mahesh kumar yadav
17 June 2013 at 16:33
is director of the company required to pay professional tax on the remuneration paid by the company or company can deduct the PT from the salary and pay to the concerned authority of Andhra pradesh.
or the director requires to pay both ie for drawing remuneration from the company and also company can deduct the PT from the director salary
SUKHVIR HOUSING AGENCY
16 June 2013 at 19:29
HELLO TAX EXPERTS
FIRST OF ALL THANKS TO ALL FOR YOUR CONTINUOUS SUPPORT.
QUERY IS :
A NRI IS HAVING A RESIDENTIAL PROPERTY IN MUMBAI, WHAT IS THE TAX IMPLICATION ON HIM
AS I UNDERSTAND THERE IS NEW RULE OF 1% TDS APPLICABLE, IS THIS THE LIABILITY OF THE BUYER TO DEDUCT 1% OF THE CONSIDERATION VALUE AS TDS
SECONDLY AS SELLER IS NRI THERE IS TDS APPLICABLE ON "NRI SELLING PROPERTY IN INDIA". IS THIS AMOUNT ALSO RESPONSIBILITY OF THE BUYER TO DEDUCT TDS AMOUNT.
ARE THES T.D.S. SHOULD BE BEFORE REGISTRATION OF THE PROPERTY OR AFTER REGISTRATION.
YOUR VALUABLE SUGGESTION AWAITED
SUKHVIR
shanthi
15 June 2013 at 14:28
During the process of scrutiny some of KVP's were seized by income tax department. The KVP's were matured during the period when it was in the custody of IT department. So it could not be renewed. Now when the case is in our favour we got our KVP's but the bank is not providing us with interest from date of maturity to the date of receipt of amount. We should be entitled to interest as kvp was not in our custody so we could not renew it.
Kindly inform me what does law say regarding the above case as i believe we should be entitled to interest.
Rohit Makkar
15 June 2013 at 09:53
I want to ask a question. In Sec. 7(3A) of CST Act, text similar to below one is written:
"Where it appears necessary to authority granting a Certificate .......... for proper custody & use of forms referred to in subsection (3A), he may ...".
As per above, the forms are referred to in Sub-section (3A), i.e. this sub-section itself. But no such forms are mentioned/ indicated therein.
Also, Sub-section (2A) has a similar provision and certain forms are mentioned there.
My Question: Is Sec. 7(3A) actually talking about the forms referred to in Sec. 7(2A)?
If so, is any correction made in Sec. 7(3A) till yet?
pavani.pothugunta
14 June 2013 at 19:09
Aishwarya sold a building for Rs.80L . The assessing wants to invoke the provision of sec.50C and wants to tax as per stamp duty valuation? can it be done? if so what is the value of capital gain in that case?
pavani.pothugunta
14 June 2013 at 19:05
Whether projects like extending of roads relaying on existing roads are eligible for 80IB(4)??
Sundram N
14 June 2013 at 12:24
Dear Sir,
Kindly share your expert veiw that, form no. 27C which is filed by buyer to seller for claiming exemption from tax coolection at source.
As provision of section 206, seller has to submit one copy of 27C before Jurisdictional commissioner.
My query :
Factory is located in Uttar pradesh and Head office in West Bengal. assessment is completing under the assessing officer in Best bengal, Kolkata.
Now Scrap is sold in factory of UP and 27C is received there. TAN is seperate for factory and head office.
Please advice where to file 27C in UP or WEST BENGAL.
AMARENDRA SUTAR
13 June 2013 at 11:35
I have taken a railway contract for making railway line in Orissa, as a principal employer Railway is deducting WCT from my bills, can I deduct WCT from my vendors. That means can WCT deducted from sub vendors & the same is hold good.
Sundram N
13 June 2013 at 11:27
Dear Senior,
Kindly advice that, from what financial year, transfer pricing compliances is to be applicable under the income tax act.
As i studied the Law of practice of taxation by Mr. Singhania in which written that, the transfer pricing u/s92BA is applicable from assessment year 2013-14 it means finacial year 2012-13
But i studied the act in which i found that section 92BA is applicable from w.e.f 1-04-2013 it is apparent that, fiancial year 2013-14.
kindly clarify from year that transfer pricing is to be applied on domestic company.
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Bmc s increased property tax
BMC has increased the property tax for all 2 BHK flats in Mumbai and sent notice of difference in tax for the last 2 years and the last date for payment is 30th June 2013. Many societies have are not paying this amount and thinking that it will be reversed as there are some representations and cases filed. I have a flat and the in that society the property tax bills have been received in the name of flat owner. What should I do? Should I pay before 30th June or wait for sometime for some judgement to come as the amount involved is approx. 30000/-. Please advise.