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Naresh Mohan Gupta   29 June 2013 at 15:46

Income tax on bank interest

I have a saving plus account with SBI. In this account balance in excess of Rs. 5000 and in multiple of Rs. 10000.00 is automatically converted into Fixed deposit.Thus I have gained an interest of Rs. 22496.00 in F.Y.2012-13 and bank has deducted a TDS of Rs. 2261.00 over this amount. Someone has told me that upto Rs. 10000/- interest earned in saving account is exempted from income tax. Is it true? Will it be applicable in my case, If yes how much tax more I have to pay?I falls in 30% slab of income tax.
Regards

SUJITH K K   29 June 2013 at 15:00

Interstate work contract

Dear Sir,

We have got One work order from Surat based company.That have interstate purchase,Local purchase and Labour portion also.Then how to raise invoice under compounding scheme as per Kerala Value added tax


sujith

Siddhi Jhunjhunwala   28 June 2013 at 17:10

Service tax regn no.

Is it mandatory to write service receivers Service Tax regn No. On Invoice?

Siddhi Jhunjhunwala   28 June 2013 at 17:07

Tin no.

Is it mandatory to write TIN No. of buyer on Tax Invoice?

YAGNESH HASMUKH DAVE   27 June 2013 at 14:08

Wealth tax

SELF OCCUPIED RESIDENTIAL FLAT IN MUMBAI BESIDE THIS TWO MORE RESIDENTIAL FLATS AT DIFFERENT CITIES AND GIVEN ON RENTAL BASIS UNDER WEALTH TAX WHETHER ALL THREE FLATS ARE EXEMPETED OR ANY ONE FLAT IS ONLY EXEMPETED FROM WEALTH TAX PL CLARIFY

sanjiv batra   27 June 2013 at 13:15

Depreciation

WE HAD PURCHASED A FACTORY BUILDING DURING THE F.Y. 2012-13 (INLUSIVE OF LAND & BUILDING). THERE WAS A COMPOSITE DEAL WITH THE SELLER, NO SEPARATE AMOUNT OF LAND & BUILDING WAS DETERMINED AT THE TIME OF SALE. ONLY LAND AND CONSTRUCTION COST WAS MENTIONED IN THE SALE DEED FOR THE PURPOSE OF DETERMINED STAMP DUTY AS PER CIRCLE RATE. (1) SHOULD WE CHARGE DEPRECIATION ON FULL AMOUNT? (2) IF ON FACTORY BUILDING ONLY HOW WE WILL BIFERCATE THE FULL AMOUNT IN LAND AND BUILDING HEADS?

THANKS

SANJIV

prithwish sengupta   26 June 2013 at 11:59

Tax deducted at source

Respected Sir,
i am an employee of naval dockyard. For AY 2012-13 i have received a demand notice of Rs.80000 from IT office. However I would like to inform that Naval Dockyard (My employer) has deducted the TDS but has not deposited the same withb the authority. Kindly advice me what to do as i am no where responsible for the act of the employer.

Thanks

vinoj pjoseph   26 June 2013 at 11:28

Reg income tax on home loan

SIR,
I P,Vairavanathan working as central govt servant took a home loan for the construction of house. The land in which the house made is in the name of my wife. The bank informed that the housing loan will be granted in the name of my wife and I wiil be a Guarentor for the loan. So kindly give me a clarification that if the loan granted in the name of my wife and i will be a guarantor shall I can claim for the Income Tax rebate for the interest paid on this loan as by the IT rules.

WITH REGARDS
P.VAIRAVANATHAN.

eswar   24 June 2013 at 23:28

Tax

Dear Experts,
I am working for construction company,in our work order
"The Supply & Installation rates are excluding taxes, the VAT & Service tax shall be paid against proof payment made."is a Clause.
In this Most of the Supply items are bought out items,for that we are paying the VAT.Our Supply Rate is including our profit+Over Head etc.,

According to the above Clause,which is correct/Eligible claim in the following
1.100% Input VaT

or

2. Difference ie Input VaT - Output VAT

Please advice

Thanks/REgards

Eswar

Ankur Gupta Advocate   23 June 2013 at 14:12

What doing after ll.b.

Dear Sir/ Madam
I have done LL.B. with second division in 2013
I am doing job as a Accountant in company from 6 years
I want to join Income TAX or Sales TAx
bar
What I DO FOR RAGISTRATION


Thanking You