Member (Account Deleted)
03 March 2012 at 16:23
To
Shri A V Vishal
Thank you so much for a detailed reply !
Mine are ancestral agricultural small pieces of land(which now fall in residential category because of also being used for making houses)
These lands are being sold separately at different intervals for small amounts.1st one being 30th Dec 2010.I received the amount in May 2011(Sent by the person who's got power of attorney)
1.Do I have time to invest the amount till Dec 2012 ?
2.Do I have to show the amount in this year's Returns ?
Thank you !
krishna mohan
03 March 2012 at 01:41
IN ANDHRA PRADESH ALL THE DEALERS ARE SUPPLYING E1 FORMS WHICH ARE PRE PRINTED IN STATIONERY SHOPS AND GETTING THEM SEALED BY CONCERNED CTOs. wHERE AS IN KARNATAKA E1 FORMS ARE GOVERNMENT PRINTED. IF WE SUBMIT ANDHRA PRADESH E1 FORMS IN KARNATAKA STATE DURING THE COURSE OF ASSESSMENT, KVAT AUTHORITIES ARE QUESTIONING THE GENUINETY OF THE E1 FORMS. HOW WE CAN CLARIFY THE GENUINETY OF OUR A.P.E1 FORMS.
Pravin Thorat
02 March 2012 at 17:06
We have entered in to agreement with Builder in May-2010 for purchase of under construction house property at New Mumbaifor personal use.
Now our builde demends to pay service tax @ 2.575% on payments made after 1.7.2010.
I have read circular no. 151/2/2012-ST Dt. 10.02.12 and also a clarification given by taxindiaonline dt. 13.02.12 on service tax on construction service. ( By G. Natarajan, Advocate, Swamy associates)
In that circular & clarification by CBEC, there is no liability to pay service tax on purchase of under construction house property if it is purchase for personal use.
So whether we are liable to pay service tax to builder or not?
Karan Gaur
02 March 2012 at 17:03
Company A made inter state purchase in financial year 2008-09 and not issued 'C' form.
Can it issue Form 'C' in financial year 2011-12.
Member (Account Deleted)
01 March 2012 at 20:14
Till what time one can keep money to re-invest in property to avoid capitol gains tax ?
Thank you !
AJOY KR. MUKHERJEE
01 March 2012 at 17:34
we filed an appeal before the deputy / joit commissioner, commercial taxes, kolkata south circle, west bengal in the year 2008. appeal hearing fixed on 30.04.2008 order is also made on this day but due to departmental problem we are not received the appeal order till date. but we received a demand notice in respective form asking to deposit the sales tax amount within 30.03.2012 the demand notice signed by concerned officer on 19.02.2012. now how can we get the appeal order if we filled an application on to day is there is any system to get the order after a long period. please help.
thanking you
Nookala Subrahmanyam
01 March 2012 at 00:37
We are manufacturing of paper and paper products under the chapter heading No. 4802. We are exporting our goods form our manufacturing premises ( we have MLU). Our goods are being expoting through containers and some times in individual packages through trucks. In such cases the containers are sealing and certifying by the Central Excise Officers in our factory premises, sealing is done by one time bottle seal,etc.,
Our question is that whether we have to provide the vehicle to the Range officer and the inspector to come and conduct the examination, sealing and certification of the goods. Recently we have been takenover by the MNC. Hence, the management is objecting to provide vehicles to officers. Is there any company in India that they are not providing the Vehicle, conveyance to the officers. Please clarify.
Our manufacturing units are faraway to the range office 5 and 15 kms.
CA Rakhi Govil
29 February 2012 at 16:31
Hello Experts...
1) Assessee entered into collaboration agreement with a builder in which it is agreed that power of attorny(irrecovable) will be given to the builder for taking permission/approvals from various govt. authorities for this construction.Assessee is here receiving Rs. 60 Lacs a refundable security deposit(as fiven in the collaboration agreement).Whether this amount be liable for any tax liability?
2)Further, It was decided in the collaboration agreement that after completion of the project, Newly constructed property will be devided between assessee and builder in the ratio of 55:45.Here builder is free to sell his part(i.e.45 % of the total construction).Will there be any tax liability in this condition when assessee is transfering 45% of the property as cost of construction(in kind) instead of cash payment?.Will Rs. 60 Lacs attract any tax liability now which was given earlier?There is no intention of assessee to give back this amount to builder.
Please guide me.....
Sathish
29 February 2012 at 10:32
Hi,
Whats is the Income tax and dividend tax rate from 1995-96 to 2011-12
Regards
Sathish
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Vat / service tax for property under construction
I have booked a flat on 27th August 2009.My property is under construction and the possession is due by April 2012.
The agreement value of the property is of 15.65 Lac. and total cost is 17.47 lac
stamp duty done on : 23/11/2009
registration done on: 26/11/2009
I made the payment in below schedule
self contribution
51,000 on 27/08/2009 (booking)
1,82,000 on 15/09/2009
1,14,000 on 30/09/2009
-----------------------
3,47,000 total self contribution
Loan amount
4,97,000 on 28/11/2009
2,38,000 on 20/02/2010
1,00,000 on 30/05/2010
1,00,000 on 31/12/2010
1,00,000 on 29/09/2011
----------------------
10,35,000 paid with loan amount
3,65,000 is pending
I came to know that there is no SERVICE tax liability since flat booked well before service tax notification in july 2010 after budget.
http://taxguru.in/service-tax/book-under-construction-flat-before-july-2010-to-avoid-3-30-service-tax-on-agreement-
value.html
Now my builder says that I need to pay 15,650/- for VAT and
40,690/- for Service tax
Do I need to pay any VAT/SERVICE CHARGES, need your expert advice
thnx