Dear sir,

I would like to know the consequences of non compliance with Sec 54 in the below circumstance;
Mrs. A (mother) sold a residential house and purchased another house property thereby claiming exemption U/s. 54. Within a period of 6 months of such transfer, she gifted the property to Mr. B (her son) & hence non compliance with the requirements of Sec 54.

In the above case, what will be the consequences;
1) Whether Mrs. A will have to pay the tax amount immediately on gifting of the property.
2) Will Mr. B be liable to pay the same in the event Mrs. A expires
3) Will Mr. B be allowed to claim the cost of acquisition of such property in the event that Mr. B sells the same after few years.

Please advice.

Dear sir

pls clear my confusion that my company is a realeste I have to raise commission and brokerage to my debtor(clinet) and whenever i due service tax and other way i have to investment for Office promises and Business perpose in this case can i take service tax credit ?

property purchased in 2001 rs. 915000

property sold in 2007 rs 25,00,000/-
(as per sale deed rs. 25,00,000/- but actual sale for rs. 3,20,00,000/-)

case is in scrutiny,
A.O. told us paid tax on 3,20,00,000/- less indexed cost of rs. 915000/-

what is the remedy available to save tax?

Plz tell me that whether I need to deposit fees for the form downloaded from net and submitted to the ICAI because ICAI sell these kinds of form for money. form like 102 103 112 109

Hi, Please suggest me on this issue:-

One of my friend file a paper return for AY 10-11, but fails to claim total TDS refund then he file a online return for same AY but not file as a revised return select the Original return option in ITR 4, so he did not get refund due to this error, total refund is more then Rs 1 Laks, Dept denies for refund what can we do in this situation is there any option. He did not received any intimation for this.

SIR,
WHAT IF TDS NOT DEDUCTED BY US WHILE MAKING THE PAYMENT TO PARTY WE PAID FULL AMOUNT TO PARTY...CAN WE ADJUST IT IN NEXT BILL OR NT..??

THANKS IN ADV..

A firm provided security services to a company. Firm Charges 3.09 of Service tax amount on its bills from Company.
Company paid entire Invoice amount including 3.09 of service tax amount to Firm and also paid 75%(9.27 of service tax) to govt under reverse charge.
Can company claim the 3.09+ 9.27(12.36 service tax amount ) as credit in its books??
If yes...what is the booking procedure??

Dear Experts,

We are in the business of Manufacturing & Exporting.

We take a CENVAT credit on the purchase of Raw-materials, Consumables, Tools & Spares.

We debit the CENVAT when we make a DTA sales & stock transfer.

We export the goods under LUT & Under Rebate.

When we export under Rebate,we debit the duty and get the same amt as rebate.

As we export mainly under LUT, lot of CENVAT has pilied-up.

I would like to know, whether I can get the CENVAT amt lying refuned.

Thanks a lot, in advance.

I hv filed ER1 in month of dec13. The issue is suppose excise duty was payable Rs.10000. So v paid Rs.4000 through PLA. Bal Rs.6000 payable through Cenvat Credit. But in Cenvat Credit column v showed 6100 available n claimed full 6100. Actual issue is that in current month, had purchased a capital asset on which Rs. 200 was Cenvat n I should have claimed Rs.100 in current yr n next year Rs.100. What should I do since Rs.100 was excess paid!!! Should I intimate d department since the amount is Rs.100. Will I be able to claim this Rs.100 in next year? Wat procedure should I follow?

I have made "agreement to sale without possession" for purchase land of value of rs. 700000. for which i have made payment of rs. 70000 only and not made any other payment thereafter.

Then after 5 years, the original owner sold the land for rs. 1 crore and gives rs. 25 lakhs to me as confirming party.

As a confirming party i am liable for capital gain or not ? if yes, then how to calculate CG ?