A person collects VAT on sale of SIM CArds till 2006 March, based on Kerala High Court Judgement. Later Supreme Court in BSNL remands the issue to the assessing authority. Later Supreme Court in Idea cellular Ltd confirms that SIM CARD is only liable for service tax and not liable for VAT. Accordingly the person remits service tax for the period till 2006.
In this circumstance should the VAT collected be forfeited?

Hello,

i am working as software enginner. for my graduation i took education loan of 4 lac rupee. in this loan co-applicant is my mother. She paid interest amount during 4 year of my graduation period and claim tax benefit under section 80E.

My current income tax slab is 10% and my mother comes under tax slab of 20-30%.

So, can my mother pay the loan amount and take tax benefit???

heyy frends,

my clinet which has a steel sheet cutting business( normally call circle work).
and one has a small qty of diamond supply to small jewelers(like wholesale diamond supply to small jewelry shop).


i have a query that if any criteria in these business for calculated profit %. both of these in tax audit limit.(about 1 crore turnover on FY 12-13.

Hi All,
If some one can assist me in this plz
We are Pvt Ltd company want to import - mobile battery cell - pkg material - and other related materials from china - and want to only assemble the said here in india. and to sell in MRP.

it will come under manufacturing and if yes, what will be the procedure to start from the beginning

I understand the said is lengthy procedure but i need it to understand
thanx for your usual co-operation as always

Hi,

In Tds sheet of itr1 form what to fill in column "Income chargeable under the head salaries". Do i have fill amount mentioned in
"Income from salary/pension" column or amount after deduction as mention under column "Total Income (4-6)".

Thanks

Q1) Whether return in which there is a capital gain and we are claiming exemption under section 54 & 54EC needs to filed on or before 31st july in case of individual assessee not subject to tax audit??

Q2) Suppose there is a sale of residential property on 21st march 2013 with a long term capital gains of Rs. 8000000/-.Now he has deposited Rs.3300000/- in capital gain account scheme and balance 4700000/- he is suppose to invest in bonds u/s 54 EC which he can invest within 6 months of transfer of property.Since due date of filing of return in31st july and suposse the assessee files the return on 31st july without investing in 54ec since he has 3 months in hand to invest the balance.Then how to show it in the return??

If a person enter in to an agreement to sell of immovable property through proper registration in sub registrar office and take a 40% advance of sales.
After 2 months ,take balance 60% on execution of the sale deed so which will be date of transfer for calculation of capital gain for seller date of agreement or date of sale execution.

PURCHASED a property (registry value)= 4 crore
but my parents have unaccounted money(black money ) =4 crore
and accounted money(white money) = 50 lack

So what are alternative to get tht property in our name ?????

pls suggest some altenative

Whether a teacher in a govt aided school where salary of teacher is provided by govt considered a govt employee as per the income tax act for the purpose of availing exemption in leave salary as per sec 10(AA) of the act?

Also whether govt school employees are considered govt employee?

I have deposited TDS challan through online mode. I had to pay both TDS and interest on late payment of TDS. But I have made a mistake. I have deposited the total amount (i.e. TDS amount and interest) in the column of Tax amount payable. Can I revise the challan or is their any solution to revise this problem?

Please help me out as soon as possible.