legal way to minimize the capital gain tax libility while selling this third property?
4. Do i need to pay wealth tax if i keep three properties? What is rate of wealth tax?
Sajal Sarkar
08 September 2013 at 22:03
Dear Sir,
X is a Trader having business entity registered as body corporate. X does not provide any services at all. In the month of March, 2013 X received a service from Y (a partnership firm) for Manpower supply.Y raised a service bill of Rs.5,000/- with ST Rs.155 (25% of Rs.5,000*12.36%) making total of Rs. 5,155/-.X paid the service bill of Rs. 5,155/-.
My queries are-
1)Is X falling in service tax registration?
2)If so in which taxable service X will fill up ST-1 ?
3)If X receive other taxable service like works contract service ?
Please help me in this regard.
Regards,
Sajal Sarkar
JAGANNATH RAO PARINAM
08 September 2013 at 19:28
Dear Sir,
I am planning to purcahse one house( for personal residence) in a gated community from a builder.The proposed terms are as under:
1. First a sale deed for land will be made as per collector rates and land will be transferred to buyer for say Rs 30 lacs.
2 Then a Works contract - contruction agreement will be made by builder with the buyer for say Rs 45 lacs.
My queries are :
Whether Service tax is payable at 3.71% of works contract or not. I heard service Tax is not applicable if the house is constructed for personal residence.Even if
Service Tax is applicable ,has to be deposited by Builder with the Govt.
Is there any VAT involvement .
whether TDS U/S 194 - IA is to be paid ,since there will be two separate agreements for sale of land and contruction of house.
I appreciate your clarifications
pjrao
A P Singh
07 September 2013 at 19:07
SIRS,
Land was purchased by my grandfather in 1973.After his death it devolved upon my father and after my father's death in 2009 it devolved upon me after partition between me and my brothers in 2010.I sold a part of it in fy 2012-13.From which year indexation benefit available to me 1981-82 or 2009-10 when my father passed away or 2010-11 when the land was allotted to me in family partition.
pl. respond
thanks in advance
surajp21
07 September 2013 at 19:05
Dear Sir / Madam,
I request you to clarify on Form C, E1 & E2 under MVAT based on following sample transaction.
There are 4 parties. Mr. A from Maharashtra, Mr. B from Maharashtra, Mr. C from Delhi and Mr. D from Andhra Pradesh.
Here Mr. A sells goods to Mr. B who in turn sells goods to Mr. C and Mr. C in turn sells the goods to ultimate buyer Mr. D.
But actually the goods are delivered by Mr. A from Maharashtra to Mr. D, Andhra Pradesh directly.
My queries are as follows:
1) Whether is this ‘in-transit’ transaction covered under section 6(2)?
2) Which forms will be exchanged between all the four parties?
3) Transactions between whom will be exempt from tax and which are taxable to CST?
4) Who will ultimately pay tax to the Govt?
5) In the Subsequent transactions, how CST effect will be shown in the bill?
Regards,
Suraj
rajeshree h oza
05 September 2013 at 13:02
respected sir or madam
plz inform me about which mathod reduce input tax credit
example:my clientis registerd dealer under gujarat value added tax act and sale and purchase lubricant total sale 500000rs (in gujarat sale 400000rs and 100000rs ogs sale)total purchase 500000 (gujarat purchase 350000rs and ogs purchase 150000rs)how much rupees tax credit reduce and which mathod reduce thankyou dilip sir you give me argent answer
Sanjay
05 September 2013 at 07:39
Please let me know procedure to file incometax return for A.Y.2010-11 which is time barred.
Assessee Resident, Individual, Salary Income only - above Rs.10 Lakhs. No Refund is due, only a small balance amount of tax to be paid by assessee.
Gaurav Gujrati
03 September 2013 at 23:03
Can any body tell case law about Mis-Declaration of vehicle with the view of Importing low end vehicle in the high end vehicle.....?????????
ritesh
03 September 2013 at 19:00
I have a firm registered with service tax. But actually this firm has been closed near 2 years before. Since then I have not filed any service tax return. Now I want to surrender this registration no. So Please tell me if it is necessary to file service tax returns upto till date before surrendering. Or I can surrender without it.
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