D.G. Mohan
03 March 2017 at 22:33
In this budget sec 44 AD(2) has been deleted and the consequences of this is illustrated by this example.
Suppose a partnership firm makes turnover of Rs 25 lakhs.
As per sec 44 AD presumptive rate of 8% net profit amounts to Rs2 lakhs.
Upto last year out of Rs 2 lakhs there was provision for deducting partners salary, remuneration and interest in this amount upto a maximum of 90% as per sec44 AD(2).
Hence taxable income was only for 10% of 2 lakhs which amounts to Rs20000.
So Income tax payable was 30% of 20000 which is Rs 6000 only.
But in this budget sec44 AD(2) has been deleted which means salary, remuneration and interest paid to partners would also not be allowed to be claimed as a deduction.
Hence from this year taxable income will be Rs 2 lakhs .
Income tax payable will be 30% of 2 lakhs which will be Rs 60000.
Please observe that income tax paid has increased by 10 times from Rs 6000 to Rs 60000.
Our next alternative is to audit our books of account and lessen our tax burden. But the basic purpose of introducing presumptive taxation scheme as above gets defeated and all small tax payers will be forced to maintain books of accounts and get audited their accounts, which is also costly affair. When an individual gets exemption from IT upto Rs 2.5 lakhs, why a firm has no benefit like them.
Whether my assessment of problem is correct. If correct why no one is worried. Please clarify
Deena
03 March 2017 at 21:28
Hi, In the matter of A.B.A where F.I.R is yet to be filed, I requested the Judge to direct police to give a notice to the applicant, 72 hours prior to filing F.I.R OR arresting him.
In this regard can anyone please provide me citation or landmark judgement which provides for mandatory 72 hours notice to be served to the accused by police before arresting him???
Or citation of cases wherein such an order has been passed under similar circumstances??
pushpakrishna
03 March 2017 at 20:54
dear experts
in a case u/s 138of ni act it is clearly appearing as there is a material alteration regarding the amount.
the complainent made the figure rs.1,00,000 as 7,00,000.
is it necessary to send the same to an expert opinion to prove the same or can we argue the matter on that point to showing the same .
kindly give me a suitable advice on this.
thanq in advance dear experts.
sandeep
03 March 2017 at 20:14
Our Housing Society is registered under MCS Act 1960 and earlier committee is adopted 97th amendment. Now appointed officer is planning to take election through SCEA my query is 1) earlier the adopted 97th amendment who are become the associate member by paid the rs 100 towards entrance fee but his not name stand in agreement can eligible for nomination for election?
Chetan akotkar
03 March 2017 at 17:17
Hi..my name is asha mujhe legal advice chahiye...meri umar 45 year hai..meri bachpn me shadi hui 1 bchha hua kuch karn se meri shadi tut gayi fir jb o 20 sal ki thi fir se 1 admi se unki shadi hui shadi k kuch dino bad us admi ne shrt rkhi k mere bete ko kisi ko dena hoga jiske bad hi hm sath me rhege maine na chahte hue bhi sb k pressure me akr bchhe ko meri ek saheli ko god de diya jise koi bchha nhi tha ..fir kuch dino unhe government job lgi unhone job pr bataya k o kuware hai iske 1 month bad mujhe 8 din me ata hu kah k gaye aur dubara nhi laute maine bahut talash kiya magr o nhi mile bad me pata chala k unhone kisi se shadi kr li ...mai akeli ho gyi thi mere pas kuch nhi tha na family na pati na beta ...us k kuch sal bad mere bade bhai ne meri shadi krwa di jisase mujhe 2 bchhe hue ...mere hasbnd daru se pareshan the akhir unki tb se death ho gyi maine ghr k kam kr k bchho ko bada kiya ab 25 sal bad o admi jisne mujhe chod diya tha o waps aaya aur mujhe kahata hai k mujhe jabrdsti shadi krwai thi unhone apni family ko chod diya tha ab o apni galti sudharna chahte the maine apne bachho se bat ki unhone bhi kaha agr life achhi ho skti hai to aap sath rho aur jindgi phir se shuru kro...hmne fir se life shuru ki aaj 5 sal ho gye ab unhone bina kisi wajah k mujhe fir se chodne k naye naye bahane dhundna shuru kr diya hai o ghr chod k bhi chale gaye aaur bat bhi nahi kr rhe hai ...plz mujhe koi batao ki agr ye froud hai to mai kya kru ....
DARSHNA
03 March 2017 at 16:22
Hii
We have purchase 1room kitchen 2 years back at nalasopra west. We have paid almost 2 lacs for society registration, agreement registration etc. After that we cleared with builder that nothing has to be paid after that for any reason. All dues whether it is service tax, registration tax etc have been paid.
Now since last 1 month, builder is calling us to pay service tax of rs. 50,000/- that is after almost 2 & half years, so what to do now? We are not sure whether it is mentioned in our agreement or not? But, if it is not mentioned then what is the solution?
Builder says we have to pay 4% of property value as service tax, if it is so why he has not said anything in past 2& half years?
Whether it is necessary to pay?
What will be the solution?
He says if we will not pay immediately, he will block water supply, what is the solution?
Pls revert back as soon as possible.
Thanks in advance
Regards,
Darshna
DARSHNA
03 March 2017 at 16:12
Hii
We have purchase 1room kitchen 2 years back at nalasopra west. We have paid almost 2 lacs for society registration, agreement registration etc. After that we cleared with builder that nothing has to be paid after that for any reason. All dues whether it is service tax, registration tax etc have been paid.
Now since last 1 month, builder is calling us to pay service tax of rs. 50,000/- that is after almost 2 & half years, so what to do now? We are not sure whether it is mentioned in our agreement or not? But, if it is not mentioned then what is the solution?
Builder says we have to pay 4% of property value as service tax, if it is so why he has not said anything in past 2& half years?
Whether it is necessary to pay?
What will be the solution?
He says if we will not pay immediately, he will block water supply, what is the solution?
Pls revert back as soon as possible.
Thanks in advance
Regards,
Darshna
Aarti
03 March 2017 at 16:10
Sir i have filed 498a against my husband, brother in law, mother in law and father in law. But my husband has received a permanent stay for my inlaws from Allahabad high court and taken bail for himself. Sir is their any way to punish my inlaws for what they had done to me by court. Sir plz sujest
Anonymous
03 March 2017 at 15:23
I am b.com hons. graduate and want to pursue LLB. I have scored 47% in hons papers but it comes down 44% after adding the pass pappers.
Plz suggest me colleges and universities where i can get admission for LLB.
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