Ravi Mishra
19 February 2012 at 22:08
Kindly advise on the following;
Parental property acquired by father some time in 1972-73.
Said property was sold & 1/8 share i.e Rs.1.75 lac received by one of the heirs.
Kindly advise tax liability on Rs.1.75 during 2011-12.
Sathish
19 February 2012 at 20:10
Hi,
What are all the beenfit we can avail if we register under STPI or duty credit scrip
What is the difference between both?
Regards
Sathish
sunil rajpal
19 February 2012 at 10:18
Kindly explian IT Law relating to deduction to be claimed for interest on loan and paying principal amount of loan for purchasing built up property.
lina abood
19 February 2012 at 03:25
DEAR SIR,
THANK YOU VERY MUCH FOR ALL THE SUPPORT AND INFORMATION PROVIDED TO ME REGARDING THE ABOVE MATTER SPECIALLY MR.VISHAL AND MR. VINEET.
BUT IT SEEMS MY PROBLEM DOESNT WANT TO GET OVER.
SIR.
I HAD TAKEN ALL YOUR ADVICE AND REFERNCE TO MY C.A.AND FINALLY HE HAS AGREED THAT I CAN GET CAPITAL GAIN EXEPMTION WHEN I INVEST THE FUND IN ANOTHER RESIDENTIAL HOUSE BUT WE ARE GOING TO FACE ANOTHER PROBLEM i.e
I HAVE NEVER SHOWN THE RETURN OF MY ABROAD FLAT IN THE PREVIOUS YEAR, I USE TO DECLARE ONLY MY PROPERTY IN INDIA AND ACCORDINGLY IN MARCH 2010 WHEN I SOLD A COMMERCIAL OFFICE I HAVE GOT CAPITAL GAIN EXEMPTION UNDER THE SECTION 54F BY INVESTING THE AMOUNT IN BUYING NEW FLAT.
IN THIS CASE WHAT REMEDY IS THERE THAT YOU CAN PROVIDE FOR MY PROBLEM
PLEASE ADVICE
THANKS TO ALL
JEGADEESAN
18 February 2012 at 20:16
Sir,
Could you please send theCentral Excise Code for the following Items & also its raw material
Sim Card
Card Reader
Smart Cards & Chip Module
Plastic Card Body
S.Jegadeesan
N
18 February 2012 at 15:51
Hi,
Can you please help me with the following questions
1. Can HUF open Saving account? Since Many Bank say that HUF can only open Current Account.
2. What all documents are required for opening of HUF Bank account?
3. If the nearest branch is not ready to open an HUF Account then can we open in nearest branch Bank account in Karta Name (individual account) and then on monthly basis transfer the funds to the HUF Account in bank where there is HUF account (which could be at a distance)? This is only for conviniance of daily transactions.
4. If point 3 can be done.. will there be any tax liability for such a transfer? Or can we assume that the 100% of the individual account is taxed as HUF in perview of Diversion of funds and not application of funds?
5.Once HUF is assessed for its income, can the accumulated funds in HUF bank account be used for the day to day expenses of the members of HUF? By this I do not mean deduction from income of HUF... I mean application of funds by HUF for the day to day expenses of the members of HUF?
6. Please also help with tips of dos and donts of HUF funds.
Thanks for the help!
Thanks & Regards,
Madhav
18 February 2012 at 14:52
I find that one 100%EOU unit has imported machinery without any duty. On these machines they are producing material and selling it in DTA market. Is this allowed? or this is evasion of duty.
Please advise.
RD
18 February 2012 at 11:04
Plz answer the following Query:
A & B being co-owners of a residential property sold the same and acquired 2 properties – both properties being owned jointly by the co-owners. (50%-50%) Now, they have claimed in their return of Income – exemption u/s 54 for both the properties – to the extent of 50% in each of the property. So, return of income is showing that one person has claimed exemption in respect of 2 properties – 50% for both the properties - which is against the language used in section 54 – that is – “a residential house” and hence the claim has not been allowed fully in the scrutiny assessment. Stand of the assessee is that in between them they have claimed exemption for 2 properties – so one can say – one property for one assessee and hence the claim should be allowed.
Kindly opine and also give judgment if available.
Plz reply ASAP.
Thanking in Advance
Sandesh
17 February 2012 at 15:14
Dear Sir/Madam,
My client registered for VAT in Maharashtra has a customer in Tamilnadu to whom he had supplied material by purchasing in Tamilnadu itself. Thus the vendor had charged local TNVAT in the bills. My client while raising bills on his customer has billed an amount inclusive of taxes as he is not registered in Tamilnadu.
The sales tax consultant has advised to pay Maharashtra VAT on the said sales.
I do not think this treatment as correct. As per consultant's contention no C-form is collected so there cannot be CST and hence MVAT has to be charged. Also the client will have to loose on TNVAT credit.
As per what I found out my client should register with Tamilnadu. But the consultant says registration should be before the sales were effected or when sales exceeded the limit for registration as per TNVAT laws. But he cannot register after the sales are effected and claim TNVAT credit.
These transactions were effected in Oct, Nov and Dec 2011.
Please provide a remedy on the same, so that my client does not loose the TNVAT credit?
Regards,
Sandesh.
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Liability of service tax on rent income derived from lease premise
Dear Sir/Madam,
Please let me know about the Service Tax Liability upon receipt of over and above limit Rent income received from Lease base premises to a corporate banking. Is it on shoulder of the owenr, statutorily ? How and on what slab the same is required to be mitigate ? Please guide along with some IMP Decision of apex court on the same. Thanking you,
Regards,
Hetalkumar Hindocha