Tax implications on sale of teak trees
This query is : Resolved
28 November 2014
hi
What are tax implications on the sale of teak trees grown in own land (4 acres) by an individual to a company ?
the trees have been planted during 1955 by assesse's grand father.
The concerned individual is a government employee having salary income only.
please reply me ..
Thank u.
What are tax implications on the sale of teak trees grown in own land (4 acres) by an individual to a company ?
the trees have been planted during 1955 by assesse's grand father.
The concerned individual is a government employee having salary income only.
please reply me ..
Thank u.
Rupesh Jain
(Expert)
28 November 2014
ITS UNDER AGRICULTURE INCOME
Message likes :
1 times
29 November 2014
thank u sir..
is there any tcs deduction by the company on the payment they gve.
is there any tcs deduction by the company on the payment they gve.
Rupesh Jain
(Expert)
29 November 2014
yes its 2.5% tcs.................
Message likes :
1 times
01 December 2014
sir
if tcs is deducted by company on the assessee , can it b claimed back as refund by assessee (individual).
Also is der any service tax or other indirect tax application on this transaction.
if tcs is deducted by company on the assessee , can it b claimed back as refund by assessee (individual).
Also is der any service tax or other indirect tax application on this transaction.
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