I have purchased a plot of land of Rs 1.00 Lacs in 1996 with co ownership 50 % Equal Share with my wife.

I have made construction over the plot in 2007 of Rs 10 Lacs

And in 2008 I have sold the house for Rs 18 Lacs.

Pl clarify my Tax liability and whether it is long term Gain or Short Term Gain

Dear Sir,
Whether VAT is applicable on Booking Advance received for Flats under construction.

Hi Everybody
Could you please throw some light on

Whether provisions of TDS are attracted for sponsoring an event?
Ex. A corporate wants to sponsor a sports event of students of a University College. The amount is not paid to the University but to the organizing committee of the event (of course by way of crossed cheque to the credit of a specially opened bank account for this - like say "XYZ College Sports Day 200X")

Pl slso clarify the position if the amount is paid to the University which is established by an Act of Parlament.

Thank you

In a public ltd co., MD is the responsible person to deduct TDS and sign the returns. Till now, he is signing the returns. Now we need to file Income tax returns and ROC returns. I want to know whether it is compulsory for MD to sign the returns or any other director can sign the same.
A CA has told me that in a company any return (ROC, ITR, TDS)can be signed by a director merely by passing a board resolution even if there is a managing directorin the co. Is it true. Please guide me.
Thanx

What do u mean by arbitration?

Dear Sir,

My brother has purchased a house no 1 in 2007 by taking housing loan
suppose if he wants to purchase house no 2 and if he Prepay the loan of house no 1 and gift the house no 1 to the mother in the year 2009
My query is as follows.
1) Than whatever the deduction he has availed will be added back to his income and will it be taxable since he is gifting the house no 1 to the mother whithin 5 years from date of purchase

2) If he purchase the house no 2 by taking housing loan than can he treat this house as SOP if yes than can he avail the deduction U/S24 and 80C i.e. total amt Rs 2,50,000/-as per the both section mentioned

3) Suppose the my mother has given the house no 1 to rent which she has got from my brother by gift than the Rental income will be clubbed in the income of my brother

Regards

Ravi Konda

Can some one elaborate on the meaning of the word "corresponding goods" used in
MVAT Act for the purpose of retention
of input tax credit under rule 53 (3)

i have crossed limit of rs.10,00,000 this uyear if suppose i dont cross limit of Rs. 8,00,000 in the next year than shall i requried to pay service tax if i have not collected the same and am i liable to collect the same or not

At What Rate TDS Should be deducted for Providng Pick up and drop facility.

Dear Sir/Madam

Is it mandatory for filing Form 23B for the year 2007-08?
If yes, is there any fine or penatly for the same?
If we have not filed is it required to file the same now for purpose of SRN No. or can we file the Annual Return by just putting z999999?

Please confirm

Thanks
Regards
Ram