sir we have ancesteral land . my father and 2 uncles decided to construct buildings on it. my c a told me that there us no need of AOP or Partnership because we are developing the land ourself and not doing a joint venture with any builder.And no requirement of huf return filing. is it accioding to act. plese guide me on this issue in details. my email id is rakeshtaxation@gmail.com rakesh
I have purchased a residential property 3 months before selling my commercial property .the amount of purchase and sale was almost same but d amount used to purchase residential property was from loan taken from M/s ABC( a company not owned by me) . Now I have returned the loan amount by the sale of commercial property with interest on loan. Would I b still eligible for exemption from capital gain?? If yes den what are the court decision which I can refer.
Can any one suggest me one of my client working as contractor. He worked with a company in 2012-13.Company has deducted TDS but no TDS certificate is issued nor it is updated in Form 26 AS. Now there is lesser time to file ITR for 2012-13.How he should file his return.Whether he should claim TDS in his return.Further his taxable income will be lower as per Sec 44AD.
I have read that
1. If there is gain on sale of commodities then 60% of this gain will be treated as LONG TERM CAPITAL GAIN and 40% of this gain will be treated as SHORT TERM CAPITAL GAIN.
2. And period of holding does not matter in case of commodities like in case of securities
3. I have also come to know from another source that the gain from the commodities will be treated as income form other sources.
now I am confused and want to know that if there is gain on sale of commodities then whether it will be a short term capital gain and long term capital gain or it will be treated as income from other sources.
please confirm is service tax applicable on consultancy if yes - why if no - why please confirm
Sir I pursuing CA-CPT I gave my attempt which were held in dec-2013 but iam not qualified i secured 88 out of 200 marks failed with aggregate marks what do you suggest
How to pay return..i.e tds ,vat etc
i have sold my commercial shop for rs 5lacs in ay 11-12 which was purchased in ay 6-7 year for 2.70 lacs the difference of rs 2.3lacs has been invested in residential property in ay 13-14 the whole amount so what if any my tax libalites to pay
Sir ,
Assesee's(Indivisual) gross Income for FY2012-13 is Rs 545000.
80C deduction is Rs. 50000
Hence Net Income comes to Rs. 495000.
E-filing of return is compulsory in above case.?
Thanx in advance
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