Anonymous
07 April 2011 at 16:08
For eg.if an organisation releases a periodical.The printing cost of a paper be Rs.4. If the selling price be 6 or 7 rupees.. Should all the profit earned be diverted towards charity for tax exemption? Or can any part of it be used for further printing expenses? 'll that result in taxation? Also there won't be any salary or assets purchased by the members of the organisation with this money..
Anonymous
07 April 2011 at 15:29
REGARDING TDS ON WORKS CONTRACT U/S 194C WEF 01/10/2009, THE EXPRESSION “WORK” SHALL ALSO INCLUDE MANUFACTURING OR SUPPLYING A PRODUCT ACCORDING TO THE REQUIREMENT OR SPECIFICATION OF A CUSTOMER BY USING MATERIAL PURCHASED FROM SUCH CUSTOMER. HOWEVER IT WILL NOT INCLUDE MANUFACTURING & SUPPLYING A PRODUCT ACCORDING TO THE REQUIREMENT OR SPECIFICATION OF A CUSTOMER BY USING MATERIAL PURCHASED FROM A PERSON, OTHER THAN SUCH CUSTOMER.
WHAT WOULD BE SITUATION, IF MANUFACTURING & SUPPLYING A PRODUCT IS DONE ACCORDING TO THE REQUIREMENT OR SPECIFICATION OF A CUSTOMER BOTH BY USING MATERIAL PURCHASED FROM SUCH CUSTOMER AS WELL AS MATERIAL PURCHASED FROM A PERSON OTHER THAN SUCH CUSTOMER.
SOMNATH CHAKRABORTY
07 April 2011 at 13:53
My friend who is a US citizen and has VISA for 10 years to stay in India. He is presently living in Tamilnadu. He has been advised to submit an income tax return in India including his total income in USA + his Income in India.
According my friend :
His yearly income in USA is from the interest on Govt. bonds which is not taxable in USA.
AND
His total income in India is from the interest on Bank Fixed Deposits on which TDS has been remitted by bank to IT authorities.
Will my friend has to submit the details of his total yearly income in USA in his I.Tax return together with his income in India. According to him if he has to submit the details of his USA income then his total income (INDIA+USA) will be taxable.
What he should do?
Anonymous
06 April 2011 at 16:09
I have given residentail flat on rent , what type of taxes will come in play, rent is Rs 45000/
TDS, Service Tax, Municiaplity Tax, society charges at what rate to be levied ?
Anonymous
06 April 2011 at 16:02
A man Finance Two Wheeler from Finance Company but A delar cheat to Financer we not hypetthiction in Registration but also given Chaque given in fover to fianance company.
What can do by company for performance the agreement or recive back financed amount by Criminal action.
Anonymous
06 April 2011 at 14:25
Dear All
We remember that levy of service tax on ‘Rent’ was held ultra vires by Delhi High Court in case of Home Solution Retail India Ltd. Vs. UOI and others (2009) 20 STT 129. Union of India- who was the respondent in said judgment filed a SLP in Supreme Court, praying inter alia for stay of operation of Delhi High Court judgment. However, the Supreme Court did not stay the operation of Delhi High Court judgment, but issued notices to parties concerned to file their replies. During pendency of matter in Supreme Court, Revenue authorities instructed their field officers by way of Instructions dated 15thJuly 2009 to take necessary action to safeguard revenue by either pursuing the tax payer to pay up the service tax or resort to means under law. The Instructions issued on 15 July 2009 were challenged by SSIPL Retail Ltd. in a Writ petition filed before Delhi High Court who has taken strong objection to said Instructions and it was assured by Additional Solicitor General, appearing on behalf of the Union of India, that corrective steps will be taken to issue further instruction, in super session of earlier instructions, to not to demand service tax till such time Supreme Court decides the SLP.
We want one clarification that if it is applicable on the properties situated in other states.
Please resopond.
Kamal
06 April 2011 at 13:59
Dear Sir,
As per the F A 2011, the service tax is impossed on Legal Services also.
But whether the Service shall be applicable on Legal Consultancy only, because the Tax will be chagred on Apperarance in Court and tribunal.
Please advice.
SUJIT
06 April 2011 at 12:58
Hello,
My Father-In-Law has sold his Ansestor's property. The property was on his name at the time of deed. He has three daughters. After sale, he has divided the money earned into five and distributed equally among self, spouse and three daughters. My wife (his daughter) has deposited the money in her saving bank account. Now the time has come to pay the tax.
As the deed was done by him, he will be paying the tax against capital gain for the total amount. Please advice, whether my wife has to pay income tax for the money deposited in her account received as her share. How to avoid this double taxation? Please advice.
Regards,
Sujit
preet
05 April 2011 at 10:51
Hello,
In income tax if a person tax liability is more than Rs.5000/-, He is liable to Advance Tax. My quary is if he does not pay advance tax, what is its liability? Plz also mention under which section?
lawyerpreetkaur@gmail.com
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