Anonymous
06 April 2010 at 10:42
I am a housewife and a non taxpayer. During Fy 2004-05, I had purchased a residential plot which I sold in Fy 2009-1010 and purchased a residential flat seeking full Capital Gains tax exemption under Section 54F and 54EC by buying a residential flat and NHAI bonds from the entire 'Net Consideration'. My query is, since I am in need of funds and intend to sell this residential flat in Fy 2010 – 2011, could you advise me on my tax liability by this transaction. My details are; Cost of plot(indexed): Rs 25,61,756.00 (including stamp duty); sale price of plot (Fy 2009-2010) : Rs 60,00,000.00; Cost of newly purchased residential flat : Rs 56,93,000.00; NHAI Bonds purchased for : Rs 3,25,000.00. Likely selling price of the newly purchased residential flat: Rs 56,93,000.00
In hindsight, would it have been wise for me to NOT to have re-invested in the residential flat and paid my tax then (Fy 2009-2010) and utilized my balance amount or the course of action which I intend to take now, as explained above, would prove to be a financially wiser action.
Anonymous
05 April 2010 at 20:04
URGENT
RESPECTED MEMBERS,
ONE OF OUR EMPLOYEE A CONSTUCTED HOUSE AT NAGPUR AND FOR THAT TOOK LOAN FROM CREDIT COOPRATIVE SOCIETY FOR THE EMPLOYEES OF OFFICE ,EMPLOYEE A CLAIM BENIFIT U/SEC24-A AND 80 -C AS PER INCOME TAX ACT 1961 THE OFFICE REFUSE TO GIVE BENIFITAS ABOVE AND ADVISE EMPLOYEE GET RETURN FROM INCOME TAX DEPARMENT MY QUESTION IS
1) WHETHER IS IT MANDATORY TO CONFER/GRANT BENIFIT AS CLAIMED ABOVE
2)IS THE ACTION OF MY IS LEGAL
Vijay Goyal
04 April 2010 at 12:08
In Budget 2010-11 Serivce Tax Imposed on - "In the "Construction of Complex Services", It is being provided that unless the rntire consideration for the property is paid after the completion of construction (i.e. after receipt of competion certificate from the competent authority), the activity of construction would be deemed to be a taxable service provided by the builder/ developer/ promoter to the prospective buyer and the service tax would be charged accordingly."
My point is :
1. What is the construction of complex services ?
2. Is it regarding the impose of service tax to any job done by the builder before the sale of propery(i.e. registry of such property).
3. Is serive tax imposed on registry value of any property.
Please help me to solve my problem.
Thanking you.
Anonymous
04 April 2010 at 12:05
In Budget 2010-11 Serivce Tax Imposed on - "In the "Construction of Complex Services", It is being provided that unless the rntire consideration for the property is paid after the completion of construction (i.e. after receipt of competion certificate from the competent authority), the activity of construction would be deemed to be a taxable service provided by the builder/ developer/ promoter to the prospective buyer and the service tax would be charged accordingly."
My point is :
1. What is the construction of complex services ?
2. Is it regarding the impose of service tax to any job done by the builder before the sale of propery(i.e. registry of such property).
3. Is serive tax imposed on registry value of any property.
Please help me to solve my problem.
Thanking you.
vijay dhiman
03 April 2010 at 17:51
R/sir,
wht is the new provisions in case of service receiver for f.y.2010-2011
a.if freight paid in case of
export sale of goods by road and by rail.
& b.in case of domestic sale of goods
wht is the new abatement amount for financial year 2010-2011.
Anonymous
03 April 2010 at 14:52
hello sirs..Can zerox works contractor Disclose profit U/s 44AD for Ass Yr 2009-10.
Thanx in advance
Ravi
03 April 2010 at 14:09
Hi, My building would be going into redevelopment in the near future. We are thinking of distributing the corpus fund received from the builder amongst the members.I would like to know whether it would taxable in the hands of individual member under the Income Tax Act?
Your early reply is appreciated.
vijay dhiman
03 April 2010 at 09:53
R/Sir
i want to a new st-3 form in excel format.
& knowing wht is the new provisions of service tax regarding services GTA & RTA
Goods transport by road
Goods transport by rail
and new t.d.s rates with exemption limit as applicable for f.y. 2010 - 2011
Ranjith
03 April 2010 at 04:48
Vodafone Essar is collecting Service Tax for the Service tickets (Recharge Coupons and Sim cards)from their distributors. The Service Tax is collected for the margin given to them and also for the margin given to the retailers,that is tax is collected for the maximun - MRP. In spite of this the Service Tax department is issuing notice to the Vodafonr distributors to remitt the service tax on the margin received by them since they are registered as a Business auxillary Unit and Vodafone as a Telecom Unit.Legal view point on this may be intimated since maximum tax was collected by the principals and demand issued again will amounts to double taxation for the same amount.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Notice u/s 221(1) of the Income Tax Act
One of my clients received notice u/s 221(1) under Income Tax Act on 03/04/2010 with reference to Assessement Year 1990-91 i.e.period of 20 years before.I am handling his file since last 10 years and he has never received any notice for A.Y.90-91.In the opinion of the client there is no unpaid tax liability however he is not having any records for A.Y.90-91.Is there any remedy ?Is there any time limit for issue of such notices?