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Bhushan   27 May 2013 at 00:53

About vat and st on residencial flats

I have purchased a flat in Nagpur (MS) registered
(sale-deed) on 27.06.12. Right now I am residing in the flat. Before
the sale-deed I have not registered the agreement to sale. It's just
done on 100 Rs. stamp paper.
Now, my builder is asking to pay 1% VAT and 3.09 (appx) % Service
TAX. to him for giving the possession letter. He has not yet issued
the letter for that, but he is asking orally. There are a no. of
incomplete works (power back up/borewell/mutatinon in Corporation from
his side.
We have paid all the dues except VAT and ST.

We have not yet formed the society of our apartment. WE are here 25
-flats in the scheme.WE are paying monthly common expenses/bills like
common meter for water/lift power/ payment of supervisor/
Please advice us. What to do? now. What are the correct laws regarding
it.Please guide.

Sathish   20 May 2013 at 10:03

Trading business


We are having trading business at vallam plant. currently we have registration for manufacturing,

To do trading business (material will be stored within manufacturing unit) whether we required to register also as trader in Excise else we can invoice the goods as manufacturer (without passing CVD to customers).

Regards
Sathish k

pcjain   19 May 2013 at 11:37

Mci & dmc

The MCI has revoked the license and passed order on 09.02.13 endorsing the copy to DMC & IMR but doctor continued to practice with impunity.I had informed the MCI, on 28.02.13 and offered documentary evidence in support of my contention but later on MCI changed the date to 09.04.13 & DMC 13.04.13.Can the regulatory authorities change the goal-post after passing the order? Please suggest remedy-pcjain

mohanmodur   16 May 2013 at 18:19

Tds on shipping charges and commission paid for procuring orders abroad.

A PERSON BUYS GOODS ABROAD AND THE SUPPLIER SHIPS THEM TO INDIA. THE SHIPPING CHARGES ARE REMITTED BROAD THROUGH BANKING CHANNELS- LIABILITY TO DEDUCT TAX ON SUCH PAYMENT IS THERE OR NOT. SOME OPINE IT IS NOT THERE.FURTHER ON ORDERS GOT FROM ABROAD, THE FOREIGN AGENT IS PAID COMMISSION IN DOLLARS. IS IT LIABLE FOR TAX DEDUCTION IN INDIA.

p k srinivasan   13 May 2013 at 15:13

Ancestral property

We are five brothers and five sisters of my father (decesed)Three of us are first wife son (father and mother not alive)My father married to second wife she had five sisters and 2 sons.

We have 100 years old house of grand father situated at
Tamilnadu and a self acquired property of a house by my father.

Since my father and my eldest brother are not alive now, who are all eligible to get the shares in the event of properties are sold to a builder. Will the daughers(MY SISTERS) (married prior to 1980) eligible for share as well the eldest son who got released by a release deed in 1980,his son and daughters are eligible or not?
(refer Hindu succession act 2005)

pl clarify the points.
Thanks.

pk srinivasan

M.Vijay Kumar   13 May 2013 at 13:57

Cofirmation deed of dissloution deed

Dear Sir,
My father started the business in partnership with grand father and two brothers subsequently he has purchased the property in Chennai and retained the good will with assets and his liability in his favors and later the grandfather expired in 1980 the share was transferred in my farther name.

The said firm was dissolved in 1981 and dsissloution deed was made subsequently one partner my father has taken the release deed for property and registered based on dissolution deed was not registered but from the other partner he never took release deed but signed in dissolution deed now both my farther and and the other partner my uncle are expired please advise us if we take confirmation of dissolution deed of the firm along with release deed of the property is stamp duty will attract and if yes what are the charges.

M.Vijay Kumar.
Chennai cell No 09444082777

HANDEEP SINGH   11 May 2013 at 09:32

Indirect taxation-demand of duty at time of debonding

My query is there is a demand from department at time of Debonding of EOU of duty on Capital Goods at depreciated value as per N/N-22/2003,which says goods can be procured without payment of Duty. But being EOU goods are procured on payment of Duty then is duty payable at time of De-Bonding?

YATIN   10 May 2013 at 18:42

Income tax return of family trust

Sir
My father by his WILL had formed a discretionary family trust. After his death the said trust was formed and its return are filled regularly showing its status as” Individual” which is possible as one discretionary trust created by WILL enjoys status of individual as per Income tax law.

This year its manual return was not accepted and were told to file e-return. After filling in all details we were not in a position to file Form 1. We were directed to go for Form 5 on site.

1) How do we file return of this trust as individual on I Tax website ?

The trust has only interest income and no business income.

venish ladva   09 May 2013 at 11:01

Tds on payment made to agent of foreign shippling copanies

if payment(e.g. for logistics services
) made to agents of foreign shipping companies then tds would be applicable or not as per section 172??