ahila jayaraman
17 July 2016 at 17:36
My daughterinlaw, a housewife, sold her residential plot of landi Feb 16, and there is a few lacs of long term capital gains. Her husband, my son is buying a flat in the joint names of himself and her. I hope, if the capital gains is remitted to the builder before 31.7.16, she need not pay LTCG tax. So far she has not filed IT return,since she does not have an independent income. Now, has she to file the IT return, since there is LTCG?
Goapl Garg
14 July 2016 at 21:46
I am a consultant.I have been awarded a contract from 28/06/2016 to 27/06/2017 for Rs.97000/- per month fixed payable to me by the principal against monthly Invoice. Please let me know if I have to charge service tax on this amount in my invoice and if yes then at what rate?
Please help.
rajesh singal
14 July 2016 at 11:46
Dear Experts,
I am planning to buy a bigger second residential property from the consideration and sale proceeds of my existing smaller house.
But the condition is that I will buy the bigger house before selling my existing house by taking house loan and then latter will repay the house loan from the consideration received by selling my existing house.
Is it allowed to claim long term capital gain tax exemption by reinvesting consideration received from first house and payment of house loan of second?
deepak garg
09 July 2016 at 12:24
Dear Sir
what is the rate of vat on phenyl in delhi and under which item code it will come.
Shailesh
08 July 2016 at 16:04
DEAR SIR
PLEASE ADVISE US A UNDER TAX IMPOSE ON THE SETS IMPORTED AFTER REPAIR COVERED THE FROM 38 & MENTION THE COST PRICE OF 38 THE A.O. IS IMPOSING TAX ON IT
BEST REGARDS
DK SHARMA ADVOCATE (AGRA)
9837021414
Vishal
04 July 2016 at 09:30
Respected learned members..
Whether Photo Lab Receipts (Works Contract) and Photo Studio Receipts are one and the same? Whether Photo 'Studio Receipts' are liable to VAT as per recent judgement of SC in Pro-Lab case?
Adv. Vishal..
Vishal
03 July 2016 at 16:20
Sir's can you please suggest me some remedies to settle past tax dispute before GST is implemented.
C.J.Sriram
27 June 2016 at 18:15
In view of the decision of the Delhi High Court in June 2016 w.r.t WP(C)2235/2011, what is the position of collecting of service tax on under construction flats, or flats to be purchased.
If a person book a new flat with UDS registration for land and a separate construction agreement registration as it exist in TamilNadu, should he undergo still the service tax element OR is it that it is not applicable after the High court judgement as above. Pl advise
Sanju
26 June 2016 at 14:03
A (P) Ltd. is a manufacturer that transfers stock from state of Punjab to another state X with NIL tax liability via transfer under Form F. In the Invoice it is mentioned in BOLD that it is Consignment transfer.
Goods are received by a Proprietor Mr. Ram in the other state X. Mr. Ram has taken VAT, CST and ET registration in his residing state (i.e State X). He gets Form F issued and submits it to the Company periodically.
Now, Mr. Ram sells the goods to customers of different category as follows:-
Category 1 - Sales made at NIL Margin
Category 2 - Sales made at 4 % Margin
Category 3 - Sales made at 12% Margin
Also Mr. Ram receives Commission at 2% on Goods received and sold out.
Mr.Ram pays Output VAT collected and also Entry Tax on value of goods received. However Entry Tax is Reimbursible by the Company to him.
Consequently I am confused as to the treatment of such transactions in Income Tax and Sales Tax in the hands of Mr. Ram the proprietor regarding following matters:-
1) Whether this transaction Comes under purview of Consignment Agent or Distributor? what will the nomenclature or nature of Business of Mr. Ram?
2) Whether Form F given is valid as per law?
3) What will be the Turnover in his hands (Mr. Ram) for Income Tax purpose?
4) Can Mr.Ram make sales to customers at high margin when he is receiving goods via Stock Transfer under Form F ?
5) Whether the company A (P) Ltd. has to take VAT registration in the transferee state X for showing stock transfer under Form F ?
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It return filing limit
Dear Experts,
I have never filed any tax returns because my income was always below the limit of 2.5 Lacs. Recently i have started a little trading in shares,but even with that my income does not go above this limit.Am i required to file return only because i trade in shares and not because my income exceeds the lower limit !