An individual owns 30 cents of agriculturakl land situated outside notified area-but he does not have proof to show that the land is agricultural - at the same time he has added agricultural income for rate purposes for the last 5 or 6 years
Now the question is whether he will have to pay tax if he transfers possession of this land to a builder for construction under a joint development agreement -
What is your answer to the above?
Alternatively if he converts the property into stock in trade and offers it for a Joint Development , he can delay payment of tax without interest till he sells it in full or in part . If he selle only a part of this he'll pay only proportionate tax - otherwise full tax-in this case he will be required to pay tax on business income as well in the year of sale.
Which alternative is better for him ? Or is there any better tax planning?

Assessee withdraw merely 20000.00 for house hold expenses and he lives in lower-middle level of town with moderate living standards, he has 4 members in his family, all are dependent on him, he has paid 100000.00 on LIP for his life,in the assessment proceedings AO added 40000.00 as u/s 69A. without narrated any reason or finding.

MY QUERY:
1.Whether AO has rightly added an adhoc addition on HHE merely on the basis of number family members.
2. Is there any case to get the relief.

Please help me about the requriment u/s 27 C

Hi Friends

Do you have any case laws with referance to the Death of the Assesse.

If you have kindly Send to this mail address vickyv6@gmail.com

Thank You

Vikram

We are praposing to close a company.

We paid TDS twice on the same invoice in April 07. Whether we can adjust the excess TDS paid against invoices received in Jan 08.Whether filing of revised TDS quarterly return is required in this case.

Dear Sir,
Can you please let us know the rate of tax that shall be applicable on profit if a property is sold after 5 years of purchase.
Also can I know that if I have acquired a property 5 years back for Rs 15 lacs, what will be the indexation value beyond which the profit on tax shall be calcualted.
Regards,
HK Malviya

plz give me the provisions for TDS for RENT PAID
INTEREST PAID OTHER THAN BANK

Requirement
---> Limit
---> Rates
---> Form
---> Provisions


Mahesh

Respected Seniors,

Please give me some details about TDS/TCS
1.If employer deduct the TDS from my salary,can I claim against that

At the time of depositing tax(Rs.4000/-) in to bank, i quote wrong PAN*
& at the time of e-filing i quote correct PAN
then what is the procedure of rectifing the mistake?

*PAN which is not in the record of Income Tax.