Respected Sirs,
I transferred 8 lakhs to my wife's bank a/c with intention to purchase a plot of land in her name by utilizing the transferred money . Thereafter , a plot of agricultural land has been purchased vode a registered sale deed in my wife's name by utilizing that transferred money . Now my confusions/queries are as follows;
1) What have I gifted to my wife in the eyes of income tax laws -the money(8 lakhs) or the agricultural plot?
2)How to show (documentation) that the same was gifted?
3)Will the income be clubbed with my income??!!
4)How will agricultural rent be treated?who will show it in returns?
5)If the agricultural land is sold whose capital gains will it be.mine or wife's?

reply soon thanks

I have purchased a duplex at Bhopal . registry of land of rs 6.50 lac was made by builder in favour of me.I have taken a home loan of rs 20.00 lac over it.the builder is constructing the duplex . at each construction levels he is charging ST on the amt. is this correct ? if yes than can I get any advantage of this ST paid? in my ITR

Two bothers have inherited property from their mother, so it's not a wilful association. The total rent is 16 lacs p.a. - 8 lacs for each brother p.a. Is the Service Tax applicable in this case?

i am an article.plz someone tell me name change procedure.weather new certificates and marksheets will issue to me ith fresh name which are already issued. what will be the cost of that. weather i have to make changes in 10th 12th and university level also.

If an AOP which is exempt u/s 10(23C) of Income Tax, Act, 1961 gives salary to relatives of a member who are highly qualified and experienced for administrative and teaching jobs,

can this exemption be cancelled on this basis?

Issue-1: Flex boards installed for advertisement are to be treated as Fixed Assets or as revenue expenditure?

Issue-2: Packages taken for foreign trips whether tds to be deducted of travel agency?

Can 3 month gap between date of commencement of article ship and date of deed execution is acctable?

I'm an imported Coal supplier with Business established in Chennai, Tamilnadu. We buy Coal from various importers on VAT basis. We do local sales as well as CST sales but majority (almost 90%) of our sales is CST sales. In our case we buy cargo by paying VAT@5% and sell the same by charging CST@2% to our clients and we have been carrying forward the excess difference of 3% to next Month. This practise has incurred a lot of ITC. But now there is an amendment in TN VAT rules which explains from November ITC can be carried forward only if appropriate inventories is reported.
1) Now I was attempting to file my November Month return. I have an ITC of Approx 11 Lacks but stock as per my ERP is only 300 Tons, which explains that value of stock is just 1400000 lakh Rupees only on which i can claim an ITC of 70000 Rupees only. Can any one help me in resolving this situation .
2) Secondly it seems there is another amendment where the differential VAT should not be carried (as like before) forward instead that should be reversed back in that month return. So my question is, is this amendment true?

I see there are so many experts over here. I sincerely and humbly request somebody to help me over here.

Hello sir,

Suppose a company has taken loan of Rs.3600000,

[A] co. receive Rs. 3400000 through bank:

Bank Dr. 3400000
To Bank loan 3400000

[B] Advance EMI Deducted by bank

Bank loan A/c Dr. 150000
To Bank Loan 150000


[C] Stamp duty[expense of company] directly paid by bank

Stamp Duty Dr. 50000
To Bank loan 50000

Bank Loan Dr. 50000
To ?????? 50000

Now which account should i credit to settle loan account ??

thanx.

if there is violation of accounting standards that need to b followed den whether auditor needs to issue qualified report or adverse report?