Dear Experts,
My client had purchased a 10 acre agricultural property in 2004 for Rs.25 lacs and spent on leveling,development, and construction of wall through out etc etc and the total cost of the land came around 47 lacs, and in the year 2007 she sold the property due to some dispute from the villagers to a prospective buyer for an amount of Rs.85 lacs as in where is basis. whereas the registration value as per sub registrar was 1.84 crs. for which the buyer after having negotiated paid 85 lacs in full and got the property registered for the sub-registrar value and paid the stamp duty accordingly.
Now my client has been served on a notice u/s 142(1)to produce relevant return of income from 2007-08 onward and pay the capital gains on 1,84 lacs- 25 lacs. The ITo is not ready to accept the sale consideration of Rs.85 lacs at any cost. he says it is done purposely to avoid capital gains.
Dear experts kindly advice on the same.

I am a dealer in Karnataka and i am an works contractor and opted for COT scheme.
However, i made CST purchases for my contract work and that to paying higher rate of CST( with out C Form).
my query is, whether i liable to pay VAT again on my CST purchases.

Kindly guide in this matter and do the needful.

Girish

I gave donation to the trust,which was registered by last six months.can avail deduction under sec80g

Hello Sir,

Our factory premises is registered Under MP Vat, however our Head Office is in Mumbai.
Now my query is if the goods purchased in Mumbai should charged with CST or Vat.
We have only registered under MP Vat.
Will it be charged on the basis of Delivery Address or as per TIN Registered ?

Dear Expert,
Plz provide me the solution ...If a comapany show negative cash balance in books of account..owner of the company does not know much abt this adjustment. This negative cash balance is due to heavy cash deposits in bank.Plz Suggest me the way hw i can adjust this negative cash or the way cash can be generated

i have file itr-2 of third party for ay 2010-11. There is refund of Rs.37778/-.
But they have demand of tax Rs.2540/-.
how can i sole this query???

Threshold limit for TDS on Rent is 180000/-.
While considering 180000 whether income from any other source is also included. For ex. suppose One have income from Business Rs. 550000/- and Rent income is Rs. 120000/-. Whether Tax will deducted on Rent Income?

my assessee use on equipment for manufacturing good life of this equipment is hardly 1 year(equipment replace yearly)
my query is how to treat in accounting ?
repairs or maintance or current asset?

If two separate bills are raised for a work done, one for material and one for labor, can the reverse charge liability of service tax be avoided for work contract as first can be treated sale from that party and second can be treated as pure labor contract with that party and since pure labor contract are outside the purview of reverse charge for work contract and only a contract in which VAT paid material is also transferred along with the labor are covered ?

hi everybody,
i am ganesh working in software company. now i got good offer in mnc company. they need my last year form 16 with salary slip details as a joining document. but my friend said that they can easily see my form 16 (past 5 years)
without my permission.

i don't think so how can see my details (tax) without my permission. kindly let me know is it possible.. if you say 'Yes' then 'How'.

Pl Advise me for this case..