There is a land on the name of 4 people.

Now they want to gift the land to people who are their relatives u/s 56(2)(vii). So no tax will be levied on the same. A proper registry of the gift will also be done by paying stamp duty.

Now the people who have got the gift want to construct flats on the same and then sell them.

They are receiving the gift as a capital asset.

So implications if:

1. They show the same as capital assets and flats constructed as cost of improvement.?

2. They convert the same into stock for business and claim construction expenses.?

3. Any other way you may suggest.?

Whether NRI has to show his income earned outside india in his return of income?

If yes where it can be mentioned in the return of income?

If you know please specifically provide the clause no. of the ITR 1 to 4 where this income needs to be shown?

can someone send me drafting letter in respose to notice u/s 142 (1) regarding the ITR true copy which was already filed by the assessee.

My client (A Ltd) is a subsidiary of a German Co (B Ltd). B Ltd has one more subsidiary in Russia (C Ltd). C Ltd has one client in India. However that client can not pay to C Ltd without deducting with holding tax @20%.
A Ltd can not bill that client directly because in that case A ltd will have to treat the same amount as part of its turnover and pay service tax and Income Tax thereon.

Is there any other way to save with holding tax amount for C Ltd?

When Closly held co. give loan to its subsidary co. weather sec 2(22 (e) is applicable

one of my clint has earned commission income from usa based company. they have deducted withholding tax on it. now i want to know that wether the commission income is again taxable in india or not.

MY COMPANY GOT A CONTRACTS IN UK FOR 20000 POUNDS .U.K COMPANY DEDUCT OUR T.D.S IN POUND OUR REGISTERED OFFICE IN INDIA.WHEN WE FILL INCOME TAX RETURN T.D.S IN POUND IN VAILD OR NOT

Reposting because I had marked my previous query resolved by mistake.

Hello,

I left my first job on Feb. 23 2009 and withdrew my PF. (I worked for 3years)

The same was credited to my account in July 2010.

I again changed my job on Sept. 09 2010 and again withdrew my PF. (I worked for 6 months)

The same was credited to my account on Feb. 18 2011.

I filed my tax return without mentioning these PF withdrawl. As I looked up my form 26 AS (after filing my return), I see that there is a mention of TDS deduction for my first PF withdrawl but there is no mention of PF withdrawl for the second case.


Here are my queries:

1. Whether all of employer's and employee's contribution to PF if withdrawn taxable or only "employee's contribution is taxable"

2. Do I have to mention both my PF withdrawl in my IT return statement?

3. Why did the second PF withdrawl didn't get a mention in my form 26AS online? Did they not deduct any TDS or they didn't pay it? I do not have any statement.

Oli cleaning activity is whether covered under tax audit or not??
please its urgent so let me knw we have file return.

good evening to all expert
plz tell me that if I m from chennai but now I m doing job at uttarakhand(kashipur). When I will fill my return than in ward circle column of sajah itr 1 which ward circle I will wrote. If I will wote my circle than it will right or wrong.while I m submit my return at kashipur income tax office plz help. what i will wrote in ward circle column

Thanks In Advance