vishnu123
22 October 2016 at 11:03
One of my Clint have purchased a property on October 2007 for Rs. 656000 +44000(registration charges) = Rs. 7 lac. Sold that property for Rs. 1050000/-in March 2009. He did not file ITR that time. Before sell that property invest Rs. 125000/- for finishing & furnishing of that property in Dec-2007.
ITO send him a notice u/s 148. he is unable to prove sources of purchase because somebody else made this transaction on his name. I want to know how much tax & penalty they will charge on him. Is there any way to save or minimise tax & penalty.
Dear Sir, Somebody else means- one of his known earn profit by sell- purchase of this property on his name. Actually that time my Client was not aware about rules & regulations of Income tax.
santosh
16 October 2016 at 15:36
one of my client is a registered civil contractor under wb vat act. He has 1 truck which is running in hire. In IT file he sawn truck plying income under bussiness income head. He shown Income from General order supply of sand, bricks & chips stone in Bussines income head.His transaction in civil contract is nil.There is no any bank transaction of civil contract transaction.In vat assessment what can sales tax officer do? Can ST officer impose penalty and interest on gross receipt of general order supply of Stone Chips, sand & Bricks? Can S.T. Officer also impose penalty in gross receipts of truck plying income? Please anybody reply about provision & rules about above said matter. Is there any way to save my client from levy of vat tax? Please reply
I am eager to know answer.
somaj sagolsem
14 October 2016 at 14:28
my business income is 900000/- (nine lakh) only. i File my income tax return in itr 4 in non account maintain. then cpc sen a notice under section 139(9). I also submitted that it is not need to send balance sheet Is it true or what? If wrong, kindly tel me what to do now.
som
ANANDAKUMAR K
13 October 2016 at 14:11
SIR
I HAVE RESIDENTIAL PLOT FOR SALE AND I WANT TO KNOW WHAT IS THE REINVESTMENT PERIOD ALLOWED TO AVOID CAPITAL GAINS TAX.
ANNADKUMAR K
sandeep Upadhyay
12 October 2016 at 14:57
If I have a three manufacturing unit in gujarat in three city . To take separate registration for each place mandatory or optional under GST act?
vinodkumarpal
12 October 2016 at 13:50
Hello experts sir sale agt form H show in which column of Online sales tax return in vat and non vat annex
santosh
04 October 2016 at 22:08
on behalf of one of My Client I attend the vat assessment for 01.04.2014-2015. He is a civil contractor. He is registeredd in WB Vat Act. He has no any contractual income. The Transaction is Nil. Only Starting June' & Sep'14 Nil Return has been submitted.In Income Tax File he shown Business Income Head Genaral order supply of sand, Bricks & Stone Rs. 85200/- and Gross Sale is 430300. His June & September Qtr. of 2014 is submitted as nil Return., He has a Bank current A/c in the Firm name but not shown in Income tax File. In Current A/c Rs. 70000/- Deposited for small Contract Job for which no TDS & STDS is Deducted. The Current A/c is not shown in Balance sheet of F.Y.-2014-15.In Balance Sheet Under Bussiness Income Head General order Supply Income & Truck Plying Income Rs. 188900/- shown and Gross Receipts from Truck plying Income is shown Rs. 1111200/- & exps. there on 922300/-. I submitted Balance Sheet & I.T. Return to Sales Tax Officer. He says that He will impose penalty on Gross sale of General order Supply & Truck Plying Income. A Huge amount of tax he will calculate. Now I am in Great Tention. Please any body say how i will stop the s t officer to impose tax? I am waiting of reply of any consultant. My Email ID-santoshsharmas65@gmail.com
Vivek Laddha
04 October 2016 at 12:33
One assessee has received the notice for income tax and the tax recovery is much likely.
He has 2 assets i.e. House (Market Value-40 Lakhs with Home Loan=12 Lakhs) and car bought in 2013, but not the money in hand and bank.
0)Can the client transfer his home to wife before Income tax applies provisional attachment?
1) What can be the issue to bank?
2) What can be the issue to Income Tax?
3) Can Income tax apply attachment provision retrospectively?
4) Could the Income tax department attach the property even after transferred to wife?
Santosh Kale
04 October 2016 at 07:48
Dear Sir,
Our builder have charged 12.5% service tax on one time 2 years advance maintenance charges & have given a receipt of maintenance charges only.
Is it applicable?
Pl advice.
With regards,
Santosh
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How much tax should i pay?
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.2,50,000/- on 18th October 2016. I intend to know what kind of tax should I pay for this and how much?