Query

Suppose Mr. A is the owner of Flat (Holding 750 Sq. ft.) in the XYZ Apartment since 1980. In the current scenario, the condition of apartment is not good and hence the member decided for the repairs. However one of the builder ABC developers approached to the said apartment owners for the redevelopment and following are the terms which are as under:

1. Owner has to surrender the Flat (750 Sq. Ft.) And in returns 1) Flat (1000 Sq. Ft.) and 2) Cash amounting to Rs. 5,00,000/- Per flat to be received by the owner from builder.

2. Society has to surrender all the rights temporarily for re-development and in returns Rs. 1 Cr as compensation from builder.

Questions to above receipts:

1. Treatment for the said transfer to builder?
2. Is the aforesaid transfer to builder is liable for the taxation as per income tax in the hands of flat owner? And if taxable then what would be treatment for the same?
3. What about the taxability of additional space received in turn of old flat?
4. What about the taxability of Cash receipt as compensation in addition to flat received?
5. How the Compensation received by the society is liable for income tax?
6. Any supporting case law in favor as well as against the assessee for aforesaid receipt ?

If one partnership firm changes its firm name then what will be the effect of it on its PAN number?

Whether it needs to inform the change to the income tax department or it has to apply for new PAN?

Hello there,

I have a query regarding filing to CLB

My client is 15% share holder and director in a Pvt. Ltd Co. which has another share holder having remaining 85% share holding as a director. this director without consulting anything with my client takes almost each and every decision. so now my client wants to resign and want his share amount alongwith profit of his share back. but the other director refuses to accept his resignation and do not want to return his share amount and profit. what remedy is available for my client? can he file proceedings before CLb? if yes then what is the procedure and stamp duty to be paid?

We want sale a machine. that machine imported from other country.when we purchased that machine value 809167. Custom duty,educational cess, secondary educationcess applied at that time. Now we want to sale that machine in local(tamilanadu)wheather cenvat applicable or not. if applicable what are the rates applicable, how to accountin the books of accounts

Sir/Madam,
Please tell whether CST is payable on freight charges ? Is there any other exemption or restriction attached to the aforesaid query ?

if pf paid after due date what happens!
whether employee or employer contribution is inadmissible U/S 43B. please send me reply.vinaybhargavkumar@gmail.com

Dear All,

We are a trust having business in education and having 5 branches across the Bangalore.

Now for professional Tax renewal of Rs 2,500 should we pay Just 2500 or 2500*5=12,500 ??

We got registered under Karnataka Professional Tax as one registration.

Regards






are having three branches in bangalore whose registration has done

If a foreign company is operating from a number of centers in India, its liable to file for the TDS return center-wise or at corporate level??

Respected sir / mem please give me suggestion urgent, my compnay's computation show a taxable income of business Rs.1,02,22,473/- and a short term capital gain Rs.2,69,333/-
i am pay tax on business income Rs.1,02,22,473/- @ 32.445% (30% tax + 5% surcharge + 3% edu & s & hs) & short term capital gain Rs.2,69,333/- @ 16.222/- (15% tax +5% surcharge +3% edu & hs)
i am right or wrong .

Dear Sir, how to make entry for
INSURANCE PAID 10000, FOR THE PERIOD 16-06-2014 TO 15-06-2015