Taxation queries [Resolved] [418]

Anonymous 02 February 2011 at 14:50

taxincome

ir,
A aided managment school in tamil nadu having eight management members sold for Rs.2 crores documented.
For 8 members it is divided.
School built up by their father in the year 1935 with periodic renovations etc.
The cost of property is not at all available in the wills etc.
What is the tax consequences and arrive at the tax liability of each party.
If anyother thing to be noted specially please inform.

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Anonymous 01 February 2011 at 17:27

incometax

Sir,
For Salary received in Arrears we can claim relief under sec.89 of the Income Tax Act.
Please help me giving the RELIEF CALCULATING SOFTWARE for Current Ass.year 2011-2012 with previous 7 years workings platform.
Please

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Anonymous 01 February 2011 at 11:37

Capital Gains Tax

I will be receiving 500 sq ft office (built up area) in a commercial building, which is being built by a builder on our ancestor's plot which is 50 years old. All other partners will also receive similar offices.

a) How do I calculate the Capital Gains Tax that I will have to pay ?
b) What would be the timeframe for paying it?
c) Is any other tax applicable in this scenario ?

Thanks and Regards

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NEERAJ GUPTA 31 January 2011 at 14:10

Section 144 & Section 147

In case assessment u/s 144 is set aside due to non service of mandatory notice u/s 143(2), whether the case u/s 147 can be reopened or sec 147 lies in such cases. please give some suitable case laws

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SUKHVIR HOUSING AGENCY 31 January 2011 at 13:54

TDS on NRI SELLING PROPERTY IN INDIA

Hi Tax Experts,
My NRI client purchased flat in 1991

1) If he need to Sell the flat will there be any Tax on the Capital Gains. If yes then how much %.

2) Can he avoid the Capital Gains by purchasing another flat?

3) Is is it required that the new flat be purchased after the selling of the previous property to avoid Tax?

4) What documents required to avoid TDS on selling property.

5) Is is mandatory for Buyer to deduct TDS from Consideration Value

Tax Experts your advice is higly solicited.

Thanks in Advance

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Anonymous 30 January 2011 at 21:34

service tax on service provided to election commission

Services of providing facility of mandap, mike, furniture and fixtures during the election time to the election commission, whether it is taxable service under the service category of mandap keeper or shamiana and pandal service

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javed ahmed 29 January 2011 at 17:25

form 16

if my employer refuses to issue me form 16 can i proceed against him in a court? do i need to issue him a notice?please advise me how to approach if my employer uses such malpractice.

regards,
john

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SANJIV BATRA 29 January 2011 at 15:35

CST APPLICABILITY ON BRANCH TRANSFERS

WE ARE MANUFACTURER OF T.V.AND OTHER ELECTRONIC GOODS. WE ALSO IMPORT ELECTRONIC COMPONENTS FOR USE IN OUR PRODUCTS. WE HAVE OUR ONE UNIT AT NOIDA. IF WE TRANSFER SOME ELECTRONIC COMPONENTS TO OUR NOIDA UNIT AGAINST FORM 'F', IS ANY CST LIABILITY ARISES ON THIS TRANSACTION OR NOT?

THANKS

SANJIV BATRA

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Anonymous 29 January 2011 at 13:20

Income tax caculatio

i am working in a company.
i also invest some money into the stock market.I have a nett loss of 50000 from the same. During tax calculation this amount will be deduct from my total yearly income or not.

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Anonymous 29 January 2011 at 09:51

Sale of parent's property on demise ?

My father had two flats in Mumbai and he died intestate without a will. We are now 5 legal heirs and want to sale the flats so that each gets his 20% share.

What will be tax implication on such sale and what happens if I invest my share in buying a flat and borrow from bank for the shortfall amount ? Awaiting your expert opinion.

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