CA Saurabh Maheshwari's Expert Profile

Queries Replied : 821

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pavit says : capital gains tax
In 2005 i inherited residential property from my father. Sold the particular property for 36 lacs in 2005 itself. Bought a plot of land worth 17 lacs(including registration charges)out of the sale proceeds of the inherited property. both these transactions were reflected in the Income Tax returns. Constructed a house on the said plot and completed the construction by December 2007. I intend to sell the newly constructed house by july 08. It is likely to be sold for approximately 60 lacs. After which i propose to purchase a plot of land from the sale proceed for about 32-35 lacs. and later construct a house on that plot. Please advise me on the following issues: a)if the money earned from sale will qualify for capital gain tax? b)what will be the tax liabilities like and under what provisions of income tax clause do they fall? c)are there any provisions for exemption / relief for this?

mohan says : TDS
Hello sir i have two question relating with TDS. help me on this.Please send me the various journal entries of TDS accounting treatment in the books of manufacturing industries and also valuation rules of excise with the help of relevant examples and cases. please sir my email id is tomohanmba@gmail.com

Jiwan singh says : TDS ON EXEMPTION ZONE
Dear Sir I am a employe in UTRAKHAND & here there is a income tax exemption for 10 Year. My Problem is :- 1- Will i deduct TDS on bills which i received from transporter ( any taxable (tds) bills) A- Transporter from Uttrakhand (Income tax exempt) B- Transporter from Out side Uttrakhand (Not exemption) 2- Will i Pay TDS on our Service bill if No which certificate have to issued please advise me on jiwanpokhariya@gmail.com

CA Umashankar Vaishnav says : PLEASE REPLY ME AS SOON
respected sir at present in gwalior income tax office the submission of income tax returns are made in the form of taking original form16a , form16 , tds certificate.as from the date of 01/04/2008 from the assesment year 2008-09 sir i want to know the new act passed by the CBDT NOTICE CLARIFICATION IS THAT NEWS IS CORRECT OR NOT IF THIS NEWS IS CORRECT PLEASE FURNISH ME OR EMAIL ME AT MY E MAIL ADDRESS WHICH ARE AS UNDER: umashankar_ca4u@yahoo.co.in reply..........reply...............reply.......................reply.....................reply thanking you! umashankar vaishnav C.A. FINAL ( STUDENT )

Anish says : Service tax on Civil Contarctor
If Civil Contarctor Get registered under Service tax, and now if he want to Opt for composition scheme then what is the procedure.In what way he should raise the bill to party and for his accounting records