bhaskararao donepudi
29 January 2016 at 13:26
sir
A,B, & C sold an agricultural land with in municipality limits, in 2007,on GPA basis to X & Y amount of Rs 15.00lakhs(full consideration received), in 2010 the registration regularized by them with cost 15.00lakhs, but stamp duty paid on of Rs 35.00lakhs, because of value of property hiked by State Govt, but ITO objection its not Agricultural land, capital gain tax imposed on 35.00 lakhs,should liable in this and its capital asset, but still today cultivation is running on this land, so I request A,B, & c has tax liability or not,
bhaskararao donepudi
27 January 2016 at 18:31
sir
Income tax act section 50c is exempted on sale of Agricultural land or not. please clarify if not apply ,refer case please,
thanking you
P.SHANMUGASUNDARAM
27 January 2016 at 18:06
One of my Client A got married with B. The A and B got a male child C. After birth of C, the B has expired. The A has again married D after death of B. Then A and D got female child E. Now the children are adults. The C - brother wants to give a Gift of Rs.3,00,000/- to E - sister. Even though the C is a brother of E, they have different parents, only the father is same but the mother is different. Let me know whether the Gift given by brother-C to his sister-E is exempt u/s 56 2(vi) or is it taxable in the hands of E as GIFT not received from specified relative. Kindly clarify
4123320
26 January 2016 at 18:13
Hi,
I am Aasheesh Sharma residing in Thane and have a 2BHK apartment for which I received the possession in January 2008 after paying the demanded Corpus fund and obtaining the possession letter.
I later received 2 letters from builders via courier in August and December 2012 demanding VAT charges amounting to Rs 1.24 lacs which I did not acknowledge in view of ambiguity associated with payment of VAT charges.
I have now all of a sudden received court notice from my builder demanding VAT amount of 1.82 lacs (inclusive of interest). I have read few forums on the internet which states that VAT liabiloity is on builder following to Supreme Court ruling.
I am annexing the required document which confirms demand of VAT.
Can you please review this and advise if I am liable to pay VAT to the builder? Why did the builder not demand VAT between 2012 and now?
Rucha Pawar
26 January 2016 at 12:37
Dear Sir(s),
we are a company, For one award Ceremony we paid participation fees plus service tax, which was not due, the Organizer collected service tax amount from us, without having any valid registration for the same, now only they realize after one and half year , and when we claimed the amount paid as service tax, not due , they are giving several excuses for non -payment and avoiding it, we have sent a notice to recover it, under IPC 420,
Do we have other option also to recover our amount, like intimate to Commissioner of Central Excise and Service Tax with the evidence for proper legal action, we have only account entry for the payment, they have not issued us invoice, in spite of demanding several times.
We have email correspondence for the same .
Kindly help us
Neeraj Jha
25 January 2016 at 14:58
Dear Experts,
A government employee shows the rent receipts of own made while he has house on his name in the city where he works therefore I have to lodge a complaint against him because he is misusing the Income tax exemptions.
Please let me know the procedure of this type of Income tax complaint and what act applies on him.
I have his PAN number and proof of his property.
Thanks in advance.
Sonu
UPINDER
24 January 2016 at 21:10
Can a partnership firm purchase property from the funds of Cash Credit and can A.O. disallow the interest debited in the profit and loss account. Please help me with any reference.
balaji r
22 January 2016 at 20:23
We are a registered trade union of Managerial class in the PSU Bank. For our Officers', we have promoted a housing project by engaging a reputed builder for construction of flats. The money is mobilised and paid to the builder. Our bye-law provides the promotion of housing activities for the members of the association. As a Trade Union, are we exempted from paying service tax? If so, provide us details. We expect the opinion in this regard at the earliest. Pl guide us. R.Balaji
santosh
22 January 2016 at 12:39
one of my client received a income tax notice for non filing of i.t. return A.Y-2013-14. In notice saws that a time deposit of Rs. 100000/- is noticed by I.T. Department in that A.Y. Now my Question is what should do now. The time of Return filing of A.Y.-13-14 has been passed away. Can assessee file a Return A.Y.-13-14 now because 31.03.2015 is ended?. What is the solution of this problem? Please answer any one. If he has taxable income in that A.Y. than can he file Return for A.Y.-2013-14? if yes than what will me mode of filing Return mannual or online? Will it not attract penalty ? And if he has no taxable income in that A.Y. than what should he do?
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Tax exemption
Sir – After putting 1.5 lacs in my PPF Account if I put some amount in my son’s PPF A/c will my son get tax exemption benefit? My son is also employed in a multinational company in India.