Aditya Maheshwari's Expert Profile

Queries Replied : 9425

I am a Chartered Accountant in practice in Mumbai in the field of Direct Taxation, Audit, Company Law Matters and LLPs.

My motto in life is "Prepare for the worst and expect the best"

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CA Aditya Maheshwari

B. Com., A. C. A., DISA (ICAI)

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Shashikant says : income tax
Dear In case of section 54 we have purchase a residential house and use it for commercial purpose, exemption under section is available or not. if yes please provide the case law.

sankalp says : Service tax
I have file service tax return st - 3 online my company not have any transaction during the (april to Sept)after basic information i filed zero.Department rejected four time. Return has been rejected for the following errors : You cannot file return as Input Service Distributor only.Please Provide Taxable Service,Duty payable and Paid Details."

sankalp says : Service tax
hi Aditya please i want to confirm can you reply my quari now !

MOHAMMADANISH S. JETHARA says : CALCUTE THE LTCG ON FOLLOWING CASE?
it is land before 1981 on father's name 2 acres transfer to son from father after his death.so in this case land's cost is not available.now son had improvement & doing various related exp.in f.y.2009-10 like N.A Exp,stamp duty & other related exp is approx 90000/-.then after this land improved as resident plot and 6 plot sale totally 260000/- to different customers on f.y.2010-11.how show that remaining plot in books of a/c. sheet. will long term capital gain applicable. & how saw this process in I.T return of f.y 2010-11.pls solution on it.if son purchase new agri land will applicable LTCG?

Ratan Sharma says : 143(2)
I have a querry plz see whether my contention is correct. Assessee filed return of income u/s. 139(4) for the A.Y. 2010-11 showing NIL return of income on 31/10/2011. A.O. issued notice y/s. 143(2) on Dt. 15/07/2011. I am going to challange the notice on following ground. As per Sec. 143(2) Where return has been furnished u/s. 139 or in response to notice under sub section (1) of section 142, the Assessing officer shall........... It means the notice u/s. 143(2) can be issued only when the return is filed in accordance with sec. 139 or 142(1). Sec. 139 reads as.... Every person (b) being a person other than a company , if his total income under this act exceeded the maximum amount which is not chargeable to income tax. Therefore where the assessee has filed his return of income showing income below the maximum chargeable to tax then such return is not covered by section 139. Therefore in such cases no notice u/s. 143(2) can be issued. The income tax act provides sec. 148 in such cases for assessment . If the A.O. feels then he can issue notice u/s. 148 but not under 143(2). Kindly communicate whether my contention is right in the eyes of law.