M.V.GIRI
12 April 2010 at 11:47
The VAT audit report to be filed within 31-12-2009. But it was filed on 31-3-2010. The jurisdictional vat officer has issued notice to pay the penalty of Rs.5000/- for delay in filing the audit report and also penalty of Rs.50/- per day to the date of filing for the said offence.Is it not double punishment for the same offence. The penalty provisions are different in the Act.Can we file a writ petition in the High Court against this provision. Please give reference of any Advocate appearing for this case in High Court at Bangalore.
AJIT KAWATKAR
09 April 2010 at 01:05
in a co-op hsg socty mumbai it is reported by the statutory auditour that socty,has not diducted /deposited the TDS with income tax;for last 4*5yrsthe committe is non existant today.the implication of this may be felt when we get IT Notice.it is said the committee [out going] has shared this amount,as a allert member i would like to inform them of the Violation.Where to complain &expect result/s ?can i/any body do this?
pradip lakhotia
08 April 2010 at 11:41
is broomstick exempted under the new provision of wb vat act?
Anonymous
07 April 2010 at 10:59
Could someone apprise me on the Cost Of Index for AY 2010-2011 so that the tax liability can be correctly calculated for LTCG under Sec 54F.Thank you.
Sudhir Indapurkar
06 April 2010 at 11:44
One of my clients received notice u/s 221(1) under Income Tax Act on 03/04/2010 with reference to Assessement Year 1990-91 i.e.period of 20 years before.I am handling his file since last 10 years and he has never received any notice for A.Y.90-91.In the opinion of the client there is no unpaid tax liability however he is not having any records for A.Y.90-91.Is there any remedy ?Is there any time limit for issue of such notices?
Anonymous
06 April 2010 at 10:42
I am a housewife and a non taxpayer. During Fy 2004-05, I had purchased a residential plot which I sold in Fy 2009-1010 and purchased a residential flat seeking full Capital Gains tax exemption under Section 54F and 54EC by buying a residential flat and NHAI bonds from the entire 'Net Consideration'. My query is, since I am in need of funds and intend to sell this residential flat in Fy 2010 – 2011, could you advise me on my tax liability by this transaction. My details are; Cost of plot(indexed): Rs 25,61,756.00 (including stamp duty); sale price of plot (Fy 2009-2010) : Rs 60,00,000.00; Cost of newly purchased residential flat : Rs 56,93,000.00; NHAI Bonds purchased for : Rs 3,25,000.00. Likely selling price of the newly purchased residential flat: Rs 56,93,000.00
In hindsight, would it have been wise for me to NOT to have re-invested in the residential flat and paid my tax then (Fy 2009-2010) and utilized my balance amount or the course of action which I intend to take now, as explained above, would prove to be a financially wiser action.
Anonymous
05 April 2010 at 20:04
URGENT
RESPECTED MEMBERS,
ONE OF OUR EMPLOYEE A CONSTUCTED HOUSE AT NAGPUR AND FOR THAT TOOK LOAN FROM CREDIT COOPRATIVE SOCIETY FOR THE EMPLOYEES OF OFFICE ,EMPLOYEE A CLAIM BENIFIT U/SEC24-A AND 80 -C AS PER INCOME TAX ACT 1961 THE OFFICE REFUSE TO GIVE BENIFITAS ABOVE AND ADVISE EMPLOYEE GET RETURN FROM INCOME TAX DEPARMENT MY QUESTION IS
1) WHETHER IS IT MANDATORY TO CONFER/GRANT BENIFIT AS CLAIMED ABOVE
2)IS THE ACTION OF MY IS LEGAL
Guest
05 April 2010 at 10:43
Friends,
I urgently need associates for commercial taxes assignments for my client located in gujarat and having branch offices/units at following places/states.
Delhi, Sonepat(haryana), Zirakpur(Punjab), Chandigarh, Ghaziabad (UP), Lucknow (UP), Mumbai (MH), Banglore (Karnataka), Hyderabad (AP), Cochin (Kerala), Siliguri (WB) and Kolkata (WB).
Pl feel free to drop your email @ compinejuriz@gmail.com or u cn also talk to me @ 9974164517.
Assignments would include preparing and filing of Returns, handling assessment procedures, replying to notices etc, VAT Audit etc. and to update on respective state amendments in Tax Laws.
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Service tax
Dear sir
We are an private NBFC compnay, we did professional service to another private ltd company and raise an Invoice in the mid of Dec'09 with Serive tax. this is out first invoice for the professional service We registered our company under service tax act by mid of Jan 10. We took input credit to match the output credit in themonth of Dec 09. Is this in correct. Is there any penal clause attarcts for this. If yes how much we should pay to condne this
Kindly reply
thanks