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Bhaskar Dey   07 April 2013 at 07:33

Wealth tax on incomplete property

Sir,
I already have a house in which I stay with my family. I have booked a flat for which I paid a total of Rs.37,00,000/- (Rupees Thirty Seven Lakhs) in instalments, in the last financial year ending 31.3.2013. No loan was taken. The flat is still incomplete and not handed over. The Developer says it will take another two months for completion and handing over. Since the amount of instalments paid is more than Thirty Lakhs, I am worried if I have to pay Wealth Tax on this property.
Please advise if I have to pay Wealth Tax on this incomplete property?
Thanks in advance,
B.Dey

pk parashar   06 April 2013 at 21:00

Service tax

Dear Sir,

Please Confirm, Freight paid to Road side Lorry Operator/ Owner, is fall under which category negative list Notif. 19/2012St or exempted services Notif. 25/2012St ( without Consignment Note)

Prashant Raj   06 April 2013 at 17:30

Reg. 80 c deduction

My friend recently bought a house he will get the possession after an year. He was told by somebody that his house registration fee paid to government can be shown in the 1 lac slab of section 80C. Is this true?

PRACHI   06 April 2013 at 17:03

Bank attachment

my client's bank account has been attached. Now to cancel the attachment what will be the procedure. whether he has to pay 50% amount or full amount as per the demand letter

Ankit Sehra   06 April 2013 at 13:47

Legal consultancy provided by a non professionals.?>

Hi Experts,

Please tell me if Non Professionals (LLP) has provided legal consultancy services, But there is No lawyer partner in the Firm and in the service tax registration (ST-2) they dont register for legal consultancy services?
They are registered in Business Auxiliary Services?
My question is, In which Head these services should be Charged ?
Business Auxilary or any other
Please Suggest.


Thanks & Best Regards

hetalsangoi   05 April 2013 at 22:40

Deduction of principal amt of loan by firm

Partnership firm can claim deducation of principal Repayment of loan against purchased property, if yes under which section.

hetalsangoi   05 April 2013 at 21:58

Is it called transfer when gala exchange for only conveyance purpose

We have currently exchanged commercial units to our nearest neighbor for the our conveyance of our existing office. We have possessed Gala no 8 & 10. We have exchanged Gala no 10 and got exchanged & how having Gala no 9. So now it is easy for our conveyance to access Gala no.9.with 8 Is this transaction called transfer u/s 2(47) of Income tax Act 1961.

sudhindra   05 April 2013 at 13:52

Regarding karnataka vat act

dear experts
what is the penalty for non filling of monthly returns ( form 100 vat or cot 120 form)under Karnataka vat act

HARESH   05 April 2013 at 11:35

How much input tax credit claim

Dear Sir,

I am Register Dealer in Gujarat.

I purchases A good with in State of Gujarat and Sales to Delhi.

I Purchases Good at 4+1=5 vat and sales it against C-Forms to Dealer Register in Delhi.

How much Input Tax Credit Claim in the State of Gujarat ?

HARESH   05 April 2013 at 11:32

Input tax credit claim

Dear sir,

I am a Register Dealer in Gujarat VAT Act. I Purchases a goods from Register dealer in GVAT. and i Receive Retail invoice from Purchaser

Can i claim Input VAT credit of This Invoice ?