Comments on: Amendments to Section 56(2) with respect to Deemed Gifts and transfer of movable & immovable property http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html Complete Tax Solution Fri, 10 Feb 2012 11:17:22 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: sabuj http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-425297 sabuj Mon, 11 Jul 2011 17:33:07 +0000 http://www.taxguru.in/?p=17021#comment-425297 yes, 40% IT shall be deducted yes, 40% IT shall be deducted

]]> By: D.N.DUBEY http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-425208 D.N.DUBEY Mon, 11 Jul 2011 10:51:05 +0000 http://www.taxguru.in/?p=17021#comment-425208 I RECEIVED 10 LACS AMOUNT BY CHEQUE FROM MY BROTHER AS GIFT IS IT LIABLE FOR INCOME TAX OR NOT IF YES WHAT AMOUNT OF TAX WILL BE PAID I RECEIVED 10 LACS AMOUNT BY CHEQUE FROM MY BROTHER AS GIFT IS IT LIABLE FOR INCOME TAX OR NOT IF YES WHAT AMOUNT OF TAX WILL BE PAID

]]> By: N.L.N.SWAMY http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-329302 N.L.N.SWAMY Fri, 21 Jan 2011 07:34:28 +0000 http://www.taxguru.in/?p=17021#comment-329302 PLEASE GIVE THE GIFTS RECEIVED FROM RELATIVES BEFORE AND AFTER1.10.2009 IS THERE ANY DIFFERENCE IF RECEIVED BY WAY OF WILL FROM RELATIVE AFTER 1.10.2009 PLEASE GIVE THE GIFTS RECEIVED FROM RELATIVES BEFORE AND AFTER1.10.2009 IS THERE ANY DIFFERENCE IF RECEIVED BY WAY OF WILL FROM RELATIVE AFTER 1.10.2009

]]> By: ANIL SARDA http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-266385 ANIL SARDA Thu, 23 Dec 2010 11:22:31 +0000 http://www.taxguru.in/?p=17021#comment-266385 when pvt ltd ltd co having plot of industrial land is being transfered marely by changing the director, then whether it would be taken at market price to know the FMV of shares for income tax purpose or it willtaken as book value? provision is not clear. when pvt ltd ltd co having plot of industrial land is being transfered marely by changing the director, then whether it would be taken at market price to know the FMV of shares for income tax purpose or it willtaken as book value? provision is not clear.

]]> By: ANIL SARDA http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-266375 ANIL SARDA Thu, 23 Dec 2010 11:12:12 +0000 http://www.taxguru.in/?p=17021#comment-266375 tr of property by virtue of transfer of company maerly by changing the director. nothing is clear that whether the property is booked at book value or the difference of book value and market price will be taxed at shareholder hand. tr of property by virtue of transfer of company maerly by changing the director. nothing is clear that whether the property is booked at book value or the difference of book value and market price will be taxed at shareholder hand.

]]> By: Shankar Verma http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-249854 Shankar Verma Tue, 14 Dec 2010 09:53:12 +0000 http://www.taxguru.in/?p=17021#comment-249854 If a private company buy back its own shares u/s 77A of the Companies Act,1956 below the book value. Whether this section will apply on the company for the difference amount. It is not clear in this section. If a private company buy back its own shares u/s 77A of the Companies Act,1956 below the book value.

Whether this section will apply on the company for the difference amount. It is not clear in this section.

]]> By: N.Srinivasan http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-11984 N.Srinivasan Wed, 03 Feb 2010 11:54:37 +0000 http://www.taxguru.in/?p=17021#comment-11984 Regarding para no 7 - anamoly in cost of acquisition - I thought there was a clause inserted section 49 to provide for the modus operandi to calculate cost of acquisition when such property was being sold.... Regarding para no 7 – anamoly in cost of acquisition – I thought there was a clause inserted section 49 to provide for the modus operandi to calculate cost of acquisition when such property was being sold….

]]> By: T.Satyanarayana Gupta http://taxguru.in/income-tax/amendments-to-section-562-with-respect-to-deemed-gifts-and-transfer-of-movable-immovable-property.html/comment-page-1/#comment-8778 T.Satyanarayana Gupta Tue, 15 Dec 2009 07:26:01 +0000 http://www.taxguru.in/?p=17021#comment-8778 This is an excellent article addressing the adverse tax effect on genuine tax payer. Income Tax is meant to tax the income and not to tax the assessees compelling them to pay tax on what is not earned as income This is an excellent article addressing the adverse tax effect on genuine tax payer. Income Tax is meant to tax the income and not to tax the assessees compelling them to pay tax on what is not earned as income

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