Anonymous
09 December 2017 at 11:38
On March 2015 my father gifted me his three self earned property wherein the 2nd property was mortgage in chit fund (loan taken by a joint account My brother and father) for 95 lakhs. In June 2017 the mortgage property came to auction by court order . We requested d chit fund and took some time and mean while I applied for loan and got sanctioned for 38 lakhs . Since there was a shortage I and my dad decided to sell the 3rd property(gifted property) and pay off the loan. We sold it for 63 lakh . We paid 1% as TDS and 2% for agent to sold it. We made one time settlement with chit fund and paid 57.50 lakh and cleared the loan. And also I closed my loan of 38 lakh. Nothing left in hand. Now my question is do I need to pay capital gain?
shivam mittal
09 December 2017 at 11:01
A person has taken voluntary registration for UP Sales Tax & after that never charged sales tax on his sales from customer , would he be guilty for that & also what are the remedies ?
Anonymous
06 December 2017 at 16:56
Our Company's registered office is situated at Kolkata. We have branch offices at different states which includes Maharashtra and Tamildnadu. All salaries processed from registered office at Kolkata and remitted to the designated salary account.
We have obtained registration certificate and enrolment certificate under the West Bengal State Tax on Professions, Trades, Callings and Employments Act, 1979. Is it further required to obtain similar kind of registrations under other State Govts? Is it correct practice to deduct professional tax from the salary of employees, who are posted outside West Bengal.
Anonymous
03 December 2017 at 12:28
Sir i am govt servant but i was purchase a land in the name of my brother inlaw but purchase the land through cash on dt sept 2016 the income tax department give a notice to my brother in law .they have no income tax return i cant reply to AO but all amount withdrwal from my bank account please give a advice how can meet to income tax department
shivam mittal
03 December 2017 at 10:14
A person has taken voluntary registration for UP Sales Tax & after that never charged sales tax on his sales from customer , would he be guilty for that & also what are the remedies
alok dubey
01 December 2017 at 10:43
Sir
My sister's husband is ready to give her 20 lac permanent alimony to her and her 13 years old son.
1.sir i want to know is this amount taxable or not?
2.she should take money in which form cash,DD, Cheque?
3.she should accept this money in her name only or she can take some amount in name of 13 years old son which dont have any bank acount no ,pan no.
4.if this is taxable what should be do to save taxes.as this is one time amount she will get for life time and she is not working.
Anonymous
30 November 2017 at 17:52
Dear Experts,
Assessment for an Assessee (individual) for AY 2010-11 has been completed u/s 147 in March 2015.
Assessee has filed Appeal with CIT(A) and same is pending as on date.
However now Assessee has once again received notice from ITO u/s 142(1) r.w.s 129 in June 2017 for AY 2010-11.
Since in Appeal - Ground of Appeal contain that notice was not served properly and other things like that the ITO has issued new notice u/s 142(1) for the same matter.
Kindly help me on which ground, section and case law I can challenge the notice?
Thank you in advance.
C.J.Sriram
26 November 2017 at 21:04
What are the steps for compliance by a Resident Buyer of a property owned by NRI. Should he first obtain TAN or is it exempted. What other steps and rate of TDS are applicable.
MANISH KUMAR
26 November 2017 at 17:58
RESPECTED SIR,
IF AO SEND NOTICE U/S 148 WHO DOES'T HOLD JURISDICTION -
AND AFTER 5 MONTHS JURISDICTION HAS BEEN CHANGED TO ORIGINAL AO.
The new AO has started case proceedings-what is solution can i file objection for non jurisdiction. the first notice was sent by AO who did not hold jurisdiction.
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Cash transaction for property
I would like to know if buying a property with 1/2 cash & 1/2 direct transfer is illegal? my total funds are fully tax paid and i can show sources of my funds. Is buyer at fault in such case either from IT dept or from sub registrar who registered the property?
I cant speak for seller. I am not sure if he accounted the cash. transaction was made prior to demonetization. I read rules that after demon, cash withdrawals above certain limit are not allowed.