LCI Learning
Master NDPS 2.0: Latest Legal Developments, Best Practices & Landmark Case Studies

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Asha   22 September 2012 at 18:25

Tax audit

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

Rectification order under section 154

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 ?

visu   21 September 2012 at 21:50

Service tax on commercial rent

Experts
pl. advise on the following:

We find from notification no. 24/2007 that commercial rent which is in the ambit of service tax net has exemption to the actual amount of property tax paid.

Service tax is a DIRECT tax, which is collected and paid; where the property tax is not actually passed on the lessee;

In such cases, how a service tax assessee can claim the service tax on the property tax.

Is this exemption really applicable?
Pl. advise and suggest

jaya   21 September 2012 at 15:25

Income tax

I was working in Trivandrum till April 2010. As ours is a transferable job from mid-April 2011 I am working in Mumbai because of my transfer. I had filed my IT return on July 2011 for the assessment year 2011-12 in Mumbai. But now I have received a letter from Trivandrum ITO asking me to appear in person (under sec 142(2) ) quoting the return what I had filed in Mumbai . What should I do? I cannot immediately go to TVM due to official commitments. Kindly advise.

Asha   21 September 2012 at 12:54

Service tax

I wan to know whether i am eligible to take service tax credit for previous years relating to 2008-09,2009-10,2010-11 & 2011-12 now if i have not taken the same. The same amounts are also standing in my accounts as service tax credit. I have paid for all the service tax bills in the respective year only.


Asha   21 September 2012 at 10:28

Employee

Dear Sir We have hired part time and Casual employees to my company apart from regular on roll employees. Can please give the statutory provisions regarding Part time employees and casual employees? And also tax provisions?

Sayed   19 September 2012 at 18:47

Money return -- tax

Dears,
I am an NRI. I was planning to purchase a flat in Mumbai through my Father-in-law.I transferred the money to my Father-in-law's account in Mumbai from my NRE account.The deal got cancelled and now i want to take back the money and purchase land elsewhere in different state.
Now if my Father-in-Law transfers the money back to my NRO account, is there going to be a tax or do i need to inform the bank?
Thanks & Regards,
Sayed

Hans Raj Singh Bist   19 September 2012 at 17:52

Question of jurisdiction

can question of jurisdiction can be raised at second appeal stage

shridhar   19 September 2012 at 13:35

Capital gains on ancestral property

im planing to sell my ancestral agricultural land at hubli and would like to invest in madhya pradesh. how can i avoid capital gains?

P.Parthasarathi   18 September 2012 at 18:36

Agricultural income

My client is a partnership firm deriving income from Poultry farming. With effect from the assessment year they have leased out their business to another firm alongwith the building, the cages for keeping the birds etc. The building is surrounded by land with coconut plantation of which there was no mention in the lease deed. The lesser firm enjoyed the yield from the trees and disclosed the agricultural income in their return. The AO did not accept the agr. income on the ground that since the entire premises have been leased out, it automatically means that the trees have also been leased out and no income could be derived from the trees by the lessor firm. The assessment has been appealed against. In appeal it is being contested that since no specific mention has been made about the trees in the lease deed it automatically means that the right to enjoy the yield is retained with the original land loard, i.e. the lessor firm. Kindly give me knowledge of any case laws on in this regard.