Anonymous
31 July 2018 at 09:22
If a person expired and has a wife not staying with him from long time, no child and had left a WILL whose executors are his friends in this case who is legitimate to sign an Income Tax Return?
Beneficiary can ask for copy of a WILL? even if penut amount is given to him/her?
Please guide and share judgement/document, if any.
Nitin
26 July 2018 at 15:49
Dear Sir ,
My wife filled false matrimonial cases against me and my family. In 125 maintenance case District Family court ordered for interim maintenance payment , which i am paying to my wife on regular basis from last year. I am going to file my ITR (Income tax Return) , there in which category (in Income Tax Return Form) i can show this interim maintenance payment which i am giving to my wife. Provide me any income tax section or rule number if any have . Please help me in this regard.
Regards Nitin
shalini
22 July 2018 at 21:26
sir
my brother have a job in private organization and file ITR1 every year.
last year our parents get expire.
He get money by cheque which was deposit in name of our parents no nomination was made (post office and Bank) being a legal heir ,with my consent(letter of relinquishment).
My question is whether this amount is taxable in income tax/have to show in ITR 1? if yes how in which section .
Anonymous
22 July 2018 at 09:30
We represent the co-operative movement in Kerala. Co-operative Societies is facing tough time from the year 2000 onwards due to notices issued by Income tax department under various Sections of Income Tax Act 1961. Conflicting decisions are being made by appellate authorities and even High Court only because the legal experts are not well aware of the factual situation. This has resulted in thousands of litigations causing waste of money, manpower, stationery and valuable time of Courts, ITAT, Income Tax Department and Co-operatives. For example, interpretation of Sections 80P, 56, 68 and 40 a(ia) being made by the Department, ITAT and of course the High Court is different from that of the well settled position of law in other States. There are situations that conflicting decisions are forthcoming from the same authority. As a result, the public exchequer has already lost thousands of Crores of Rupees in these litigations which could have been avoided if the concerned authorities had a clear perspective on the decisions of the Apex Court and various High courts in other States. We hope that CBDT will look into the matter urgently so as to take necessary action in order to prevent unnecessary disputes between Department and Co-operatives on settled position of law.
Now roving enquiries calling for voluminous information from co-operatives are being made by the Department u/s 133(6) for no particular reason taking advantage of the decision of the Apex court in Kathiroor Service Co-operative Bank vs. ITO, Kannur.
We would like to hear the opinion of our experts and request them to suggest a few names of lawyers who would be suitable to handle our cases in High Court and Supreme Court.
MANOJ
20 July 2018 at 18:14
Respected All,
Can anyone let me know whether issuing C Form in Telangana is not allow, in case final product manufactured ,is exempt from VAT & CST.
P Lease quote any case law.
Thanks,
MD AARIF
19 July 2018 at 12:08
Dear All,
Kindly suggest me that i am a graduate and law graduate result awaited in final year , my query is that can i open my office for taxation work ( i have more than 6 year exp in taxation ) , residence cum office without any registration / without gst practitioner certificate from gst department .
I am leaving in rural area , any police office / other officer can do challan for non registration of firm ?
Kindly suggest
Aarif
Anonymous
17 July 2018 at 17:54
I had income from professional services (consultancy in IT) amounting to around INR 5 lacs. Also I had earnings from interest (FDs and Savings account) amounting to around INR 2.5 lacs. Should I use ITR 3 or ITR 4s?
Yog Raj Wadhwa
13 July 2018 at 15:57
Please enlighten the availability of tax exemption on donations made under India Bravehearts scheme.
Pranjal Chaudhary
12 July 2018 at 13:18
Hello All,
I want to know a person have a interest income and in same year he/she purchase property(Land) cost 7 lac and sold house(Parental Property purchased year 1948) cost 12 lac FY-18-19.
Note: He/ She received money 12 lac in march"18 of sale consideration and purchase land on 23 March"18 but sale registry made in 10th May"18(FY-18-19)
In sale property there is two partner gave him 3.66 Lac.
1200000-366000= 834000 purchase land cost 700000-834000= 134000
How to calculate capital gain tax and where to show in ITR.
Thanks in advance
Regards,
Pranjal Chaudhary
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Tax on sale/purchase of property
Dear Sir,
I & my wife own a residential house purchased in 2003 out of my income. Not inherited. Now we are selling it and buy another house with the sale proceeds plus loan. I understand that buyer will deduct TDS @ 1% and deposit against my PAN number. I will do the same for the house that I purchase. My questions are:-
1. Should this TDS be deposited in my and my wife's PAN account @ 50% each to avail of exemption available if sale proceeds are utilized to purchase another property?
2. Is there any special provision for senior citizens?
3. How should the sale proceeds of old property and purchase price of new one be treated in ITR?
Thanks and regards
Brigadier RM Sharma