Kindly let me know whether pre-mature withdrawal (within 5 years of investment)from Provident fund is taxable?

If yes, then is employee as well as employer contribution (both) taxable?

X has purchased house property on 1/4/09 jointly in his name and his
father Y and his mother Z. All invested the funds equally.

Y, his father gifted his share 1/3 to son X on 2/4/09.

Z, his mother gifted her share 1/3 to son X on 1/10/09.

X got rent for April to September 2009 and same was shown in incometax return, 2/3 (his + father share).
Gift has been confirmed byparents, but registration formalities are not complete.
Can ITO say that as the
registration is not done, the property remains in three names and rent

X has sold a piece of land and invested in residential house fully, out of the sale proceeds of land.

The residential house was purchased in name of self - X and his son Y.

Dose he violate the conditions of Sec. 54F.

As per sec 40 A (3), sum of Rs. more than 20,000 can not b paid in cash.

So my ques. is dat ?

Can we deposit more than 20,000 cash directly in Supplier's Bank A/c instead of cash paid to him.

is that allowable ?

How does the AO come to know whether the person has to pay income tax in the previous year itself?

if profit added by the buyer to resell the goods is as a % of cost price to him ,then the vat paid by him should be included in the cost price???? or

the cost for adding th eprofit will be excluding vat paid??

A.O. issued the notice for A.Y.2008-09 on 21/06/2010 ,(after the time limit)now what to do as he served one more notice to assess income u/s144
As original notice is not valid ,what to do.???
Please give some case reference for the same???

Whether tax on freight ( Sea Freight ) is to be deducted eventhough the company providing sea transport facility quote PAN in its bill?

1.Our company XYZ LLP owns empty commercial land 20,000 Sqft Land (bought 25yrs back for only Rs 1lac). Our biz is in the biz of dealers in Industrial supplies. We have possessed the land in our books for the last 25yrs as only a capital asset. We now want to get into a Joint development with a developer to build aprts on this land@60/40 Ratio. Will the sale of our share of built up aprts and UDS of land be construed as CAPITAL GAINS or BUSINESS INCOME? Any insights will really help. Thank you

Hello!!
I m Kumar

My friend is working in TCs , In Jun10 he is tranfered to norwich for 2 yrs from COMAPANY so he wants to how in those 2 yrs to file his returns , he recieves salary their and even for FY 08-09 he has not filed , what abt April to jun 10 when he was in india???
I Heard that some tax set off will be done in his return???

Thanks in Advance