Harvinder
26 July 2016 at 17:35
The Occupation certificate for the society flats was granted in March 2014. Is the property tax applicable from the OC date? MCG has billed it to all flats from 2011. Is it legal? Please clarity. Thanks a lot in advance
Vijaya
25 July 2016 at 16:26
my mother in law (83yrs) and my daughter (20yrs) have a flat on joint name. She wants to make release deed and transfer her interest to my daughter to make my daughter full owner.
Do my daughter has to pay any capital gain or tax after acquiring full property.
If so how much ?
RAJESH CHOPRA
23 July 2016 at 19:08
Dear Sir, I had purchased a property in Sept 2010 from a builder for self use and paid 90% upfront. The flat was Expected to be completed latest by March 2014. I also took a loan for the said flat and paying EMI's
The flat is not yet ready and still under construction and will take minimum 2 years more .
I would like to know can I under any provisions of law claim exemption on interest paid on my loan though the flat's possession is not yet given to me.
Thanks
RAVI SONI
21 July 2016 at 13:55
In Goods Transport Agency from 01.04.2016 an abatment has been further reduced to 60 for the specified services of transport of used household goods. I want to know what does this household goods signify and to which type of business sector this will be applicable.
Prithvi
20 July 2016 at 12:16
I am having a query about taxation of Trust not Registered with Income Tax U/s 12AA .
Such unregistered trust have Income of Rs 17 Lacs from Government for social welfare Projects & Rs 1 lac of Voluntary Contribution (not Corpus donation) . The Trust had expanded the whole of Rs. 17 Lac (even more) of the grant received for the specified purpose of welfare project & the trust have also incurred administrative expenses of Rs 1.5 lac approx. The whole operation resulted in loss for the particular financial year.
Now the query is , what will be the taxable Income of this Trust. Whole of Rs. 18 Lac , or Rs 1 lac of donation or zero Income , as trust suffered loss ?
Also please guide, if the trust is unregistered, then which ITR form (ITR 5 or ITR 7) will be use for Income Tax Return Filing.
YASHPAL RAWAT
20 July 2016 at 11:22
Kindly suggest if Duty paid Sold goods are returned with original invoice to factory which are not amounting to reprocess or manufacturing so what is procedure in respect of following
1. How to take Cenvet credit
2. If goods are returned after 6 month so Cenvat can be taken
3. Need to show in RG or maintain separate register
4. How to show in ER1
Tom
19 July 2016 at 00:31
Dear Experts,
I have never filed any tax returns because my income was always below the limit of 2.5 Lacs. Recently i have started a little trading in shares,but even with that my income does not go above this limit.Am i required to file return only because i trade in shares and not because my income exceeds the lower limit !
ahila jayaraman
17 July 2016 at 17:36
My daughterinlaw, a housewife, sold her residential plot of landi Feb 16, and there is a few lacs of long term capital gains. Her husband, my son is buying a flat in the joint names of himself and her. I hope, if the capital gains is remitted to the builder before 31.7.16, she need not pay LTCG tax. So far she has not filed IT return,since she does not have an independent income. Now, has she to file the IT return, since there is LTCG?
Goapl Garg
14 July 2016 at 21:46
I am a consultant.I have been awarded a contract from 28/06/2016 to 27/06/2017 for Rs.97000/- per month fixed payable to me by the principal against monthly Invoice. Please let me know if I have to charge service tax on this amount in my invoice and if yes then at what rate?
Please help.
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Availment of cenvat credit on capital goods
Sir,
We are a SSI unit registered with Excise since 2005 .Commenced new project in manufacturing of
intermediate products.we have procured machinery in Nov14 for the same.The commercial
production commenced in Nov'15.
Can we avail the cenvat credit in Jul'16 ?
As per Notification 21/2014 ce(nt),the time limit is applicable for Rule 4(1) and 4(7).These two rules
talk about taking credit in respect of inputs and input services.
Rule 4 (2) talks about taking credit on capital goods. The above proviso prescribing time limit for
taking credit is not inserted in rule 4(2). Therefore on capital goods the credit can be taken at any time
but on the condition that the said capital goods should be received in the factory of manufacture.
Now the capital goods are received in the factory.
Kindly suggest that can we avail the input cenvat credit in Jul'16?