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K. Gurumurthy   08 January 2013 at 16:42

Guidelines for income tax practise

Dear friends,

I have completed my law degree in the year 2012 September in first class(61%). Enrolled as an advocate on 22nd December 2012. I want to practice in taxation line(income tax and service tax) kindly give me your opinions and experts name list
thanks and regards
K.Gurumurthy

akash   07 January 2013 at 20:33

Restaurant charging service charge but no service tax or vat

Experts,

I ordered from a local restaurant and was surprised to see that the bill contained a 10% service charge (which is not enforced by the government), but there was no VAT or service tax. Is this legal? If not, who should this be reported to, and can this be done online if I send a scanned copy of the bill?

Just to clarify, this wasn't a kuccha bill but a proper computerized bill.

Thanks

iti   06 January 2013 at 22:31

Which ruling operates

Till April,2012 Haryana Acrylic case was used to decide whether reasons must be issued with notice u/s 148 within statuatory period.Later on with AG Holding case, it was stated that it was not required to give reasons within that period.
So in case of a notice issued without reasons before ruling of subsequent case came into existence ,which ruling will apply if objected after the latter ruling?

iti   06 January 2013 at 22:23

Reason to believe or reason to suspect.

can a TEP with a list of streedhan and a statement in plaint before MM in dv case that assessee has spent such amount on marriage of his daughter {nowhere stated that it was out of his sources}be made a basis of reason to believe by any ITO for starting reassessment?Any case law?

visu   06 January 2013 at 21:47

Cess on service tax

Experts,
pl. advise on the view that there is no education cess and Hr. Edu cess for Service tax from 01.07.2012

Since section 66 shall not apply from 01.07.2012 after introduction of section 66B
we can have the view that no edu cess and hr. edu cess on service tax from 01.07.2012.

Experts pl. through light on your views on this..!!

Venkat   06 January 2013 at 16:55

Marriage hall

Dear Sir/Madam,

I am a NRI and building a wedding hall in Tamil nadu, india.

1) Do i need any and what special approvals (e.g. NOC from Fire Safety department etc) to function as wedding hall ? (apart from normal building plan approvals from LPA)

2) what are taxes applicable and what percent approx.

3) What are tax savings options available.

Thanks for you assistance.

Venkat

MRIDUL BHARGAVA   06 January 2013 at 14:16

Service tax query!!!

An amount received from the government in installments by Public sector undertaking for implementing e-governance project in Govt. departments. PSU further assigns that work to specialized agency to execute the work. In this process, PSU earns some percentage as income like 5%.

Brain storming Question :-
1. What is the service tax liability for PSU?
2. Whether Service tax is applicable on the Income part only or the gross receipt amount received from Govt.?
3. Service tax applicability at the time of receiving advance from Govt. or at the time of billing to sub-contractor.?

Thanks in advance!!!

Radhakrishnan   05 January 2013 at 14:27

Computation of long term capital gains in disposal of plots

I purchased a plot on hire purchase in 2002 for Rs. 1,50,000/- at an instalment of 2740/- pm. Now in 2013, I am disposing the same at a sale consideration. What is the method of calculation of capital gains. Whether the interest or and principal paid to the financial institution to be computed while working out the capital gain. kindly elucidate me on what pretext i can seek exemption of tax and up to what extent.

Radhakrishnan

Karan Gaur   05 January 2013 at 12:30

Entry for purchase invoice

Greetings of the day to all experts!!!

Purchase invoice date :01.01.2013
Goods received in the factory:02.01.2013
Entry of the purchase invoice made in Excise record 03.01.2013
Entry of the purchase invoice made in accounting record 04.01.2013

What are the rules to record the purchase invoices in excise and accounting records?

Is there any mistake in above mentioned recording method?

Kindly suggest.....

pravin   05 January 2013 at 10:23

Tax benefit for emi/hrai for underconstruction flat

I have bought one under-construction flat in Pune on Aug 2011 which is still under-construction and will be get possession in Mar 2013-May 2013, currently i am staying on rent in same city. Now I am paying Home Loan EMI (only interest) & Rent. As per my company rule i can only claim HRA, not a Home Loan EMI whenever i will not get the possession letter.
So please suggest me can I get a tax benefit of both on EMI & HRA in financial year 2012-13?