Anonymous
06 January 2010 at 21:23
Hello, Happy New Year 2010
Please suggest tax saving schemes.
Details as below:
salary 11L. I am claiming 80C for 1L and interest on housing for 1.5L. What else can help to reduce taxes. I am the only earning member with wife, 2 minor daughters and senior Citizen parents as dependents.
Some Inputs Gathered as below - however I am open to further ideas.
Please suggest if the following thoughts are feasible in my case.
A> Both husband and wife should, by obtaining gifts from older family members, have a separate Hindu Undivided Family (HUF) so as to claim a further exemption of Rs 1.10 lakh through proper tax planning.
B> If the couple has children, say, one son and one daughter, each one can separately form a trust for the would-be spouse of one child in such a manner that the initial exemption of Rs 1.10 lakh under the provisions of Section 164 of the Income Tax Act is available.
C> Besides, if either worships some deity, then he or she can have a private religious trust of one's own chosen deity. Such a trust would be liable to assessment as a separate taxpayer under the category of artificial juridical person and would enjoy a separate exemption of Rs 1.10 lakh.
D> Donation
Anonymous
06 January 2010 at 20:16
ours is a single prop firm and one of the family member had capital of 2lac in our firm can he sue the firm and lock up the company
Anonymous
06 January 2010 at 20:14
Dear Experts,
First of all thanks for providing the valuable information
As per your advice, I have filed the Miscallneous Application for the adjournment, where I was also informed that instead of filing the adjournment, R.F.A(Request for Adjournment) may be filed where I have to file the application in triplicate and NOC from the O.P/Attorney of the respondents have to be obtained.
Now I have laready filed the M.A for adjournment
Please inform is there any harm of filing the M.A instead of the R.F.A?
Is there any demerits of filing the M.A???
srinivasan
06 January 2010 at 19:57
1.Thear is a F.D in S.B.I in hindu father's name, he died interstate without oppointing nomine to the F.D.
2.Thear are six leagle hires 3, daughter's 2,son's and wiedo mother. the 3.daughter's and wiedo mother acepted to signe, 2,son's refused to signe.
3.The bank manager said in this case you have to get court order.
4.Is it possable toget court order for this funds, in what maner shoud we aproch the court, what will be the court fees?
5.Will all the leagle hires get equale shares?
6Thear are other immoveable property's to be claimed, can they move court for this fund's alown, and later for the other property's since the father did not make any will died interstate .
7. Can they claim cost of the court order from the 2.son's who has refused to signe.
Sir kindly clear my quary.
prabhat
06 January 2010 at 19:33
i have a doubt. according to the stamps act in most of the states a particular percentage of stamp duty is to be paid for agreements of sale for immovable propertty. in andhra pradesh it is 5 percent. but almost all agreements of sale for immovable property are made on only Rs.100 stamp paper even if the property worth a crore. how is this permitted?
Mahendra
06 January 2010 at 19:24
Pls let me know about how to search case laws
How can i quickly reach to the required case laws pls suggest.
Thanks
Mahendra
Anonymous
06 January 2010 at 18:51
Dear All,
I am working in Private Limited Company where in we are intitled for 12-13 earn leaves every year depnding on our attendance.
Recently company has announced that they will start reimbursing the earn leaves on yearly basis but the amount will be paid only on basic salary.
For example person is having salary of Rs 45000/ per month and his basic salary is rs 10000/= per month so hisearn leave amount will be calculated on the basis of basic salary but if company have to deduct the salary they will deduct from complete salary means company is trying to reimburse at Rs.333/= per day but would deduct Rs 1500/ from salary. My question is what should be apprioprate way to reimburse earn leave.
Please help as it is a matter of 200 peoples.
regards,
Gurjeet Arora
Anonymous
06 January 2010 at 18:49
what is the effect of notice under section 80 cpc on the period of limitation ? suppose the notice is given in the 11th month and ordinarily the period of limitation was to expire in 12th month .
Anonymous
06 January 2010 at 17:58
Hi.
one of my client has a business of
1. air travel booking. but he booked ticket from other travel agent and get commission. and
2. he manages tours in India means he booked hotels for client and arrange for car and add his margin and issue bill to client.
my query is whether he is liable to service tax? what is the limit? and how the same is calculated.
pls mail the reply to ca.mananshah@yahoo.com
Thanks and regards.
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