Taxation queries [Resolved] [552]

R.Rajendran 30 September 2008 at 14:16

TAX FOR POWER OF ATTORNEY

Dear Sir,
We are 4 sons .Our parents are not alive.All the heirs of our family (4 sons) have decided to sell the house belonging to our mother by writing Power of Attorney in my name and then share the money.The house is likely to be sold for Rs. 15 lakhs.Each son will get a share of Rs.3.75 lakhs.Please reply my following queries:
1.Simply because POA is written in my name,
I am afraid I may be subjected to tax for Rs.15 lakhs. Will I be subjected to tax for Rs.15 lakhs?
2.What should I do so that I pay tax only for my share of money?

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Ananjan Mukherjee 29 September 2008 at 23:08

Income tax on selling shares

If I sell off some shares that I own, how is that income going to be treated? How will I be taxed?

Thank you,
Ananjan Mukherjee

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Ananjan Mukherjee 29 September 2008 at 23:06

Income of dependant spouse

If my wife is a housewife but has some income through investment interests, will I be taxed for that income? If I gift my wife some money which she invests on her name, would the interest earned be considered my income?

Thank you,
Ananjan Mukherjee

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Anil Goel 26 September 2008 at 19:07

e-payment of taxes

dear friends
as u all know the ministry of finance has issued a nitification regarding mandatory e-payment of taxes. but most of the assesses are unaware of it & they deposit their income tax in the banks as they r doing in the past. i want to know that the persons who deposit thier income tax in the banks directly are entitled for the claim of payment or not

thanks

Anil Goel
Punjab

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Pawan Mittal 22 September 2008 at 11:04

Residential Status - is Nepal ?

is the Nepal comes under foreign country to decide the residential status of individual ?

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Pawan Mittal 22 September 2008 at 10:56

Is individual (tax audit case) required to file ITR by e-file

Is individual (tax audit case) required to file his ITR by e-file or can file manual ?

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Priyadarshi 20 September 2008 at 22:15

Tax on motor vehicle

I purchased a motorbike/car from a state( Jharkhand) other than my native state(West Bengal) paying all the prevailing taxes of that state. If I take that vehicle to my own state(West Bengal) then what are the tax liabilities will be applicable on me in regard of that vehicle?

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ashish 19 September 2008 at 20:18

treatment of scrap sale

r/sir,
during an assessment under vat (jharkhand),the a.c.c.t.want to treat the scrap sale as part of g.t.o.
the dealer deals in furniture business
,and if he sells cartoon or plastic as scrap ,then he has to pay the tax?

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garibnathsah 18 September 2008 at 17:51

Tax liability of a Japanees citizen in India

A Japanees citizen arives in India on 13/04/08 for employment in a company registered in Japan and
1.gets salary in Japan in the Japanees currency(Yen) although he works in India.
2. NO TDS is deducted after he came in India.
3. In India he gets his allowances in US$.
ISSUES:1.His status in India, 2.His total taxable income in India,3.Tax relief under DTAA,4.If income is taxable in india conversation rate of Japanees'Yen,5. Whether deduction under Sec. 80C to 80U will be available 6.whethet deduction available in Japan will also be available in India.

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Bharat Gala 18 September 2008 at 14:15

Custom Duty

I would like to know the present status of Custom Duty on import of Medical Equipments by Charitable Trust running Eyes Hospital at Mumbai.Earlier duty on the Equipments imported by Trust were exempted.

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