Anonymous
24 December 2010 at 12:41
Gd Mrg..
R sirs my querry is my client had proprietorship business but he was die on 02-03-2010 His single major son want to file incom tax return of F Y 2008-09,2009-10.
Q.Can son sign on it?
Q.Procedure of Transfer Balance Sheet data to Son a/c?
Thanx..
Anonymous
23 December 2010 at 21:59
NEED HELP TO FORM AN AOP FOR SOCIAL PURPOSE ON A NON PROFIT BASIS, TO RUN AN AMBULANCE, AND OTHER SOCIAL NON PROFIT ACTIVITIES.
prithwish sengupta
23 December 2010 at 11:53
1) can a person take a loan / deposit through
core banking system (c.b.s.)??
2) will it attract section 269ss if a person directly deposit cash into assesse's bank a/c as loan or deposit??
3) can a person make a payment of loan/ deposit through cash in cbs system and whether it attaract section 269T??
please refer decided case laws if any
thanking you.
Anonymous
22 December 2010 at 18:03
whether credit for vat paid on capital goods under mvat is allowed or not?
Anonymous
22 December 2010 at 13:13
Please tell me
At the time of winding up of a family trust it distribute its property to its beneficiaries will attract ant tax in the hand of trust
NITIN PUROHIT
21 December 2010 at 20:09
Dear Mr. Vijayan first make a gift deed for tha same property. in that case sec. 41 (1) WOULD NOT BE ATTRACTED. if IT is transferred within 1 year as the son received it IN THAT CASE the short term capital gain would be attracted instead of long term capital gain. cost of acquision would be zero in the hands of son. So calculate the tax as per long term and short term in both conditions.
Sri Vijayan.A
20 December 2010 at 23:02
Father bought a property for Rs.1 Lac and after 5 FY, settled the same to his son in Dec 2010 (No cost involved).
Now, the son wants to sell the same for Rs.9 Lacs.
What will be the implication in view of capital gain in these transactions?
Thank u
Probir Kumar Dhar
19 December 2010 at 19:14
Dear Sirs,
On 13.12.2010 I had paid Rs. 75000.00 towards income Tax through my bankers. Said tax was duly remitted by my bank to the Income Tax authorities / NSDL.It had been clearly mentioned by me in the challan that the tax pertained to the assessment year 2011-12 But two major errors occurred in the process.
In the first place, instead of mentioning the payment as an ADVANCE TAX in the challan, it was through oversight mentioned by me that it represented SELF ASSESSMENT TAX. This was a mistake on my part.
However, in the second place, my bank had mentioned in the challan and other payment documents that the tax pertained to the assessment year 2010-11. Since my full tax for the assessment year 2010-11 (F.E. 2009-10)had already been paid earlier within the stipulated time and I had already filed my tax return also within time (i.e. 31.07.2010), the question of the tax being pertainining to the assessment year 2010-11 (F.E. 2009-10)did not arise.
Upon taking up with my bankers for this error, I was informed by them that the online system was not accepting the details that the tax pertained to the assessment year 2011-12 and hence they had entered the same as pertaining to the assessment year 2010-11
My question is what now I am suppossed to do to get this error rectified in the records of the IT authorities? I have already written to the ITO of my ward to treat this payment as advance tax for the A.Y.2011-12 and to ignore what had been wrongly mentioned by my bank while making the payment. But I am not sure how they will respond.
Further, can any complaint to the Higher authorities of my bank help as, in case their online system was not accepting the A.Y. as 2011-12, they should have got back to me over phone or letter to clarify the matter, when I would have got the opportunity to get the matter rectified before remitting the actual payment? In what manner can this help me?
PLEASE guide me on all the above issues.
PROBIR KUMAR DHAR
AL 69 SALT LAKE,SECTOR II
KOLKATA 700091
Baranidharan S
19 December 2010 at 15:26
Hi !
In advance thanks for your support.
My mother got some lump-sum amount as her part of GPF. And she "gifted" a part of her GPF amount to my brother who is working in Defence.
My query is that gifted amount taxable?
Please clarify regarding the above.
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Law
Dear Members,
I m a practising CA and now i wish to pursue my career in Direct tax . So i want to pursue a course in law. I m from bangalore. It would be gud if i can get members valuable guidance in this regard.
Thanks in advance
Tejashwini