ess
10 September 2012 at 05:47
What is meant by income tax scrutiny ? How is this done ? What precautions has one to take to avoid harrasment ?
Thanks
rajsh
10 September 2012 at 02:29
we have recently sold our inherited agricultural land situated in maharashtra for a lesser consideration amount as it was encroached with illegal tenants and trespasser. Me and my mother got the share of my late father. Now be both are planning to buy a flat jointly with the amount receive. however the amount received is not sufficient so I am going for a loan for the additional amount required to purchase the flat.
Please let me know can we both invest in the same property to avoid capital gain tax if applicable?
we have also received a letter / certificate from the talathi in marathi which states that : MARATHI- "SADAR JAMINI HYA MAHANAGAR PALIKA HADDI PASUN SUMARE 8 KM ANTRAVAR AAHET.
Is this wording correct?
Also as per the census avilable on net the population of the said village is aroung 4000 only.
Pls guide me in this matter.
thanks
Amol Ashok Baviskar
09 September 2012 at 14:36
Dear Mr.Shah,
Good afternoon,
Thanks for your reply,
This is Amol Baviskar from auarangabad,
Yesterday i had post query regarding service tax & vat but there is confusion in your understading,Pl. read details as mention below.
I had purchsed new flat from a builder but we was not make sale deed or agreement of sale.At time of possesion we made registry on 31st may 2012.That flat is not having furniture & not having building completion certificate.
Cost of that flat is 1850000/- but we made registry for 1100000/-onyl.Now builder charged 3.20 % service tax & 1 % vat on 1100000/-
Pl. confirm is it applicable in this case or not applicable.
If it is applicable,which name required on on tax paid receipt?
Because he confirm to "you will get receipt in the name of bulider"
Is it true?
Also tell me how can i reply to your message?
Amol Ashok Baviskar
08 September 2012 at 14:16
I had purchased new flat in auarangabad (maharashtra) at beed by pass area.
Registry amount for flat is 1100000/-
Builder has charged me 3.10% service tax & 1% vat on total regirty value.
Note note that we don't make agreement of sale or any type of document the time of booking.Directly make a registry.
Pl. confirm service tax & vat is applicable ot not applicable.
If it is applicable,name on the receipt is bulider or owner.
Asha
08 September 2012 at 13:09
Dear All,
My client is paying towing charges to one of the company.And that company is raising bill with service tax with 12.36%
My question is
1)Whether towing charges & transportation charges both are same?
2)If towing charges is liable for service tax then under which service category they have registered?
Thanks
GAURAV
08 September 2012 at 06:04
My Grand father has given Rs. one lacs to me by cheque from his a/c and the same has deposited in my a/c. Whether any Gift tax or Income Tax is applicable on me for this amount?
P.Parthasarathi
07 September 2012 at 18:53
My client is a charitable trust having registered u/s 12A of It Act.Its only source of revenue is donations from various organisations and individuals. During the previous year relevant to asst. year 2010-11 it made some expenses in cash exceeding Rs.20,000/-. The AO questioned in scrutiny assessment why they are not to be disallowed in terms of sec. 40A(3). In my opinion, since the trust is not a business concern the income, even in the absence of 12A, is not be charged to tax u/s 28 --if at all it is to be charged it should be only under the head Other Sources in terms of sec. 56. In that case sec. 40A(3) is not applicable to this case. Kindly confirm and please quote any citations in this regard.
Asha
06 September 2012 at 17:53
Can any one tell me whether income from agri park is liable to service tax or not ? if yes, under which section or notificaton.
SANTOSH KUMAR BEHERA
06 September 2012 at 13:11
Dear Sir,
A society is registered under societies act and its registered office in New Delhi
where professional tax act is not applicable, however its operation is spread through out India and its payroll processing is done in karntaka(head office). whether the society has to deduct Professional Tax from salary given to employee employed outside Delhi.
As like company, whether society has to paid professional tax.
With Regards
Santosh
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Income from house property self owned, residig claiming hra
A propoert is self owned. Owner is residing and claiming HRA(without rent receipt) for same property from company.
Two questions arise:
1)is the property deemed let out?
2) Is deduction 30% for r & m allowed?
3) Is interest deductible for 1.5 lace or unlimited as in case of let out property?