akash
29 September 2010 at 13:10
Respected Sir/Madam,
we have a huf file.we are three members of huf,myself,mother and elder sister(not married). myself(akash jindal) is the karta of huf.there is one land in the name of my mother(sharmila jindal)which we purchased 5 years back and showed in the Huf file.the land is shown as assets in huf file.
now my mother wants to gift half of the land to me being her son.the value of land is above 25 lacs. i have my own income tax file and wants to receive the land and show it in my individual file.also my sister is ready to give n.o.c. to this effect.
the question arises whether she is allowed to gift the huf property to me as an seperate assessee.what could be the tax liabilities and whether this will be treated as partition of huf.
which act and sections covers the above mater.
thanking you
Anonymous
28 September 2010 at 22:29
Sir,
I have pan card on which i have been filling the return for last six years, now I have been told by ITO that same PAN is also alloted to some one else having same name in another city. Now neither my return is proccessed nor they giving refund. Now I apply for new pan but they refused to refund the tds which was deducted on my previous PAN. please guide me what should i do.its URGENT
amiya kumar pradhan
28 September 2010 at 15:50
We are an Indian subsidiary Pvt Ltd company .Our Parent/Holding company is based in Malaysia. Our Parent Co desires to charge Management Consultancy Fee towards imparting knowledge etc. Can the Parent Co do So ? If yes then what will be the tax implication on the Subsidiary company (us). Please advise
Vijay Kumar
28 September 2010 at 14:08
I need to know, whether the partner of a firm has to mandatorily e file his individual return, if such firm is under audit u/s 44AB.
Please reply soon, !its urgent...!
Anonymous
27 September 2010 at 22:26
Income from salary head is not allowable to set off against the loss in income from business of trading(viz.potato trade)
Remuneration/ salary to a MP/MLA assessed to income tax under other sources head.
Generally loss on business head income will be set off against the income of other sources income (viz.interest).
My query is that whether the remuneration of MP/MLA (other sources head income ) will be set off against the loss on business head income.
Need the answer urgently. Anybody can help me.
G
Anonymous
27 September 2010 at 08:16
Whether there will ve extension in due date of filing audit report?
Anonymous
26 September 2010 at 20:12
A proprietory firm is wholesaler of cloth.During the year proprietor has done intraday trading,options and futures trading,some deliverybased trading.No accounts are prepared relating to shares transactions and proprietor is maintaining records on basis of stockbroker statements.Proprietor is seeking advice regarding any penalty implications relating to non maintenance of accounts relating to share business and how to avoid it like how to account for?
Also plz explain
how intraday trading,deliverybasedtrading,derivativetrading will be reflected in books>LIKE net profit will be shown.PLZZZZZ answer its really very urgent.
Anonymous
25 September 2010 at 23:22
I was working in Hyderabad in the F.Y. 2007 - 08 and My Family was residing at Ghaziabad. I was a resident of Ghaziabad and filing return of Income in Ghaziabad. In December 2007, I came to Ghaziabad and submitted my return of income for the A.Y. 2007 - 2008 on Saral Form as Saral Form was accepted by Income Tax Department due to stay by Allahabad High Court. After that, I returned back to Hyderabad. Later on, Supreme court vacated the stay of Allahabad High Court and insisted on resubmission of return on new form upto 28.02.2008. I was at Hyderabad and could not submitted return upto 28.02.2008 on new form for A.Y. 2007 - 2008 but later on I submitted return of income for A.Y. 2007 - 2008 on new form on 24.03.2009 which was proccessed u/s 143(1)as informed by income tax assistant but refund order was not issued to me. I argue that return of income submitted on 14.12.2007 was treated as cancelled by the department as I could not submit return on new form upto 28.02.2008. Therefore, Income tax deparment should treat return of income submitted on 24.03.2009 as belated return and issue refund voucher of Rs. 35,000/= but the income tax officer is not treating return submitted on 24.03.2009 as belated return stating that you had submitted return on 14.12.2007 which was cancelled and now you are not eligible to file belated return. I want to know whether return of income submitted by me on 24.03.2009 is belated return?
Ramesh
25 September 2010 at 22:32
Hi,
Just wanted to understand if rebate from tax for Rs 5,00,000/- is provided under 10(C) for people who have opted for exit policy option.
Thanks
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