12A Registered Trust receive Donation from another 12A Registered Trust Whether donation received to Calculate for 85% for Application of Income or can be excluded for calculation.
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Can you pls. answer my query , Since We purchased flat @ Rs.60,00,000 with co-owner as (wife) with equal 50% share after selling Listed shares along with equity based mutual funds & obtained certain LTCG both individually and only I paid stamp duty/registration charges & brokerage etc. about Rs.565,236[445,236+(120,000 brokerage)] on whole full amount of the cost of flat . Here it may be added that we invested partial amount, means less than net sales considerations each. Can we avail exemption in sec 54F partially against long term capital gain each individually and please reply, can we claim/get exemption in…
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Whether you can declare rental income in your own name when the property generating such income is legally owned by your father, and under which statutory provisions and case law such a plea would be examined. Also, whether any exemptions or legal avenues exist to support such a claim, and why such a plea is unlikely to sustain under Indian law.
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The Sale of 15 years old Rural Agricultural Land is not being covered in the ITR. My Question: Is this becomes taxable due to Non-Disclosure...? and Any Penalty is Applicable for Non-Disclosure...? Any other Consequences possibility....? Please Clarify. Thank You.
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My father made HUF with eldest son karta and died 24/9/2003 Will probated with HUF detail in Mumbai high court 2004 before act of 2005 daughter rights in property. Two married sisters not member or karta of HUF . can they ask for HUF detail as how money spent from HUF even will approved by High court in 2004 before act of 2005.
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I am selling my house. If I make a separate agreement with buyer and show that interior and furniture cost is around 8-10 lakhs, whether I need to show bills if IT dept sends notice? Whether I need to mention all items and their cost or i can just mention Interiors and no mention of cost in Sale agreement?
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I have seen that dtvsv form issued last Thursday.. but when clicked inside it still showing awaiting signed form 4 from CIT I CAN'T understand.. whether it is considered as form 4 issued or not
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The Ld AO has initiated penalty proceedings u/s 270A and the operating para reads as under:- " Whereas in the course of proceedings for the Assessment Year 2019-20, it appears that you have under-reported income which is in consequence of misreporting thereof as per details given in the assessment order." Whether the same is considered to be under reporting or misreporting of income?
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Whether in case of donation to political party if the case is taken for assessment or reassessment & the A.O. decides to disallow the donation made & initiates penalty u/s 270A whether the same will be leviable for under-reporting /misreporting i.e. 50% of tax payable or 200% of tax payable. Whether it will be the amount of tax & surcharge only or it will include the amount of interest.
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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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12A Registered Trust receive Donation from another 12A Registered Trust