Issue ID = 1812

What is the tax status on a deferred annuity policy. As per me there is no clear guidelines around the same.

Total Replies - 0

Issue ID = 1811

Would services provided for the construction of Post office building fall under " Commercial or Industrial Construction Service" given that Post office is a service of the Governement of India and not a commercial organisation?

Total Replies - 0

Issue ID = 1810

What is the validity of a No Permanent Establishment Certificate(from a deductor's point of view). For eg if a certificate is dated 05-Sep-2009, from the Tax Deductor's point of view , till how long it is valid ?

Total Replies - 0

Issue ID = 1809

What is the limit of Exemption of Gratuity under Income Tax Act in the case of Gratuity received by employee after regular retirement of PUBLIC SECTOR UNDERTAKING (e.g. NTPC). Is there any recent change in this provision?

Total Replies - 0

Issue ID = 1808

what is vat on silvermixed jewelery,example if the base content of jewelery has 30%and rest is metal or is 50-50.and metal jewelery with semi precious stones.vat for delhi,up,haryana.

Total Replies - 0

Issue ID = 1807

what is the procedure to claim TDS if PAN NO is wrongly quoted in Form NO 16

Total Replies - 2

Issue ID = 1806

Dear All Members , There is a doubt regarding applicability of Section 44 AB on a assessee and I will be highly oblidge if somebody can clarify the same . A was doing job work in a factory during 2008 -09 financial year and his gross receipts are slightly more than 40 Lacs. A was also running a proprietoryship business having TIN no. and his sales from that business was RS. 3.2 Lacs during the year 2008 - 09 . Here what is the best option as he has contacted me during march ,10 and I saw the above facts . Whether I should do Tax Audit U/S 44 AB as his total gross receipts is more than 40 Lacs including Proprietoryship concern or I should apply 44 AD and calculate 8 % of gross receipts and prepare profit and loss account for his proprietoryship business and file the return of income .As no tax audit report is to be filed in hard copy whether the provision of penalty provisions will apply if I go for tax audit report and file the return of income in march 2010 ? I have approched many my professional brother but no body can clarify the matter in clear terms . Thank to all ( BAL KRISHAN GARG )

Total Replies - 1

Issue ID = 1805

An assessee firm filed it’s Return of income in electronic form for the assessment year 2007-08. The firm is contractors. The case was selected for scrutiny assessment in CASS. In response to notice u/s.143(2), the representative of firm had appeared before the AO, and submitted a letter along with paper return (ITR-5), Audited balance sheet, profit and loss account, duly signed Form 3CB and 3CD and stated in that letter that due to the pressure of work of partners of firm, the partner are not able to produce the books of accounts called, and in order early completion of assessment, we offer higher income at 8% on Gross contract receipts. The AO accepted the offer of firm, and completed the assessment u/s.144. The AO allowed the interest and salary payments to partners from the income determined at 8% of Gross Contract receipts. After four months, the AO issued a notice U/s.154 to the assessee firm, and stated that the assessment was completed u/s.144, the assessee was not entitled to deduction by way of any payment of interest and salary to partner in view of provisions of section 185(5) of IT Act. Hence it is proposed to rectify the said mistake which is apparent from the record by disallowing the assessee claim for payment towards partner’s interest and salary. Please state whether the action of AO is correct with regards to Assessment completed u/s.144 and issue of notice u/s154? Please state relevant case law if any. E-mail: rktandassociate@yahoo.com

Total Replies - 2

Issue ID = 1804

Dear all members , I will be highly oblidge if somebody can clarify the matter related to service tax . Actually , Show cause notice demanding Tax have been served on the assessee during the last week of Sep.,2009 and accordingly reply have been filed duly acknowledged on 9th Nov.,2009 after getting the extension of time . Now the question arise in my mind that Is there any time limit for the disposal of the case within the department as no further question have been asked till date from the assessee .Almost 4 months have already been passed from the date of reply submitted to the department . Further whether there is any responsibility of the department to give its clarification regarding the issue which was not taxable from the service tax angel in my reply submitted to the department. Please clarify the legal position regarding the time limit if exist to further action and whether the department is bound to give it is writing that the alleged job work is not taxable in the service tax at all . Thanks to all members. ( BAL KRISHAN GARG ) e-mail id : gargbk2001@yahoo.com

Total Replies - 3

Issue ID = 1803

We have shifted registered office of the company as well as whole business from Kolkata (West Bengal) to Maharashtra. Whether we need order of commissioner, Kolkata under section 127 of IT Act for shifting of our IT file/jurisdiction to new place or a simple letter for shifting of file will be sufficient.

Total Replies - 1

Issue ID = 1802

Dear Sir, Since there is a change in the Budget on 'Renting act' restrospectively from 1st june'2007 making 'Rent itself is a taxable service' now, Do we need to pay Interest and penalty on the rent whichever is not paid earlier.

Total Replies - 3

Issue ID = 1801

Our Company is mfg co. We are setting up a new unit at Tronica City . We are claiming Service tax on construction bill of building for payment of excise duty. Our assessing officer deny it. He told you can take service tax credit on renovation of factory , not on construction of factory. Please tell with supporting document. Thanks in advance. Ca. Bijender Bansal

Total Replies - 1

Issue ID = 1800

Dear Sirs, We are exporting GHEE, Presently Excise duty is Nil. Will i get any incentive for my export?.

Total Replies - 1

Issue ID = 1799

whether value of material supplied to the contractor during a construction contract is to be included in the value of taxable service?

Total Replies - 4

Issue ID = 1798

the finance bill has extended the scope of prevailing service "complex construction" by introducing an explaination that unless the entire payment is made by the prospective buyer to the dveloper/builder the activity of construction would be deemed to be a taxable service and charged accordingly. If in a ongoing project under construction (pending occupancy) a customer has booked an apartement under an registered agrt for sale and has paid a part considertion of say 3 lac as against the total sale price of 10 lac. whether the 3 lac paid would be exemped and 7 lac would be subjected to service tax. however the board Circular No. 108/02/2009 – ST dt 29.01.209 which states that"It is only after the completion of the construction and full payment of the agreed sum that a sale deed is executed and only then the ownership of the property gets transferred to the ultimate owner. Therefore, any service provided by such seller in connection with the construction of residential complex till the execution of such sale deed would be in the nature of ‘self-service’ and consequently would not attract service tax" can we avail the benefit of the above circular and would the enite 10 lac be exempted ? and only sale agrt ented post the expalination would be subjected to service tax

Total Replies - 1