Answers On Category: Income-Tax
AO2 passes an order u/s 148A[3] without any notice u/s 129 and or a fresh notice u/s 148A[1] etc and relies upon notice u/s 148A[1] by AO 1 and reply by me to AO 1 what is the remedy ?
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Sir, If a person leases gold to assessee's father's jewellery firm and gets interest on it. Is it allowed in income tax act to lease gold instead of cash to private firm
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Property Background Original MHADA property was exchanged for alternate accommodation in Ghatkopar (East), Mumbai. (before 2000) Property was later transferred to the current owner through inheritance.(in 2008) The property underwent redevelopment through a formal development agreement. (in 2014, further with Supplementary deed 2020) The owner received a new flat in the redeveloped project as permanent alternate accommodation.(in Mar 2022) The redeveloped flat was subsequently sold in June 2024. Now we are now having two CG scenario :- Scenario A : Capital Gain on Sale of redeveloped Flat Event: Sale of property (redeveloped flat) in June 2024 (AY 2025-26). Full Value of…
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sir, I need some clarity regarding ITR-3 filing for a combination of incomes and business activities. Here’s my situation: Filing ITR-3 Sources of income: Salary Intraday trading (treated as speculative business) STCG from equity delivery (as a capital gain and not as a business) A separate business (as sole proprietor) with regular income and expenses Doubts: Personal Loan Disclosure: I had taken a ₹ personal loan from a bank during the year Feb 2024. It was used only for trading and equity investments, not for my sole proprietorship business. Do I need to show this loan in the Balance Sheet section of ITR-3 FY 24-25? If yes, should it go…
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A company which is into multi level marketing deducts and deposits TDS on Commission paid to its agents spread all across India. However AO has disallowed a part of Commission u/s 37(1) as it could not trace some agents through mail/email u/s 133. Company contends that onus of payees is not on it as it has completed its duty of deducting and depositing TDS. Is there any case study as such.
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karta of a HUF has passed away and the eldest son becomes the huf now. what is the legal position of share of the widow who is a member in the huf as regards to her share in the HUF assets . the erstwhile karta had already distributed assets of the HUF amicably amongst all coparceners and members during his lifetime to avoid any dispute and the new karta infused capital into the huf from his own individual assets .
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sir, Hospital A, have doctors as consultants, they provide this doctors to Hospital B to provide Healthcare services to Patients at Hospital B. Hospital B collects amount from patients, retain some amount balance pay to Hospital A. Hospital A then retains some amount and pay to Doctors. Is services between Hospital A and B regarded as manpower supply or healthcare. Will the gst be applicable
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I am the owner of the flat in Mumbai (along with the property card now transferred in my name- transferred by inheritance.) Our building is now going for redevelopment and under the Development Agreement, we will be getting certain hardship compensation - the question is weather this hardship compensation will be taxable and will be subjected to TDS provisions.
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148A