if i have white a/c of rs 350000 and i purchased a land of costing of rs 1750000 and i want make it all white money to govt...apart from gift provision any gateway to make this white ac of rs remaining 1400000

Dear Experts,

One of my client has sold property (Capital Asset)at Rs. 20 Lakhs at a lower price than the value adopted by Stamp Valuation Authority Rs. 25 Lakhs. Now as per sec 50C Rs. 25 Lakhs will be deemed to be the actual sale price. But actually due to acute need of funds client sold the property at 20 Lakhs. Also the Sale deed shows Rs. 20 Lakhs and not Rs. 25 Lakhs.

Question:
1. Why the client will pay extra capital gain tax on Rs. 500,000 though he didn't received the money?

Your assistance in this matter will be highly obliged.

I want to calculate interest on service tax

My service tax is pending since july 2010

Pending details upto 31.03.2011 1,50,000/-

upto 31.03.2012 4,00,000

upto 31.03.2012 5,50,000/-

because interest rate is changed from 01/04/2011, it increased to 15% (for the assesses income not exceeding 60 laks) from 13%

So, i am not clear for the calculation of service tax whether it is liable to pay 13% or 15% or partially
and we are paying this service tax feb end

please clarify calculation as such case...
please help

Please also clear concept of interest on service tax...........

I booked an under-construction flat, the agreement of which was executed on 1st Feb 2010. The agreement value amounted to Rs. 40,11,000/-. Now the flat is ready for possession and builder has demanded payment of VAT at the rate of 5% of the agreement value which is Rs. 2,00,550/-.
I understand that the issue of 5% VAT is still pending in the court and final verdict is yet to be received.
As per my understanding the developers are allowed to compute the VAT using any of the following options:
1. Composition Scheme U/s 42 (3)- Under this scheme developer has to pay 5% tax on the agreement value. Land deduction is not available. Input tax credit is available subject to the reduction of 4 per cent.
2. Actual Expense Method U/r 58- Under rule 58, the deduction of Labour service charges is available on actual basis. Land deduction is also available. Set-off will be calculated subject to the condition u/r 53 and 54.
3. Standard Deduction Method U/r 58- Under rule 58, the deduction of land cost will be allowed. Thereafter 30% standard deduction from remaining amount will be available as per provision to sub-rule 1. Set-off will be calculated subject to the condition u/r 53 and 54.

As per these the developers can claim input tax credit. However the benefits received will not be passed on to the flat owner. Hence please advice what are the options available to me to reduce my VAT liability.

If the developer insists me to pay 5% of the agreement value what should I do to ensure that he passes on the benefit of input tax credit /favouring judgement to me? Please advice.

Hi,

TDS has been Dedcuted for the FY 2011-12 but Not taken into account as certificate was not avilable

Can the same be taken into account and taking tax credit the the FY 2012-13 ?

under compulsory conversion scheme i have get converted for ipc from pcc. i have gone through the procedure of conversion like filling and submission of conversion form, but at time of registering online for filling of exam form my regis. no. and DOB not match with the database.
plz advise k exam form kaise submit karu????

Dear Sir,
There is a govt. teacher, who has received an arrer amount of Rs. 70000/- in fy 2012-13, which is pertaining to fy 2008-09, besides this, in fy 2012-13 his salary is about 3.6 lacs.

Now please clarify on following points-
1. Whether he has to pay tax only on 3.6 lacs in fy 2012-13 or he has to pay on 3.6 lacs + 70k.

Please advise with proper remedy.
Thanks in advance.

i have passed group1 of ipcc and failed group 2.i have got 38 marks in auditing.so now i have a strong determination to get 90+ marks in auditing.I can't mug up the subject and also i don't have good writing skills to write on my own.so could anyone suggest me to get good marks and how to plan my prepartion for those 3 subject? reply plzzzz.

Dear Sir/Madam,

I am working in a proprietorship firm as an accountant. our annual turnover of Rs.70 Lac. please help me on below queries.
1)Turnover limit for tax audit - 70 Lac OR 1 Cr ?
2)8% Tax on which amount ?
3)Last date of return filling ?
4)can we take the salary benefit / exemption of HRA, Rent, Transport Allowance & 80c-80d of proprietor ?

kindly give me other legal information which will useful for me.

Thanks in Advance.

Raj

CAN U GIVE ME NAME OF ANY POLICY OF ANY COMPANY UNDER WHICH BENEFIT UNDER SEC 80DD IS RECEIVABLE