suresh
26 September 2012 at 10:41
Dear sir,
A Pvt limited company sale of land and building Rs.12,00,000 ,cost of acquisition of land Rs.2,00,000 in the year 1993-94 and the company constructed building and capitalized in books Rs.5,00,000 ,depreciation claim on such building, WDV value of building as on date of sale Rs.3,00,000.
company followed
total sale consideration -land value -WDV value of building (i.e; 12,00,000 -2,00,000-3,00,000=7,00,000)
Rs. 7,00,000 is treated as Short-term Capital gain .
whether it is correct or not
if it is not correct Plz tell me
how to calculate the Long-term Capital gain & Short-term capital gain
msk
25 September 2012 at 16:42
Sir, I am from Aurangabad,Maharashtra,working in Govt of Maharashtra Company. Sir, Collector has allotted a piece of Govt Land for construction of sub station. Accordingly the occupancy price i.e. cost of land as per ready recknor rates Rs 6,80,000/- and Interest over it Rs 13,08,000/- has been deposited by our company.Total amount deposited Rs 19,88,000/- to Collector.As per Maharashtra Govt Circular dated 31/10/2006, Collector has directed to execute the agreement bond with necessary Stamp Duty and Registration charges. Sub registrar has informed the amount of Stamp duty at 4% and Registration charges as 1% over total amount of Rs 19,88,000/- i.e. Rs 99,400/-.
Now question is whether the Stamp Duty and Registration charges are applicable on Interest amount of Rs 13,80,000/- also.
Please give your valuable guidelines.
Rajaram
25 September 2012 at 07:41
Hi, a company is collecting money under the name Service Tax without registering ST. They are collecting from two years amounted to 13lakhs. What will the service department do if they came to know? If one wants to complain this act by that company to service tax, what is the procedure?
Asha
24 September 2012 at 19:25
Plzz hepl regarding this prob. When i imported 26AS of a client it gave the amount credited under section 194C near about 18 lacs but no TDS.Is it possible that No TDs is deducted on any payment credited or its the fault???
RAJESH CHOUDHARY
23 September 2012 at 18:55
Hello everyone, there are many clients who does not have service tax number so they take kuchha bill (without service tax) for various services like accounting, auditing, maintenance etc because they cannot calim CENVAT CREDIT. even myself has taken kuchha bill for water purifer/tea & coffee machine (fixed assets) & tea powder for my office because i am not liable for MVAT and i cannot claim credit of MVAT paid and in this way i can reduce my cost. My question : What is the risk of taking "kuchha bill"(if the payer cannot is not registered under MVAT/service tax) from taxation point of view ??
RAJESH CHOUDHARY
23 September 2012 at 18:53
Hello everyone, Mr. X has registered himself under MVAT on 20th sep 2012. from April 2012 to 19th september he has purchases of Rs.400000/- on which he has paid MVAT say Rs.45000/- My question : Can he claim the set off of Rs.45000/- in the MVAT return for the period april to september 2012 ? thanks in advance waiting for your reply.
Regards,
Rajesh Choudhary
Asha
23 September 2012 at 18:50
TDS of Rs.528120 was deducted by the system on a term deposit of Rs.2.50 crore on 31.03.2005 pertaining to a University. This TDS was remitted to ITO after a week. University had not submitted any tax exemption letter / 15 H form. This deposit was matured for payment on 10.04.2006 and University wanted to renew this deposit together with interest when TDS deduction of Rs.528120 was noticed. To favor the depositor, Bank has refunded the TDS of Rs.528120 and renewed the deposit. Refund was done to the debit of SUSPENSE account as per the ORAL instructions of Regional Head of the Bank At this point of time TDS of Rs.3.50 lakhs deducted by the system on all the deposits on 31.03.2006 was not remitted to ITO till 30.06.2006.The Branch manager was transferred to another branch. He instructed the Accountant of the branch to credit Rs3.50 lakhs to SUSPENSE account where Rs.528120 refund of TDS was outstanding. When this matter was referred to a Chartered Accountant, he opined that bank cannot do such adjustments as Bank has to issue TDS certificates to investors as on 31.03.2006 and date of remittance of TDS must be mentioned in the TDS certificate and bank cannot mention the date of remittance if bank resorts to such adjustments. So amount of Rs.3.50 TDS as on 31.03.2006 was remitted to ITO belatedly. Bank has absorbed Rs.528120 in its revenue account as it cannot hold the amount in suspense account for indefinite period and claimed the amount from ITO by obtaining a letter from the University that Bank can claim this amount from ITO.This TDS refund is not yet settled by ITO. In this connection, kindly guide me on following Whether Regional Head of a bank has any discretionary powers to refund the TDS amount to the depositor to the debit of SUSPENSE account when this TDS was already remitted to ITO one year back without any proposal / planning as to how to get back the amount Whether Bank's decision to adjust the TDS of 31.03.2006 to SUSPENSE account was right Is this a procedural mistake or a FRAUD? Please offer your comments and suggestions
Thanking you in advance sir,
Asha
22 September 2012 at 18:25
one of my brother who is an Individual has 2 Proprietory Conerns, both the 2 concerns are under TAX audit . So How to fillup in the e-filing software about these two concerns balance sheet & Profit loss account in ITR_4 Form. PLS. SUGGEST ME. AWAITING FOR REPLY.
chandrakant
22 September 2012 at 12:59
I had filed online returns for AY 2011-12 claiming refund of 7806 as my TDS was 16968 and aggregate income tax liability was 9162. I have received rectification order from CPC Bangalore and it shows (in column AS COMPUTED UNDER SEC 154) TDS 0000 aggregate income tax liability 9435 refund amount 0000 and net amount payable 9435.
If TDS is 16968 (as per form 26S) why CPC is asking to pay 9435 ? Aren't they linked with NSDL ? What should I do to claim the refund ?
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Tds on port dues
Dear All,
Is Custom House Agent (CHA) liable for Tax deduction on Port charges i.e Calcutta Port, Haldia Port etc. ? Please note that Calcutta Port, Haldia Port are not Govt organisation. CHA disburse the port charges to Port authority on behalf of its clients, and CHA issue bills to its clients (without making any profit on port charges) and get 100% reimbursement from its clients for port charges.
My question is, whether CHA is liable for tax deduction on Port authority?
Bhupesh