Anonymous
05 November 2011 at 15:28
Hello everyone. I had received Reactification Notice from Income-Tax Department, Banglore. By studying that notice and computation prepared by me I found that there is mistake in Depreciation Chart. Just because of that there is mismatch in return. What reason should I mentioned for ractifying that mistake while uploading the return.
Dr Prashant Patil
05 November 2011 at 10:11
My self am Doctor Maharashtra Govt, Employed as Asst Prof, we receive Post graduate allowance and monthly research allowance in salary as per Govt GR.
Guide its exemption benifits under what rules.
Anonymous
04 November 2011 at 11:04
Dear Sir,
i'm thinking to open a "YOUTH PLUS" a/c in SOUTH INDIAN BANK. i want to know whether its a genuine bank or not. thanku
--sameer.
jyoti
03 November 2011 at 18:49
My greetings to all
Dear Sir,
A lot has already been said about Service tax and VAT applicable to Underconstrcution property but still I see a lot of different opinions stated.Thats why I am writing this question
I have booked and Registered a flat in Navi-Mumbai on 28 May 2010, which was certified as 80% complete by the builders architect at the time of booking. Initial payment of Rs. 50000 made on 20 April 2010 and then Rs. 500000(five lakhs )made in 24 June 2010. (( Thus Registration and payment of Rs. 550000 made before 1 July 2010 which is the date of Service tax applicability on underconstruction property))
Balance payment of Rs. 1470000 made on 5 August 2011 and Rs. 112000 made on 19 April 2011.Balance only 1 lakh remaining to be paid by my bank, which will be done only after the building gets an OC.
Now my builder has now issued me a letter stating that I need to pay Rs. 52000 as Service tax and Rs. 31000 as VAT. He has asked also asked to pay the balance amount of Rs. 1 lakhs from my bank as the project is complete as OC is received for the building.
My questions-
1) Will I have to pay the taxes as my property was registered before 1 July 2010 and 80% was certified as complete at that time.
2)How will the service tax and VAT claculated in my instance? as I had already paid Rs. 550000 before 1 july,2010.
3)Can the builder collect servive tax / VAT as I heard that there is a stay on servive tax from high court.
3) Also I found recently that my builder has sold me and which is mentioned in my sale agreement as ''other saleable are'' 28 sq ft behind the toilet which has no access to it and is fully covered by walls. Where should I approach to complain against the builder for selling non-accessable area??
Jyoti Sharma
Anonymous
03 November 2011 at 17:54
My employer is a construction company and employees are provided with rent free accommodation temporarily at the construction site. Against this, 7.5% of salary is considered as perk value and Tax deducted from the salary.
Q-1 As per Income Tax Act, Perk value are not considered where the accommodation is provided at construction site. Our project is a power plant site.
Q-2 The area of temporary accommodation provided to employees falls in Emergency Planning Zone (of AERB Regulations) where no habitation is allowed.There is no any other facilities available in the area even though the postal address falls in a Municipal Area.The total population in a nearby settlement is approx. 1000 nos.
Q-3, In such case, any exemption available in perk value for the temporary accommodation provided in a construction site / no mans zone?
Anonymous
03 November 2011 at 14:54
Hi,
I am planning to start a hotel registered in my wife's name.She is a house wife.
I would like to know what are different kinds of taxes which are required to be paid during the operation of hotel. Kindly give details on the income tax structure and exemption for hotel businesses and what are different ways of saving the tax.
rgds,
Gayan
Anonymous
03 November 2011 at 11:44
Dear Expert,
We have a trust for which we applied for 12AA registration,
DGIT(Exemption) reject the same on the ground of Genuineness of activities.
we received the order for rejection
Advice us regarding remedies available to us after rejection.
Thanks in advance
Ramasamy
02 November 2011 at 23:17
Dear Sir,
My Friend wants to buy a car in TamilNadu and do registration in B'lore.
In Karnataka State, there was an Entry Tax for Cars bought from other states
This Entry Tax has been removed by Supreme Court ruling recently.
My Friend want to confirm whether this is in effect now (no Entry Tax in Karnataka State).
Can you pls. check and confirm it?
Anonymous
02 November 2011 at 20:24
What address to be given for Service tax registration for which registration is sought :Address of Assessee or Adress of Place wherefrom Servies is being provided
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One or more bank accounts.
is there any problem opening two or more bank accounts?