HARIPRASAD
12 May 2017 at 18:10
Dear sir,
We runs works contract business (constructions).we were called Tenders BY ONE of the GOVT COMPANY - (1) ANDHRA PRADESH STATE HOUSING CORPORATION FOR Improvements/Modernaization of outdoor stadium at kurnool which comes in Andhra pradesh state.
AND
(2) ANDHRA PRADESH STATE POLICE HOUSING CORPORATION FOR Construction of Teaching Veterinary clinical complex at College of Veterinary science Poddutur Kadapa.Andhra pradesh state respectively.
As per the 25/2012 dated 20.06.2012 the above works will fall under this notification under clause of 12.
we had shown this turnover in 2015-2016 due to our method of accounting which we are following.
Now, Service tax authority wants to pinch us WITH imposing tax on these two projects SAYING THAT, THESE TWO ARE NOT EXEMPTED PROJECTS HENCE YOU ARE LIABLE TO PAY ACCORDINGLY AT@4.944%.
OTHER HAND WE ARE TRYING TO PROVE THAT, THIS IS PURELY STATE GOVT AND NON COMMERCIAL PROJECT WHICH WERE ALLOTTED BY ABOVE THE ABOVE SAID CORPORATIONS AND PURELY CONTROLLED BY STATE GOVTS.
BUT, ON THE OTHER HAND WE ARE IN CONVERSATION WITH THESE TWO DEPARTMENTS TO GET HOLD OF THE EXEMPTED TURNOVER DOCUMENTS PROOFS AND TYPE OF ESTABLISHMENTS DOCUMENT PROOFS TO SUBMIT TO SERVICE TAX AUTHORITY TO THEIR LEVEL OF SATISFACTORY.
THE PROCESS SEEMS TO TAKE LONG TIME TO GET RID OF THIS. IF ANY ONE COULD ADVICE US WHETHER THE ABOVE MENTIONED PROJECTS EXEMPTED OR NOT?
IF SO PROVIDE ME THE DOCUMENTARY LINK. THANK YOU.
D.G. Mohan
07 May 2017 at 20:21
Our parntership firms turnover is less than Rs 1 cr and net profit is less than 8%. If I do not avail sec 44AD can audit of accounts be avoided.
Is there any way to avoid audit of accounts. Since availing sec44AD is like pay more tax or audit accounts. Even Rs 10 lakhs turnover firm has to audit a/cs.
Abhishek Gupta
06 May 2017 at 14:07
What has to be done if in Deemed assessment status of the assessee is "Record not found",however the same is in business from several years?
whether one has to go to the department for order or should be silent in this regard.
Regards.
AKHILESH SRIVASTAVA
01 May 2017 at 12:11
Need to file revised return for A.Y.2016-17.
SONU KUMAR SHAW
30 April 2017 at 19:30
Sir,
I am going to sale a Bastu Plot which I purchased on 10/12/2010 for Rs. 3,00,000/-. Sale agreement will be executed in the month of May 2017. Sale price is Rs. 16,00,000/-. I do not have any ohter income. Kindly help me to calculate capital gain tax as per latest budget and more imporatntaly also guide me to save tax as much as possible.
Summary is as under.
1. Purchase price of Plot- Rs. 3,00,000/-
2. Purchase date -December, 2010
3. Sale price of plot - Rs.16,00,000/-
4. Sale date - May, 2017
5. My present income shown in IT file - NIL
6. Stamp Duty paid - Rs. 28,600/-
7. Brokerage paid to local agent - Rs. 45,000/- in cash at the time of purchase of plot i.e. in December, 2010. (of which I have no documentary proof)
8. Land filling cost incurred - Rs. 1,35,000/- during 2010-2011 ( of which I do not have documentary proof)
9. Estemated Stamp duty will be paid by me on sale in the year 2017 - Rs. 1,13,000/-
10. Brokerage to be paid by me to local land broker at the time of sale - Rs. 1,30,000/- (of which I have documentary proof).
Kindly guide me to save the capital gain tax.
Rohit
30 April 2017 at 14:22
Respected Godfather of Law,
First of all I would like to express my gratitude from the bottom of my heart to guide us and provide us your valuable suggestion. Hands off to all of you for your valuable time and suggestion.
I'm facing one another problem related to my income tax rectification. I observed in my form 16 for the assessment year 2016-17 that the HRA has not been considered by my company and excess tax has been filed mistakenly. I have requested the rectification for the same on 10-03-2017 and file has been forwarded to my local jurisdiction Bihar Sharif, Bihar. I contacted them and Since I'm working in Coimbatore I asked my brother to get the details and status but the problem is the ITO officer is not responding properly and they are always asking him to come on another day. After that I filed RTI on 06.04.017 to Chief Commissioner of Income Tax (CCA) , Patna to know the status of my tax rectification.
Now I need suggestion that as per RTI Act 2005 will I get any help from RTI on this and how many days RTI could take to provide me the information. Also how I can proceed further here in this case. Will I be able to get the excess tax paid or not?
Please let me know for any further details.
Once again Thanks for your time and have a good day!
Excellent job!
Regards,
Rohit Kumar.
SAMIR SHAH
27 April 2017 at 14:21
'A' a dealer in Mumbai purchases goods from 'B' in Pune and instructs him to deliver goods to 'C' in Kochi- Kerala. What is the rate of tax to be levied by each party and forms to be issued to each other.
parthabandhu guha
27 April 2017 at 13:39
I have transferred rs.15 lakhs to my senior
citizen mother's bank account. This money I have got as my retirement benefit like provident fund, gratuity etc. My mother has
no other income.
Now I want to know whether my mother will have to pay tax on it ?
Whether I have to pay tax on the interest amount accrued on the money ?
Please clarify the position.
harshit mehta
21 April 2017 at 23:56
A dealer at Ahmadabad purchase goods from B at Baroda and sells this goods to C at Surat. But goods directly sent at Diu(warehouse of C) from Baroda. then which tax (VAT Or CST) is applicable to A?
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