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.
Member (Account Deleted)
10 July 2012 at 13:30
Inspit of submitting Form 15G with a nationalised bank for 2011-12, the bank has deducted TDS against F.D. The said declaration was sent to the bank by speed post/courier service.The Assesseee is a house-wife and she falls within the exempted category for filing the IT Return.Her total income from interest on securities exceed Rs. 10,000/-.Can she file refund claim from the ITO of her TDS deposited by the bank?If so,what is the procedure?
subhash bajpai
10 July 2012 at 10:44
Sir,I am a member of Housing Society and invested Rs. 1 lac in 1999 and Society was made for providing houses to its members as per the deed of society. Society had purchased a piece of land but due to some reasons could not constructed houses on that land. Now due of some govt. norms Society is selling its land and paying 25 lacs as compensation against land advance made by me. My question is whether receipt will be considered as Capital Gain or income from other sources?
pls help.
Pulkit
09 July 2012 at 21:36
SIR,
IF A PERSON SELLS HIS PARENTAL PROPERTY WITHOUT GETTING THE PROPERTY INTO HIS NAME, WILL IT BE A CASE OF CAPITAL GAIN OR OTHER SOURCES?
Sanjay Dhavane
08 July 2012 at 12:09
My client effected sale of Plant & M/c to foreigh buyer in F.Y.2006-07. The said foreigh buyer done payment in foreigh currency in said financial year. The said goods was physically exported out side India in F.Y.2008-09 due to other paper works. Can my client's cliam of export allowable in F.Y.2006-07? Kindly give expert comments of said transation.
Bharat Arora
07 July 2012 at 18:27
Dear Sir guide me If one have resigned from a company in Fy 2010-11 and got his FFS & PPF in FY 2011-12 due some delay at employee end then my question are:
1. form 16 will be issued for 2011-12 or not
2. if issued under what section and provisions
3. time line for issuing the same if issued.
4. penal at employer end under IT act if any for not issuing the same
regards
Bharat Arora
GAURAV
07 July 2012 at 18:09
Dear Sir,
I have one acre Agricultural land and want to enter into a collaboration agreement with an developer for group housing who will develop the project at his own cost. 30% flats will be mine and 70% will be of developer. Market value of my land is about one crore and Circle rate is 20 lakh.
My query is:-
1. If I sell this land to developer in one crore, I think no income tax will be payable by me being Agricultural land.
2. But if I sell the Flats of my share having amount 2 crore then that income will be taxable or not.
3. If Taxable how much tax will be payable?
4. Which option is beneficial?
Member (Account Deleted)
07 July 2012 at 16:57
Are the practising C.A/C.S./Lawyers exemted from paying service tax?
Dr G V Rao
07 July 2012 at 08:57
Sirs, D
1. Do the earnings of medicolegal experts in form of consultation fees from clients attract taxes. Do they have to file IT returns.
2. Do the experts have to register an web based online consultation work as a firm or can they be called as 'self employed'.
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Capital gain taxation
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