Anonymous
27 March 2010 at 13:04
Is there any provision of set-off for CAPTIAL GAIN (Sell of Residential Propperty), against property booked 4 years back but possession got recently ?
Thanks
Maharamchandra
27 March 2010 at 12:28
Sir,
Authority has granted adjourned and postponed our clients' matter and proceeding has been done taking counter sign of Advocate.
Now, Authority wishes to alter proceeding and also wishes to make hearing on time against adjouned dated granted earlier.
As a lawyer we intends to make hearing on adjourned date and not on time.
Kindly guid the remedy in this matter and relevant provision, if any.
Anticipating your kind expert opinion.
kaidjohar
26 March 2010 at 15:42
hello sir...my client is salried employee she taken loan from co op bk for built Hostel building .can she claim interest u/s 24.
Ravi Kumar
26 March 2010 at 13:35
I think in your case, the vat only should be levied on sale consideration and not on trade discount/turnover discount/sale promotion discount etc..
kaidjohar
26 March 2010 at 10:20
sir..my client wat to increase his capital through old gold sale of relative ..suggest me what is procedure and main point for tax planning...
kaidjohar
25 March 2010 at 19:37
hello sir..my client is salaried woman.she get proerty loan from co op bank for Hostel Construction purpose.Can interest is deductible u/s 24(b).
Anonymous
25 March 2010 at 14:18
If a person being a senior citizen 66 yrs, retired from service, is having no income other than interest on his saving and dividend from Indian companies. His gross annual income from all sources as mentioned above is less than Rs.2.40 lacs. He is having a PAN number. Is it compulsory in his case to file income tax return. What are the consequences if he failed to file income tax return regularly?
Shyam
25 March 2010 at 12:37
I am having a property for over 30 years on lease with all the rights for sub-lease, rent and construction etc.
Now I have given the same on leave license agreement through a broker and the brokerage paid to the broker has been deducted from the license fees.
Please clarify that the same is deductable or not at the AO is not allowing the deduction.
I have calimed deduction of 30% as per the I. T. act
Anonymous
24 March 2010 at 17:40
THE APPLICANT IS A TYRE DEALER AND DEALS WITH APOLLO TYRE COMPANY WHO IS A MANUFACTURER.THE APOLLO COMPANY CHARGES ALL TYRES BILLED TO APPLICANT @12.5% AND THE APPLICANT SHOWS FULL PURCHASE IN PURCHASE ACCOUNT.THE APOLLO COMPANY GIVES CREDIT NOTES i.e TURNOVER DISCOUNT,TARGET DISCOUNT,PROMPT PAYMENT DISCOUNT e.t.c. THE APPLICANT WHILE PREPARING TRADING ACCOUNT DEDUCT CREDIT NOTES FROM PURCHASE TO DRAW GROSS PROFIT.HERE IT IS TO MENTIONED THAT THE GROSS PROFIT DRIVEN BY APPLICANT IS ONLY DUE TO CREDIT NOTES AS THERE IS NO OTHER INCOME IN TRADING ACCOUNT.NOW TO DISCUSS MORE DEEPLY IF APPLICANT PURCHASE A TYRE FROM COMPANY OF RS. 100,COMPANY GIVES CREDIT NOTES OF RS 5 PER TYRE,THE APPLICANT SOLD THAT TYRE AT THE RATE OF 95 OR 96 i.e DUE TO COMPETITION THE APPLICANT PROFIT WHICH APOLLO COMPANY GIVES HIM PASSES TO CUSTOMER.
AT THE TIME OF ASSESMENT OF CASE THE STO ORDERED TO ADD VAT @12.5% TO THE TOTAL VALUE OF CREDIT NOTES.
SINCE THE APPLICANT PAID VAT @12.5% ON TOTAL PURCHASE IN MY OPINION IT IS WRONG TO ADD VAT ON CREDITNOTE, BECAUSE THE APPLICANT HAD PAID VAT @12.5% ON REALISED SALE.
PLEASE HELP ME.
KINDLY LOOK-
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 6694 OF 2008
(Arising out of SLP (C) No. 21538 of 2006)
AND
VAT on Goods Returned and Discount - Bombay Salestax, VAT, Servicetax, GST ArticlesBombay
Salestax, VAT, Servicetax, GST Articles
VAT on Goods Returned and Discount
VAT on Goods Returned and Discount
-N.T.Nirale, MA, MCom, LL.B. Advocate
Retd. Member-Judge, Maharastra Sales Tax Tribunal. Mumbai
CAN IT HELP ME.PLEASE HELP
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u/s 89(1) of I T
sir..my client received salary arrears from year 1990-91 to 2008-09 in Fin yr 2008-09 and Deposited in his PF a/c.He was also received salary arrears in Fin Yr 1992-93 for last 4 year He was claimed at that time relief u/s 89.So,my quesion is i want to claim relief in Fin 2008-09 for salary arrear recd in 2008-09 but last taken relief in the Year 1992-93 affect my calculation.if yes give me method of caculation..