daman garg
25 January 2014 at 15:08

Salaries

will the gardner's salary is taxable in rent free accomodation

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Anonymous
24 January 2014 at 22:58

Tax on dev agg

I have entered with dev. For developing property with developers
1- i surrender land to him for construction of flat

2- he will provide me one flat(total of five) at cost x consideration. But i dont have to pay X amt

3- remaing four flat he will sell his own and i have to sign sale deed as land owner and property

4- he has paid me y amt towards land cost of for four flat at the time of dev.aggrement

5- for four flat i have given right to collect sale amt to developers

Question

Income tax liability as capital gains on which amt X or
y or X+Y

Service tax liability if any
Mayank dave

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Digambar Nana Chaudhari
23 January 2014 at 16:25

Tds on foreign remittance

Dear Sir,

A Client of mine has paid USD $1500 to a foreign association who is situated in Philippine. The remittance was made on account of Stall booking charges.Whether TDS should be deducted under section 194C or 194I?
Please suggest the procedure for the same.

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anant

Dear Sirs,
Assessee who has started construction business is owner of a piece of land which he received in his family partition. Now he is building a multi stoyeied apartment on his own land and he intends to sell the flats to prospective buyers.My question is-
1)Is the assesse converting his capital asset to his stock in trade in the whole process?
2)If yes then is the assesse liable to pay capital gain tax and when?
3) At the time of starting construction or at the time of selling the individual flats?
PLEASE REPLY SOON
THANKS

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Anonymous
22 January 2014 at 21:57

44ad

Dear Sir,
I am opting section 44AD since 2 last years and in AY 2013-14 I had deposited self assesment tax of Rs. 60000/-. Now I have received intimation from local office to deposit advance tax in respect of AY 2014-15. As U/s 44AD (4) provision related to advance tax is not applicable in such case.

Now what is the remedy in my case.

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Anonymous
22 January 2014 at 18:35

Form 15ca & cb

WHETHER FORM 15CA & CB IS APPLICABLE ON REMITTANCES FOR IMPORT OF GOODS & STORES.(PLEASE NOTE THAT FORM NEW 15CA SPECIFIES THAT PART A & B ARE TO BE FILLED IF THE REMITTANCES IS CHARGEABLE TO TAX)

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Anonymous
22 January 2014 at 16:52

Tds from payments to non - residents

Whether tax is required to be withhold while making payment to the foreign holding company by the Indian Subsidiary Company for:

a) Re-imbursement of legal fees
b) Contribution towards share of common professional fees incurred on behalf of global subsidiaries,including Indian Subsidiary

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Arun
22 January 2014 at 16:31

Audit under section 44ab

Is it compulsory to do audit under section 44AB in the following situation?

Turnover 80,00,000
Deemed profit as per section 44AD:-560000(8%)
Actual Profit shown :- 1,50,000

As per section 44AB when we are showing profit below 8% and income exceed the basic exemption limit than audit is compulsory.
Since my income is below 200000 audit is not compulsory as per me.
Am I Right?
Please help me

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Subodh Kumar Goel
22 January 2014 at 14:24

Clubbing

If husband transfers Rs. 1 Crore to his wife @ 5% interest and wife earns from the same @8%. Whether the difference of 3% (8%-5%) will be clubbed as income in hand of Husband.

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Anonymous

While completing Assessment u/s 143(3) of Income Tax Act, 1961; AO added certain portion of Agricultural Income (not disclosed in return of Income filed by Assessee u/s 139(1), but declared during the course of Assessment Proceedings) as Income from Other Sources. AO further imposed penalty u/s 271(1)(c) on such income. However is Section 271(1)(c)applicable to such Agricultural Income not declared in return of income but declared during the course of assessment proceeding?

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