mukesh jain
28 July 2012 at 11:19
Giving cash loan of Rs 2,00,000 to a friend is legal or illegal under income tax act. plz. awnser in detail with income tax section and penalty or imprisonment.
nitin jain
28 July 2012 at 10:57
Notification No. 50/2003-C.E., dated 10th June, 2003. The said paragraph 2 reads as under :
"2. The exemption contained in this notification shall apply only to the following kinds of units, namely :-
(a) new industrial units which have commenced their commercial production on or after the 7th day of January, 2003;
(b) industrial units existing before the 7th day of January, 2003, but which have undertaken substantial expansion by way of increase in installed capacity by not less than twenty five per cent, on or after the 7th day of January, 2003."
In the above notification i want to know that if we are existing unit befor 7 jan 2003 and our production is 10 MT per month.We have some plant and machinery in our store before 7 jan 2003.we also make purchase of some additional plant and machinery from market till 10 jan 2003.and install the same from period 7 jan 2003 to 15 jan 2003.and our commercial production start from 16 jan 2003 which is more than 25 percent as desired in the notification.In this situation we are entitle to take excise exemption benefit or not?plxz reply
thanx
B@75BHAIBABU
27 July 2012 at 07:32
my brother has sold a landthat has been done illegally.in the sale deed he has shown that cost of property is meagre 2000 rupees but actual cost of that property was several times much more than that.thus he has evaded tax to government at the time of sale.my question is 1)how i can collect the approximate market cost of that property at the time of sale since incident has occured 10 years ago.2)what are the sections related to evasion of tax applicable in this case.
pooja dedhia
26 July 2012 at 12:41
TdS on out side Payment
That amount send out side india to a foreign company for exhibition stall booking Charges and stall decoration charges for exhibition out side india whether tds should be deductable if yes which rate or not why in following condition : a) if Foreign company held a branch in india b) if Foreign company not held a branch in india
BHOOP SINGH
25 July 2012 at 16:35
Dear All
We are registered under HVAT 2003 as Trader. I have two queries please help me.
1. We purchased one item from a VAT dealer but due to some reason, the said item can not be sold to any one. so that item we provide to our staff as free of cost.
2. We imported some parts to repair a electronic machine. The said machine of our customer and we have to charge service charge. So we have to charge VAT from our customer or service tax only or both.
And how above both transactions are Treated under VAT R1 and which annexure.
Thanks
Bhoop Singh
pooja dedhia
25 July 2012 at 14:22
a mumbai partnership firm has partcipated in the exhibition and booked stall with world book fair exhibitor for the foreign amt 3.648 EUR,
IS TDS IS REQUIRED TO DEDUCT WHILE MAKING THE PAYMENT TO FOREIGN FRANKFURT EXHIBITOR?
GREAT ROY
25 July 2012 at 14:03
since last 6 months, it is found that One of our Income tax Officer and Inspector are harassing some clients asking money. Otherwise they will take the case in scrutiny
manually.Now I would like to written complain
against them.Please provide me a letter format.
C. P. CHUGH
25 July 2012 at 09:15
Dear Xperts,
In the Light of the following judgements of Hon'ble Apex Court, an HUF cannot be a partner in any firm.
My question what is position where the HUF entered into partnership through Karta
before these judements.
Will it continue to be partner,
will it cease to be partner from such date,
Pls advise.
"The Supreme Court of India held (AIR-1930-PC-300 & AIR1956-SC-854) - HUF isan association of persons is "not a person" within the meaning of expression in thePartnership Act. "… it is now well settled that HUF cannot enter into contract of partnership with another person or persons."The Supreme Court of India, in another case M/s Rasiklal & Co Vs Commissioner of held that "…………. an HUF directly or indirectly cannot become a partner of a firm because the firm is an association of individuals." "…….in law, an HUF can never be a partner in partnership firm"
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Capital gain
sir
i purchase a flat in delhi in 93-94. i got possession and after that i paid all due installment with penalty appox 60000 but achul registery of general power of attorney made in 2000-01 of rs 50000. other expeses was 5000 as commision and rs 1000other.
now i have sell this flat in 2011 for registered at 10 lac with 32000 commission.
please help me how to compute capital gain.
reason for late registery is that property was disputed but no legal case on it.