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.
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
raj
11 July 2018 at 16:44
Dear Experts,
I have purchased a house in August 2017 , cost of house was 22 lacs.to purchase house loan of 17 lacs taken by me from OBC. I have sale out a plot in February 2018 ,sale amount is 12 lacs which was purchased by me in 2010.purchased amount was 5 lacs.
I have deposited 12 lacs rupees for my home loan which I got after selling a plot.
My query is that I have to pay any tax or not for long term capital gain.
Thanks and regards
Raj
Somsuvra Mukherjee
09 July 2018 at 20:41
Respected Experts and my learned friends,
A partnership firm consisting of two partners (father and mother) used to render service of manpower. Adjudication of CCE resulted to levy of tax amounting to Rs. 30,00,000 for 2008-09. Appeal was preferred before CESTAT. Rs 3 lakhs paid. One partner died in 2010.Partnership ended as only one partner. Business stopped almost 99 % . Second partner also died in 2013. Business completely stopped. Appeal is pending. Received notice to appear before CESTAT. Matter referred to Division Bench of CESTAT.
Is the legal heir liable to pay Service Tax ? Business didn't exist after 2010 . i.e death of first partner.
If a lawyer appears, on whose power and whose behalf he is going to represent the matter as SCN issued on the partners in 2009 and appeal was preferred in 2010.
Should the lawyer represent the case suo motu on behalf of the legal representative as he has received the notice to appear a few days back on behalf of his deceased parents ?
But substitution has not yet taken place and legal heir is not yet in the record of the tribunal.
Legal heir didn't enjoy any estate of the deceased except a bhk flat and some cash.
What will be the stand.
Respected Experts, Kindly share your views.
Mohit Soni
05 July 2018 at 21:51
If I have received income by issuing debit note to customer against customer deny to give C form in this regard I have to pay GST on this income.
Anonymous
03 July 2018 at 18:14
My communication address (Delhi) in office (education deparment) is diifrent from my permanent address (where my family lives, Jind, Haryana). Can i give the rent receipt of permanent address for the HRA exemption.
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Itr filling
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 .