dasd
22 December 2009 at 18:06
there is no separate section in IT act for Show cause notice . only it is pecified u/s 144
"Provided that such opportunity shall be given by the Assessing Officer by
serving a notice calling upon the assessee to show cause, on a date and time to
be specified in the notice, why the assessment should not be completed to the best of his judgment"
what will be the T/L for issuing such notice?
whether it wil be as per sec 153(1)--(i.e. Time limit for making AO u/s 144)?pls answer urgently
dasd
22 December 2009 at 18:05
if the parents alive & income is earned by minor on a/c of skill /talent then income will not be clubbed in hands of parents .minor will file the return +sign the reurn ?
my ? is since minor is not a party to contract then whether minor is able to sign or some other person is liable to sign b/c in return we have to acknowledge that information given above is correct. (if parents alive then parents or if parents dead then legal guardian has to obtain power of attorney)
dasd
22 December 2009 at 17:58
just like bonus+right share stripping whether there is any right share stripping?
dasd
22 December 2009 at 17:43
as per sec 3 of WT act it is specified that trust is assessable as an individual ?
whether income tax act also follow the same treatment if yes what is the section for that? As per sec 2(31) there is no person specified as "trust " among 7 persons?
dasd
22 December 2009 at 17:39
whether ausit of trust is reqd under any other law other than IT act (sec 139(4A)
dasd
22 December 2009 at 17:33
K
assessee (Mr A) has 5 business i.e. sorce of income
1. manufacturing cigrattes--35 lac
2. manufacturing toys---15 lac
3. retailer------40 lac
4. profession----38 lac
5. services (supporting)--4 lac
for calculating limit of 40 lacs whether all should be clubbed or only business of same nature should be clubbed & 3 audit reports should be prepared (1 for 2 manufacturing bs+1 for retail+1 for professon+servics)+(1 computation for all)?????????????????
Ashok Yadav
22 December 2009 at 17:26
A as authorised representative of his company got a sale deed registered in favour of his company, but the sale consideration was to be paid by the agent/broker of the company (company has entered in a MOU with the agent/broker for that purpose)
after some time a FIR u/s-420,467 was registered against the authorised representative of the company on the pretext that the consideration amount of the land purchased has not been paid to the seller. Name of the company or broker is not mentioned in the FIR.
Now my question is:-
1) is FIR against the A/R of the company is maintanable if he has not done any wrong.
2)was it necassary to mention the name of company as one accused in the FIR.
3)What should the A/R do if he has not done any default.
4)Should he go to high court for Quashing of FIR.
Kindly Reply it with relevent case law.
Anonymous
22 December 2009 at 17:22
I m disclosing the data in details now.
Ours has a Textile business engaged in the developement of powerlooms parts.
Due to financial crisis we took the Personal loan of different bank as well as of NBFCs like barclays finance , futuremoney etc. worth Rs.10 lacs
Now for most of the banks 3 cheques has been bounced and so the recovery agents of banks are now coming to the factory premises and behaving and tourchering like anything.Moreover they threat to bring out a warrant in my father's name on whose name all PL has been taken.
If i talk about the personal assets then we have house motgaged(Home loan) by GEMoney.
Factory as stated above is in the name of my father( THAT IS GUMASTADAHARA AND SALES TAX NUMBER )
Whether they attach the house?
Whether they attach the factory?
Ashok Yadav
22 December 2009 at 17:17
I am GPA holder of a agricultural land which is regd. with sub registrar and irrivocable & stampduty of a sale deed (i.e. about 8%) has paid for the GPA. Agreement to sale,will,reciept,affidavit are also executed with that G.P.A.which are un registered
I want to know whether the Executant can cancel the G.P.A. or not, is that GPA is valid transfer of property.
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income tax
Whether rectification possible U/s 260A(HC))? If after giving decision HC or any lower authority find any mistake apparent from record then whether such lower authority inform HCt o make rectification
Whether rectification possible U/s 262 (SC)? If after giving decision HC/SC or any lower authority find any mistake apparent from record then whether such lower authority inform SC to make rectification?
pls specify if any concept is wrong in question?