SARDAR BALVINDER SINGH
22 December 2018 at 23:52
HELLO!
my father was an govt employee and has got a land(open plot) registerd in his favour by gift deed from his brother-in-law in 1991. In 1993 my father borrowed mortagage loan from his office to construct home. Due to mortagage we have not done mutation. In 2015 my father got retired from his service and we got cleared mortagage title against property by submitting reconveyance of property letter by submitting it in registration office in JAN 2016. on enqiry about property tax we came to know that it has been generating in favour of person who have signed for witness no 1 out of 2 during registration of gift deed in 1991. Municipal corporation of my district have no legal documents against the person to which the property tax receipt have being generating. They told us the change have being made due to new assessement.
please suggest me the solution and is mutation neccesary or not in case we mortagaging our property for construction.
Partha
19 December 2018 at 09:43
Hi - If I get a non-residential plot from my father through a settlement deed, is there any short term or long term income tax implication?
Thanks,
Partha
BISWAJIT SENGUPTA
17 December 2018 at 10:51
Respected Sir,
We have recruited certain persons who are not under the payroll of the company on temporary basis. During their temporary period they are not interested to deduct any amount viz,. P.F., ESI, P.Tax, etc. They want their full amount. I would like to know and request to your goodself what is the head of accounts to disburse their amount on monthly basis without effecting any statutory obligation from our part
Sailesh Rai
16 December 2018 at 12:16
What are the documents required to open a Pan card for a non-profitable co-operative society in west bengal
Anonymous
15 December 2018 at 21:02
Sir,
A society registered under Societies Registration Act, assessed as AOP society has been filing ITR 5 returns paying tax on the surplus. The society is running a degree college and getting grants from the Government and not covered U/s. 10(23)(C ) and also No 12A Registration. A Gift is made by the Governing Body members to the society during May 2017 and as such, the case on the face of it falls within the ambit of Section 56(2)(x). Kindly advise if the situation is otherwise
Thank you,
Anonymous
12 December 2018 at 19:21
Some gifts given in engagement to boy and family members in cash and kinds by father of girl he is also willing to gift a residential area please advise me what is taxable and what is not to what extent
Anonymous
25 November 2018 at 14:56
Mr A and Mr B is having a piece of open land approx 1200 sq ft.
I am entering into an agreement for purchasing the said land and constructing a 4 floorey building on the land.
The cost of construction will be borne by me and after the construction is completed, the floor area of 2nd & 3rd floors will be gifted to Mr A and Mr B.
The construction is supposed to be completed within 24 months and the floor ares of Ground & 1st floors will be sold immeditely i.e within 24 months
What will be the taxes for me, Mr A and Mr B...?
Anonymous
15 November 2018 at 16:34
Developer of Housing Society has taken possession of my flat for redevelopment of Society building who is paying me online Rs.20000/- p.m. i.e. Rs.2.40 lac p.a. towards compensation of rent. Work of plinth is on progress. My annual income from pension plus Bank’s Deposit Interest in my name plus on wife’s name will be Rs.6 lac in current financial year. I am filing IT Returns till now including income of my wife from earning interest. Now my son from USA has sent Rs.50 lac in saving account of my wife in April 2018 for purpose of expected maintenance and repair expenses of flat in the name of my wife, Medical Expenses of my wife and myself and medical/living expenses of my my two major kids. One of these kids is dependent daughter and minor grandson( No personal income of daughter and grandson). While other kid is major earning son but his income is insufficient to meet his cancer treatment. Wife will earn Rs.200000/- extra income this year from Bank interest on Rs.50 lac plus Rs.2 lac from rent of flat. I have following question.
1. May I claim Rs.2.40 lac income received from Developer under IT Act Sec 56 and same amount deductible under Sec 57(iii) so as to save income tax.
2. Should I file separate IT return of myself and wife separately to save income tax.
3. Is their Gift Tax on amount Rs.50 lac received by my wife from his son for purpose stated above.
bhavya
12 November 2018 at 15:21
can a unregistered private trust apply for PAN on the basis of notarized trust deed of such trust as proof of identity and proof of address.
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Registration and stamp duty charges for property purchased
A tenant( having lease deed) later himself purchased the same land where he runs the company with his OWN EXPENSES ON CIVIL CONSTRUCTION AND MACHINERIES. The registered document is kept pending because of stamp duty and registration fee issue. What is the % of registration fee and % of stamp duty for the property purchased under SARFAESI ACT? And whether the purchaser has to pay the stamp duty only (1)for the land purchased or (2)for the land purchased and the civil constructions done on his own expense or (3)for the land purchased , civil constructions and also the machineries done on his own expense?