P M Mehta
21 December 2011 at 12:26
Have received SCN for non-filing of ER7(Annual Capacity).
Is there a time limit for issue of such notice?
joydeep chatterjee
20 December 2011 at 17:23
sir,
we have sold our ground floor in kolkata and received 1500000 rs which we got in three separate DD of 500000/- each for me,my mother and my brother.now I will be investing my 500000/- for purchasing a new flat.but my mother and brother wont invest and gift it to me.Our father died in 2001 december and from that time we have inherited the property.my father purchased the property in 1988 for rs. 33,000/- only.
Now my question is how much capital gain tax my mother & brother has to pay?will it be calculated from 1988 or 2001?please tell me in detail.
Thanking you.
joydeep chatterjee
20 December 2011 at 15:04
SIR,
IN THIS DECEMBER I HAVE SOLD MY GROUND FLOOR AND RECEIVED THE SALE PROCEEDS.NOW I WANT TO UTILIZE THE WHOLE AMOUNT FOR PURCHASING A NEW FLAT.I KNOW FOR THAT PURPOSE I CAN OPEN A CAPITAL GAIN A/C AND DEPOSIT THE MONEY.BUT IF I KEEP THE AMOUNT IN MY NORMAL SAVINGS A/C BUT FOR THE PURPOSE OF BUYING THE FLAT. WILL I BE TAXED FOR CAPITAL GAIN?IF NOT FOR HOW MANY DAYS I CAN KEEP THE AMOUNT IN MY NORMAL SAVINGS A/C?IF I HAVE TO OPEN CAPITAL GAIN SAVINGS A/C,CAN I ISSUE CHEQUE TO THE DEVELOPER FROM THIS A/C? THIS IS ALSO TO INFORM YOU THAT, MY MOTHER AND BROTHER GAVE ME THEIR SALE PROCEEDS THROUGH TWO SEPARATE GIFT DEEDS.NOW THESE GIFTED AMOUNT WILL BE TAXED OR NOT?
THANK YOU
Anonymous
19 December 2011 at 17:01
wheter tds is applicable to cable operator or ditributor?
Anonymous
19 December 2011 at 13:43
guide income tax on capital arising from inhritent agricaltue property.
I do not know the agricalture land in muncipal limit or not
it is inherited agricalture land . under which sec of income tax it is exempted
Anonymous
18 December 2011 at 19:57
How can one become a good in taxation practice of direct and indirect taxes? is there any theoretical course or license required for this? or practicing with advocate or chartered accountant for 3 or 4 years is enough way to get command over it. presently i m doing my b.com prof.2nd year. please suggest me as i wanted to make my career in tax practices...
Rajesh arya
18 December 2011 at 19:45
Dear All
I worked in a private ltd. construction company. They misuse my PAN No.in their TDS return for Assessment Year - 2008-09.
They shows diff. payment appx. to Rs. 9.90 lac as per 26 AS Tax Credit Statement.
Due to this I have received a series of notices from time to time from Income tax deptt.and i am continuously replying their all notices that I have never received any single paisa from my last employer as shown in 26 AS Statement in account of Contracting Business. For this i had already submit my copy of income tax return,all Bank A/c Statements and also a avidafit about the same. But Still I.Tax Deptt. Saying that Its your responsibility to prove that you are innocence. Go to your last employer and get a letter from them that they had never gives you these type of payments. Telephonically, I talked to my last employer , he is not ready to gives me any this type of letter.
So please guide me further rights which i have to prove me innocence. as also i am working with a new firm outside NCR so it is not possible for me to take leaves for various time.
Please Someone help .....
For any further info. Anyone can give me a call on 9711800217.
Thanks
Anonymous
18 December 2011 at 12:04
Mr. X has one flat in his own name. Mr.X now purchased two separate flat- one for his adult son and other for his married daughter .Second flat was registered in jointly i.e. in his name and his daughter name.
advise me how to calculate tax?
if in future daughter will divorce his husband , then what will do ?
Adult son has no income tax return.
PARTHA SARATHI GHOSH
18 December 2011 at 11:07
IS PURCHASE TAX CAN BE ADJUSTED AS PER WB VAT RULE? IN ANDHRA PRADESH AND KERALA IT CABE ADJUSTED,HOW?
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Agricutural land transferred to company
Dear Sir,
Fact of the Case:
A Director of Company has some agricultural land in his name situated within 8 Kms of municipal corporation and Director has given such agricultural land to the Company for use of commercial activity and recovered rent from the company.
After 10-11 years, such land acquired by the Company on the basis of registered agreement i.e. without registry, consideration price was taken by the Company at circle rate of agricultural land prevailing at that time.
Accordingly, Director has paid capital gains on the basis of circle rate of agricultural land.
AO is in opinion that such land is used for commercial purposes for more than 10 years, accordingly AO adopted circle rate of commercial land and calculated capital gains.
Is AO legally right or not, pls advice at the earliest.
Regards