hemant t gawale
26 January 2012 at 11:08
ENHANCED COMPENSTION RECED F. Y. 2000-01 FROM SESSION COURT. MATTER DISPUTED TILL
F Y 2010-11 BY SUPREME COURT.
THE REASSESSEMENT WAS MADE AFTER SUPREME COURTS DECISION
WHETHER INTEREST U/S 234 b & 234 c WAS LEVIED BY ITO HWETHER IT IS JUSTFIABLE
IS THERE ANY CASE LAW FOR WAIVER OF INTEREST
HEMANT
lina abood
26 January 2012 at 08:15
DEAR EXPERTS,
NRI HAS BOUGHT SHARE IN INDIA WHEN HIS STATUS WAS ORDNERY RESIDENT (LONG TERM INVESTMENT),NOW HE HAS DECIDED TO SELL THIS SHARE,SO THE INQUIRY ARE:
1- DOSE HE HAS TO PAY TAX ON THE GAIN TO INDIAN GOVERMENT?HOW MUCH?
2-CAN HE DEPOSIT THE ENTIRE AMOUNT IN HIS NRI ACCOUNT?
3-CAN HE TRANSFER THAT MONEY TO ANOTHER COUNTRY WERE HE IS WORKING NOW (USA)?
4-IN CASE HE CAN TRANFER THE MONEY TO USA IS THIS MONEY GOING TO BE UNDER TAX BY USA GOVERMENT
WAITING FOR YOUR REPLY
THANK YOU ALL
lina abood
26 January 2012 at 08:00
DEAR EXPERTS,
CAN FATHER WHO IS LIVING IN INDIA TRANFER TO HIS SON WHO IS LIVING IN USA (NRI) GIFT?
IN CASE THE REPLY IS YES ,THEN DOSE THE SON HAS TO PAY TAX ON THIS AMOUNT TO USA GOVERMENT ?
WAITING FOR YOUR ADVICE
TAHNK YOU ALL
Anonymous
25 January 2012 at 21:14
My Question is, can a working lady borrow money from her husband for
buying a home without interest or at 0.5% or less? Is any limit of
time for repayment? please tell what formalities are required to take
loan from husband.
Anonymous
25 January 2012 at 15:30
Hello R/All,
Q.Bank of my client had deducted TDS but deucted tax has not seen 26 AS online.Can i file return based on 16A issued by bank,Which is better option online filling or manually for easy refund?
Thanx..
Anonymous
25 January 2012 at 09:40
Hello to All CA's And Tax Experts.
Thanks in advance foe solving my problem.
My problem is:-
Company recived a intimation u/s 143(1)/154 . according to intimation that we does't mention the date of filing of previous year return filed in CFL schedule. Now we rectified the error. But we are confused that either we efile revised return or rectified under section 154 CPC rectification module or both. CPC Banglore mentioned in the intimation that we should rectify our error by CPC module u/s 154. even than can we rectify our error by revised return. one more question, when we file rectification by cpc module u/s 154 then we can channge the date of filing, and change of filing u/s,change of intrest amount. because we still ddi't paid tax amount..which is still payble. and on what period we should calculate tax u/s 234A,234b,234c
lina abood
24 January 2012 at 23:52
DEAR EXPERTS
I NEED YOUR ADVICE ABOUT MY CASE WHICH I HAD ALREDY POSTED EARLIER BUT SINCE I DIDNT GET RESPONCE I HAD DECIDED TO TAKE YOUR ADVICE
FORIGNER WEMAN MARREIED TO INDIAN LAST 22 YEARS SHE HAS MADE INDIA HER HOME ,HER STATUS RESIDENT PROBLEM COME FROM SOME PROPERTY GIFTED TO HER BY HER FAMILY SHE HAD BROUGHT FLAT AND FORGOT ABOUT IT,
NOW DECIDED TO SELL THAT PROPERTY AND BRING THE CASH TO INDIA
AND IT JUST HAPPEN THE FLAT GOT SOLD AND THE MONEY GOT TRANSFER BY LEGEL ROUTE TO HER ACCOUNT IN INDIA ,
NOW HER C.A. TELLING THAT SHE HAS TO PAY CAPITAL GAIN TAX ON THE ENTIRE AMOUNT SHE HAD TRANSFER.
SHE HAD BOUGHT THE PROPERTY IN DEC.1990
PLEASE GIVE YOUR ADVICE AND SUGGESTION ON THIS MATTER
THANK YOU ALL,
Anonymous
24 January 2012 at 21:38
If notice is send under IPC Act and Income Tax act against an assessee,and such notice are conflicting in nature , which shall apply?
Kuldeep
24 January 2012 at 19:43
Restaurant service & accomodation service are made liable to tax from 1.5.11. Notification No 1/2006 exempts 70% / 50% of amount received from tax. Condition is that the assessee should not avail cenvat credit and should not avail benefit of Noti 12/2003.
Notification No 6/2005 (small scale exemption) exempts gross amount charged towards taxable service upto first Rs. 10 lakh. The value of "Wholly" exempt service is to be excluded from Rs. 10 lakh (Explanation B of Notification 6/2005). In case of hotels / restaurants, the exemption is partial. (50% & 70%). Question is : For calculating exemption of Rs. 10 lakh, whether 30% or 50% as the case may be should be taken or full amount should be taken? Example : Restaurant sale amount : Rs. 14,00,000/- Working 1 : 14,00,000 X 30% = 4,20,000/ - It is less than Rs. 10 lakh so no service tax. Working 2 : 14,00,000 – 10,00,000 = 4,00,000 is liable. 4,00,000 X 30% = 1,20,000 taxable. Service tax 1,20,000 X 10.3% = 12,360. Which is correct ? Dept. stand is working 2.
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Conflicting notices under indian laws
Under IPC , the advise to do something has been received , thereafter an advise to do something under Income Tax Act is received which is opposite to IPC 's advise received earlier. Both the advises are not time- bound ,can be given at the same time. Which advise shall be applicable , prime ?