Subhagata Dey
13 July 2012 at 11:07
When an employer has short deducted tax and the matter came alive in the FORM 16, whether the employee needs to pay interest on the income u/s 234b/234c while paying the self assessment tax after March 31?
Subhagata Dey
12 July 2012 at 10:08
I would like to know if a capital asset is sold in January 2012 whether the estimation of the gains to be included in the calculation of advance tax for September 2011? If not paid whether interest u/s 234B,234C is to be paid uner IT Act 1961
Whether for the capital gains "pay as you earn" concept is accepted.
Anand Reddy
12 July 2012 at 09:07
Sir,
In the new Negative List of Services not to be taxed the first mentioned Service is
1.1. Services by the Government or local authorities: These will include such services like getting a passport, a driving license, paying municipal taxes, car registration fees, police fines and so on. What you pay for such services will not include any service tax.
But of course, there are exceptions. Service tax will still be applicable on:
- Speed or Express Post, and life insurance bought from a post office
- airport services
- government services provided to businesses. (Companies will pay it on the annual filing charges payable to the Registrar of Companies, for instance).
With reference to the above I request you to guide me on:
Whether Service Tax is payable by the Private Company if Soverign Functions of Govt. are Outsourced to the Private Company?
pooja dedhia
11 July 2012 at 18:30
huf has transfer the cheque of amt rs 11 lacs to his co-parcers in love & affection
is above transaction will cover tax implication? if yes to whom it is payable? which section is support ?
pankaj mahajan
11 July 2012 at 15:54
Sir ,i have sell a flat ,and this flat is my mother name and she is housewife .i have open joint account in icici bank ,flat cost as per market value is 18 lac(ragister value)my ?? is i want all amt will be diposit at our joint accont ,befor the deposit 18 lac amt what doc will submited in bank and what is cycle peried of income tax and how to save in come tax and but our next plan is buying new big home
pls give suggetion....
CA Sahi Singla
11 July 2012 at 15:30
Sir
I have a Non SSI Partnership Firm engaged in Manufacturing of Iron & Steel. During the year, I availed service of Good transport Agency as input service. The freight of all the Consignment Notes was less that Rs 750. Total amount of Freight paid was Rs. 50000 during the year to one Goods Transport Agency. During Central Excise audit, The Superintendent of CE asked me to paid Service tax on Rs. 12500 i.e. 25% of 50000. He said that exemption of Rs. 750 has been withdrawn under reverse charge basis. I told him that he's not correct. But he is not agreeing on my explaination. He said that he will issue Show cause to me if i didn't apply for Service Tax reg. no. & pay the whole service tax.
Kindly tell me what alternative i have against this action of officer ? Can i appeal against his SCN ? Can i demand stay on deposit of demanded Tax ? if yes, plz guide.
Ajit
11 July 2012 at 13:08
In case some person has created or made documentary film and sold it to some Statutory Body or Institution at Rs 4 lacs. Whether it comes under the definition of Sales of Goods or Consultancy Services as the Statutory body is deducting TDS on Rs 4 lacs under section 194J?Whether TDS is applicable to such payment or not as we are saying that we have sold the documentary to you. Any case law in this regard………..
RD
11 July 2012 at 12:32
Kindly advice on the following:
1.A Private Limited Company had purchased a Factory (Land + Building) in the year 2002-03.
2.From that your onward it has claimed depreciation on the entire amount as it had not separated the value of land.
3.Now, in the current Financial Year – that is – in 2012-13 it has sold the aforesaid Factory.
4.Now the Question is whether the company can segregate the value of Land and Building from the sales consideration received and claim Capital Gain on Sale of Land as Long Term Capital Gain after taking the benefit of Indexation? The Company can have Valuation Report – both – at the time of Purchase as well as Sales.
5.And if it can do so as mentioned above, what would happen to the Depreciation allowed on the value which includes Land?
6.And Lastly will the Income Tax Department invoke Section 50 on the entire amount, as Depreciation has been allowed on the entire value of Factory, and would not allow the claim of Long Term Capital Gain on Sale of Land.
Kindly reply ASAP along with relevant Judicial Pronouncements.
Thanking in Advance
Member (Account Deleted)
10 July 2012 at 13:38
If the previous employer does not consider HRA while calculating TDS,can the assesse claim relief u/s 8o GG in his IT Return for the said year?If yes, if he has worked under two different employers in the same financial year and one has considered but the other one not, can he still claim the above relif?The section inter-alia stipulates that it will be applicable provided the employee is not getting HRA.
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