CMA Ramesh Krishnan's Expert Profile

Queries Replied : 26053

Hi.I am Ramesh Krishnan, Associate Memeber of ICWAI & Certified Management Accountant (CMA) by IMA(USA) Working in Bangalore

Award Winner as " Most effective Expert in Caclubindia-2011" My working style always like,

Take life always as challenge,Think positive,

Give involvement on taken task,Donot divert your concentration from the taken task,

Always target your goals and commitment,Your future always better. Jai hind. Thank you for visiting my profile

To reach me : cma.rameshkrishnan @ gmail.com or send PM for queries & professional help

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CA Bikram Singh says : TAX ON COMPENSATION
I have a piece of land that belongs to MIDC(MAHARASHTRA INDUSTRIAL DEVELOPEMENT CORPORATION) which i have taken on lease for 90 years. I wanted to construct a petrol pump on the said land for which NOC is aleady given by MIDC. Now a power plant wishes to drag a high tension transmission line right over the land. As a result, i cannot construct Petrol Pump on the said land. However the Power Generating co. has offered me a compensation. I wish to know the Tax implication for the receipt of compensation with refence to the following points. 1. The land is a Lease hold Land and not owned by me. 2. I have not yet started the Petrol Pump, so no business Income from the Land. Kindly suggest under what Head the the compensation will be taxable and the rate of the tax for the same. Also let me know the section.

CA Saxena says : professional tax
Sir- when do we have to pay professional tax and what is the due date of return

Thamotharan S says : Service Tax- Works contract
Dear sir i have paid service tax on works contract @ 4.8%, Can i take this as input service, i) if i also provide works contract? ii) if i provide any other taxable services?

Anil Kumar Jain says : Interest on TDS u/s 201
Dear Sir, Please clarify about Interest to be paid on delayed deposit of TDS U/s 201. If Tds deducted on say date and Deposited on 1) Deduction on 02.01.2013& deposited on 08.02.2013 2)Deduction on 08.01.2013& deposited 07.03.2013 3) Deduction on 08.01.2013 & deposited on 08.03.2013 4) Deduction on 16.01.2013& deposited on 15.04.2013 5) deduction on 16.01.2013 & deposited on 17.04.2013 6) Deduction on 16.01.2013 & deposited on 16.04.2013 Please reply - interest to be deposited for how many number of months. Best Regards Anil Jain 9312640067