J B Goel
17 September 2011 at 11:04
I and my spouse purchased a Flat in Gurgaon 6 years back.The share of spouse money mainly came through as a gift from our NRI son.He further gifted substantial amount of gifts after tis purchase. The cost of the flat was Rs 40 lacs.We have 2 married daughters, who are also NRIs.There was a rift and though family settlment on stamp paper of Rs 100/, it was settlled that the ownership of Gurgaon Flat be passed on to our son and his spouse.The agreement is witnessed by our daughters and signed by us,son and his spouse.
We were getting a monthly rent of Rs 23000/.Pl confirm that Tenant and Income Tax Authority will consider rent income of my son and his spouse after the execution of this deed.As my kids are abroad, the settlement deed has not Civil Court Authorisation.Pl guide with Case History, if any.
J B GOEL
Anonymous
15 September 2011 at 23:23
Excess service tax is collected and deposited to goverment. Now client wants that excess payment back. What is the remedy? Also note , the client himself does not provide any taxable service.
Further how long this adjustment can be made?
saurabh
15 September 2011 at 16:54
whether member of commodity exchange held liable to pay sales tax when he act on behalf of his client?
prithwish sengupta
15 September 2011 at 10:01
is investment in any term deposit/ fixed deposit with any nationalised bank with a period of more than 5 years eligible for deduction u/s 80c?
or only specified fixed deposit or term deposit declared for exemption u/s 80c by nationalised banks are eligible for exemption u/s 80c??
KALAIKOVAN
14 September 2011 at 12:50
ST3 Half yearly Return (Late) is filed before the Notice received from the ST Department
Due date 25/04/2011 - Date of Filing 02/07/2011 - Notice Date 28/07/2011
a) Maximum Penalty amount is 2000 or 20000?
b) ST Officer says that the no. of days delayed should be calculated from Due date to Notice date even though the return is filed before the notice date.
c) In addition to that ST officer aks to pay Penalty Rs 10,000/- u/s 77. Pls advice
P K Rajesh
13 September 2011 at 23:18
Hi,
We have a property in Delhi owned by our mother which we are planning to sell. She plans to distribute the sales proceeds amongst us, her two sons, that is me and my brother. The cost of acquiring the house is Rs.35000/- in 1970 and the current market rate is Rs.40lacs.
1.What would be the capital gain?
2.Can she distribute entire sales proceed amongst us enabling us to invest in property in our name individually or jointly including my mother?
3.Or do we need to purchase a residential flat in her name alone?
regards
Rajesh with brother Anish
pankaj
12 September 2011 at 20:36
Dear sir,
my question is whether P.F. deduction is liability under Provident fund act or any other act on the part of company if employee's basic salary exceeds maximum ceiling limit of Rs. 6500 & employee does not want to make provident fund deduct from his salary.
for example:-
Employee basic- Rs. 7000
what responsibility on part of company if employee does not want to make his Provident fund deduct.whether should be deducted or not?
A.R.JOSHI
12 September 2011 at 15:21
The assessing officer wants to assess the food sales of hotels @ 5 times of administrative expns like wages, fuel etc instead of actual sales declared for the asst year 2008-09 and 2009-10. What is the basis. Any directions issued by the authority.Any case laws opposing the move.
AMARENDRA SUTAR
12 September 2011 at 12:39
WCT (work contract tax) is now solely under jurisdiction of Sales tax authority of the concerned state. WCT is applicable where work/composite supply is being executed i.e. contract consisting of supply & service both. Payer will have to deduct WCT and deposit the same in the local ST authority. Confusion is arising where an entrepreneur of different state entered in to an agreement for work.
1) Is the payer capable to deduct WCT when the contractor has not the VAT no in the state wherein the work is being executed though he has got the CST No?
2) What is the mechanism to tackle the transaction, I am from the state of Orissa?
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