Answers On Category: Income-Tax
Whether employees contribution towards pf and esi paid after due date as precribed under the prescribed under the law is disallowable u/s 36 of the IT Act, 1961 though paid within due date of filing return as per S43B of the It Act 1961
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in the case of a faceless asst/appeal , which will be jurisdictional itat/HC whose orders/judgements will be binding on the officer? a] as per address of Assessee or b] address of officer ?
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Assessee's assessment order u/s 147 was subject to 263 proceedings . Subsequently search took place in assessee group company and assessment u/s 153A concluded without any adverse inference touching upon the issues which were subject matter of earlier 263 proceedings , although the AO was unaware of any such 263 proceedings. The assessment u/s 153A had attained finality & no 263 proceedings initiated by Department against such order . The earlier 263 order was challenged before ITAT which set aside the matter back to CIT for giving opportunity. Despite the CIT informed about subsequent 153A order which has merged &…
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foreign package tour mentioned under section 206C[H] , whether it covers sale of 1] only foreign travel ticket ? 2] only foreign hotel booking ?
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The book value /FMV as per Rule 11UA of a Pvt ltd concern is Rs 200 per share. The Company declares a rights issue of 10 equity shares each against each equity shares held & accordingly equity shares are offered to all existing shareholders proprotionately to their shareholding. The fresh equity shares are offered at face value of Rs 10 each only. Few shareholders do not opt for the additional equity shares & others subsribe. Does sec 56(2)(x) get attracted to the shareholders subsribing to the issue since equity with FMV Rs 200 gets alloted @ Rs 10 only. Although…
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Date for issuing notice u/s 148 for AY 2013-14 is extended upto 30-6-2021. At the same time new section 148A is also operative w e f 1-4-2021. whether notice issued on 1-4-21 is liable to procedures u/s 148 or 148A?
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What is the date of transfer , when a tenanted flat is surrendered for redevelopment to a builder as per agreement of Permanent Alternative Accommodation ? Is this transfer liable to capital gain ?
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A pvt ltd company wants to buyback both preference & equity shares at discount to the issued price. Is there any bar under the Companies act 2013 ? Further , whether to determine buyback price FMV concept through registered valuer compulsory , since ROC sometimes dont approve the forms
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Weather DLC price is used in net sale consideration for calculation of exemption u/s 54 F or actual sale consideration value is used.
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DEAR SIR ASSESSEE HAD FILED ITR FOR AY 2013-2014 ON TIME. 143(1)(a) ORDER IS PASSED. ASSESSEE EXPIRED DURING AY 2019-20 (INTIMATION NOT GIVEN TO DEPARTMENT) LATE ASSESSEE HAS ONLY DAUGHTER IS LEFT AS LEGAL HEIR AND DAUGHTER IN-LAW, AS DURING COVIDE HER SON ALSO EXPIRED. DEPARTMENT HAS ISSUED 148 NOTICE DATED 24.04.2021 FOR REOPENING OF AY 2013-2014 CASE IN THE NAME OF THE DECEASED ASSESSEE. FINANCE ACT HAS AMENDED SEC.148/148A QUERY. IS THIS REOPENING NOTICE VALID AS IT IS BEYOND 6 YEARS. IF NOT HOW TO COMPLY THE NOTICE AS IT IS FACELESS.? CAN THE DAUGHTER IN LAW FURNISH THE…
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Whether employees contribution towards PF and ESIC paid after due date and before filing of return is allowable as deduction.?