R. K. SARASWAT
03 November 2016 at 07:03
I and my wife both are Salary Earners and getting HRA. I have two houses. One house is rented and in other house my family (Wife) is living. I am living out of Country due to my employment. Can I give my house to my wife on Rent and can my wife claim HRA exemption?
srsubramanian
01 November 2016 at 17:30
My service tax refund matter remanded back to original authority adjudication officer is not taking up the matter for fresh adjudication. I have requested over letter e-mail calling thru telephone and mobile. Every tine he will say he will issue a letter for hearing but never does it. What NEEDS to be taken for quick disposal of the case.can I make out RTI application to commissioner
Moncy
01 November 2016 at 10:35
I would like to know the implications under cst law in case of purchase return under cst after 6 months from the date of purchase.
K P KRISSHNAN
31 October 2016 at 20:54
Cancellation of Registration under TNVAT Act by erroneous; by the registering authority,request to retrace the same by e-mail and online complaint to the State Commercial Tax Authorities. Kindly suggest how to retrace the status while no reply or action from the authorities.
jiteshjain
28 October 2016 at 18:25
Hello All,
My freind Pratik is under going an scrutiny from Income Tax. The case is as follows:
His uncle started a business on his name of Diamond Trading in Surat. For the Business his uncle opened a Bank account in Axis Bank for the Financial Year 2011-12. He was just adviced to sign blank cheques and other activity of business was carried out by his uncle. He nither knew about what was happening about that business. When he received his Income Tax return the turnover was 100cr. in which the profits was only 4 Lakhs shown. Now, from last 1 and half years he was receiving notice from Income Tax to present the Sales and Purchase Register and Bank Statement. He contacted the uncle but uncle was not available at that moment.
Uncle adviced directly to visit the CA who had audited his accounts but CA refused to attend the notice on behalf of him. He contacted the orginal party who did all the transactions on his name. They also did not entertained him. At last he appointed a new CA to attend the Case. They both went to the Assesing Officer and informed him orally about the whole story. The AO issued 133(6) summon to the orginal party and the Bank to provide the details of my freind. As soon as the notice was received by the original party and the CA both became active and CA summited all Purchase and Sales register and Bank statements but that my friend had given him for submission. The AO asked for Letter of Authority from the CA but he didn't had the same and left. AO called my friend and told to give statement in written for the whole story but my friend did not submitted and left from his office as his new CA adviced not to submit because if the orginal party did not accept the case then all the liabilty would be transfered to pratik.
AO wanted to close the case by 31st Mar 2015 but was unable to do. In this Case the AO is not agreeing with the calculation of Profit Margin which is shown as 0.04% on the total turnover. AO says the profit should be atleat 4% on the total turnover rather than 0.04%
Please advise now what action should pratik take as he is innocent on the case and do not want any further liability.
Currently the Case is under an appeal in Income Tax but my friend has not attended the appeal. 2 Hearing were called out. for the same. Can any one advise what can he do now for saving himself.
Is there any possibility under Law to book a case against his uncle for this fraud.
Abhishek P. Godha
26 October 2016 at 15:43
One of my client is having their own land. Now they want to developed the same and to sell the plots for general public. Could you please guide me in respect of service tax applicability and tax liability on that. if any.
Thanks
RAJARSHI BAG
23 October 2016 at 21:16
I am a salaried person with annual salary of approx. Rs.5,00,000/-. I do tax savings of Rs.1,50,000/- under section 80C. Hence I have to pay at least Rs.10300/- as income tax for the financial year 2016-17. Now in addition with all this, I have sold some gold ornaments worth Rs.7,00,000/- on 18th October 2016. My in-laws gifted the ornaments to me and my wife on our wedding in March 2013. My wife is a housewife. Now I intend to know what kind of tax should I pay for this and how much?
Jay Narayan Singh
23 October 2016 at 16:33
I have file ITR for financial year 2008-09 & 2009-10 due to deduction of TDS. after that I have not file ITR Till date because my salary was not too sufficient that it will cross tax slab+tax rebate border line. My question is that is it compulsary to file ITR at any how. If yes then can I Submit ITR now for those financial year.
Sanju
23 October 2016 at 10:57
Dear Sirs,
I am doing as Branch Manager in SBI , one of the borrower had availed CC limit from my branch gone NPA 3 years back. Last year the bank had to do 100% provisioning for the loan and declare it loss asset in its books. We had file a civil suit against the borrower. When I scruitnised the document I found the borrower's father who had guaranteed the repayment of the loan is having a substantial deposit in his saving account. My querry is that whether The bank can debit the guarantor's account for the recovery of the loan or we have to get it attached by suitable court orders ?
regards
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Notice under section 133(6)
Plz reply ASAP(Income Tax Query)
I have a relative whose mother got expired in 2012.
He received a notice under Section 133(6) calling of information.
In FY 2008-09, her mother purchased a property from Mr S.
In assessment proceedings of Mr.S for AY 2009-10, assessing officer is seeking information for that transaction from my relative's mother.
In this notice, he demands complete information (purchase deed, patta etc) related to that transaction.
Now, can anyone please suggest what he should reply to the notice, keeping in mind that he don't want to disclose any information related to that transaction.
Whether he can reply it through online or there is a need to sent it by post ?
Additionally, he don't want to put his name into this, so is there any way to avoid his name.
Thanks in advance 😊