I hav a query about wealth tax implication.

Assesse is already assessing as a wealth tax assessee, owning assets above 30 lakhs including 3 house properties
now he has constructed new house in jan 2013 ie in fy 2012-13 and let it out on rent.
as per wealth tax act a house given on rent for 300 days or more is not included in definition of assets.
Now whether this new house is to be included in wealth or not.

that is the matter,please frnd give ur views/advice and whether there is any law/rule/supporting for that
thanks in advance......

Hello,
I am asking on behalf of my father. My father is a pensioner and has not filed his returns from AY 2009-10 onwards. The reason being he was critically ill in August 2008 and since has been recovering. In financial year 2008-09, he sold his house and the money was invested in Long Term Capital Gains. Subsequently, this amount was partly invested in building a new house. Now, he wants to voluntarily file his returns for AY2009-10, AY 2010-11, AY 2011-12, AY 2012-13 and AY 2013-14. My query is, which ITR form has to be used to file his returns for AY 2009-10 as he wants to show indexation towards the house he sold.
Appreciate a quick reply.
Thank you,
Merv

Respected members,

whether a service provider can charge service tax from rupee 1 and pay it to the CG after he has voluntarily registered with turnover less than 900000.It may be noted that the service provider doesn't want to avail the SSP Exemption. He wants to charge service tax from Rupee 1 from his clients.

Can he do so?

awaiting your response...

Hi My friend is salaried person and he has paid TDS on his salary during last year. He also sold shares and mutual funds and suffered loss in it. Is it necessary to show it in income tax return If yes then How to show it in ITR1? Kindly give me suggestion on it.
Transaction relating sale of mutual funds roported in salary bank account shown & prrson having salaried income need to file ITR 1 then how to show loss of sale in mutual fund in it.

Kindly suggest,

a person is residing in US from last 4 years, and had sent money from there to india, is he liable to pay tax in india, while the money sent is after paying tax to US govt?

respected sir,
cst on purchase should be added in basic purchase price or it should be charged separetely

Sir,

As u know that dvat-16 return form has been changed and it take value automatically..I want to ask that when I enter value of CST in R9.1 column where we adjust CST against DVAT..why value does not enter in this column...

Excise duty is included in value of closing stock if yes why give the detail reason and effect If no why provide detail reason and effect in p&l and balance sheet

Hi,
I had Lic Wealth plus of single premium 40000/- started on 23/03/2010
Sum Assured:50000/-

As nav is going below I have surrendered and got 36176/- from it after 3 yrs (No surrender value deducted as surrendered after 3 yrs.)

Now for FY 2013-14 ay 2014-15 how much amount from it will be taxable? Please advised i am confused.

Whether assessee can file last 15 years Income tax returns now.Most of these returns are taxable.Whether assessing officer has power to accept these last 15 years returns?Guide about the penalty procedure.Assessee is ready to pay interest u/s 234A,234B,234C