Kamal
23 March 2013 at 21:20
A Public Trust was set up for philanthropic purpose. A Hospital was started for this purpose being property held under the Trust. The Trust is not registered u/s. 12A of the Act. Being initial years of operation, the Gross Recepits of the Hospital is below Rs. 1 Crore.
1. Whether exemption can be claimed u/s. 10(23C)(iiiae)? If yes what are the requirements? Is there any need of permission/registration?
2. If no, what will be the treatment of hospital income?
3. Revenue expenses are deductible from Hospital Income or Gross Receipt are chargeable to tax?
Please cite sections/circulars/case laws in favour of your answer.
snpathak
23 March 2013 at 19:50
AN ASSESSEE IS DOING HER BEAUTY PARLOUR BUSINESS.CAN SHE FILED HER RETURN OF INCOME FOR A.Y 2012-2013 U/S 44AD OF THE I.T.ACT1961.
snpathak
23 March 2013 at 19:34
an assessee is running her beauty parlour and wants to file her return of income for a.y.2012-2013.can she furnish her return u/s44AE of the income tax for a.y.2012-2013.give me correct advice.
ksr prasad
23 March 2013 at 14:23
I purchased a flat in hyderabad in 2011 with part funding through a bank loan and balance by selling my old property. The problem is that I was able to dispose off my old property only few months after purchasing my new property.Meanwhile I had to settle dues to my builder through bank loan & hand loan borrowed from a close relative to register the new property. I repaid that hand loan soon after selling my old property. Another issue is that though the value of both the properties is almost the same on paper, I had to shell down extra money to the builder which is equal to the hand loan for full settlement. How to explain all this if an issue come up. What is the legal position with respect to capital gains tax ?Please clarify.
kinnu
22 March 2013 at 13:54
(1)Is there any kind of rule for creamy layer in OBC which says "any person who is tax payer lies under the category of creamy layer"
(2)my father is a school lecturer(govt).his basic pay 20,510,grade pay4,800, total RS 43,798.
my mother is 2nd grade teacher(govt). her basic pay 18,990. total RS 34,562.
can i eligible to get obc non creamylayer certificate.
visu
21 March 2013 at 23:41
Experts,
Pl. advise,
Is salary paid in India to (foreigner) expat is SERVICE TAXABLE, under import of service under section 66A of service tax..? if
a) paid in Indian Currency
b) paid in foreign currency
c) paid partly in Indian currency and partly in foreign currency
PS: employee is in the regular muster roll; and in PF roll; paying income tax in India with valid PAN
Gaurav Sharma
21 March 2013 at 23:39
Hello,
My grandfather purchased a piece of land in 1950 and registry was also done in 1950. he built a house on this land and the nakshas were passed in 1955.However its conveyance was done with DDA in 1981 and the document title was sale deed.
kindly advice For ltcg purposes, whether to determine the index cost on 1950 or by 1981, as an IT officer may say the value in sale deed(conveyance deed) is to be considered rather than index cost of 1950.
the need to ask this question is because the conveyance deed done in 1981 is titled as sale deed by DDA.
thanks
pravin
21 March 2013 at 14:43
Dear Sir,
I am living in Pune on rent, I have submitted the rent receipt & Rent agreement on 100/- stamp paper to my employer for HRA for year 2012-13, but my employer ask me to submit the Rent agreement on 500/- stamp paper instead of 100/-. So is it require to submit on 500/- stamp
Thanks
pravin
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Capital gains on transfer of long term capital assests
A partnership firm sold its commercial property during A.Y 2011-2012 Which was acquired by the firm in A.Y.2006-2007.The detais are as under:----
sale consideration----13500000/=
cost of acquisition---6200000/=
firm not interested to invest sale consideration u/s 54E OFthe I.T.ACT1961.
How it can save maximum capital gain tax.