Answers On Category: Income-Tax
Can the Department can take recovery proceedings against a Director of Limited Company under section 179 of the Act for recovery of Tax due of the Company?
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Assessee is a Senior citizen , he was one of the Director in a company . The department has launched prosecution against all the Directors including the assessee. The assessee has moved an application for discharging him as he was not involved in day to day activities of the company . Magistrate, dismissed his application for discharge , what is the remedy ?
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Assessing Officer has passed the final order , without providing a draft assessment order . Can the assessee file writ petition against the order as the Assessing officer has not passed draft assessment order which is mandatory .?
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Assessing officer has passed the assessment order without giving a reasonable opportunity to the assessee can the assessed file the writ petition against the assessment order ?
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What is the law and procedure to be followed for renewal of Registration as per new provision of Section 12AB of the Income tax Act, 1961 (Act)?
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Can the prosecution be initiated during the pendency and before the completion of assessment or during the pendency of Appeal before the appellate authority?
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For Income tax assessment For how much period the books of accounts are required to be kept under the Income - Act, 1961?
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A House property is sold for a consolidated value of Rs.1 Crore along with furniture. Value for the purpose of stamp duty of the house property is 95 lakhs & furniture for Rs.5 Lakhs was mentioned separately in the agreement. What will be the treatment of Rs.1 Crore receipt for computing Capital gain on house property sale? Value of furniture being personal asset whether liable to tax or not?
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