Notice u/s 148 for ay 15-16 received 0n 25/03/2021. Who will be approving authority u/s 151 i.e. JCIT or CIT, considering the extension granted time to time due to Covid Pandemics.
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A person who is an Indian but holds a Singapore citizenship. He has been living in India, for more than 2 years. He still holds NRE account and claims that the interest is exempt from tax. Bank is allowing him to continue to hold the NRE account and is not deducting TDS because he is a foreign citizen. Is the legal position correct?
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A piece of residential plot is in Wife's name , who has no source of income since she is a Home maker. So wife is the owner of the plot. House Building Loan taken by Husband, who is a salaried person, with wife's residential plot as a collateral security and constructed house on the wife's residential plot. Monthly House Building Loan EMI ( Principal and Interest) amount paying by the Husband out of his salary amount. The lender Banker has granted House Building Loan in the name of Wife and Husband (jointly ). The query is: Can the husband claim…
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A company is earning capital gains from sale of shares attracting STT as well as capital gains from other shares/units of MFs without STT. Can the company adjust only the losses from the STT paid shares against the profit of non-STT paid shares without adjusting it against the profits from STT paid shares? Can the Income-tax department raise objection and adjust STT paid losses first against the profits from STT paid shares and only the remaining loss is allowed to be adjusted against profit from non-STT paid shares?
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We have received the Form 3 from designated authority regarding the payment of tax. In Form 4 we have to submit the details of tax paid along with the proof of withdrawal of relevant appeal. What is the procedure to pay the this tax. Whether it has to be paid through income tax portal or we can pay it offline through challan. Kindly guide me on the procedure to make the payment of tax after receiving Form 3
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where can i get email id of Deparmental representative - Mr Sanjay sethi.
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How & to whom an application for directions of the JCIT or the Addl CIT is to be submitted for directions u/s 144A, in the Faceless Assessment Scheme?
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A query was answered by Adv.Advocate Aditya Ajgonkar The Ld. advocate stated that the last date for issue notice u/s 148 was extended to 30.06.2021 but section 148A is also effective from 01.04.2021. My query is that section 148 has been extended as if Finance Act 2021 was not passed hence extended upto 31.03.2022. Similarly, application of section 148A is also deferred till 31.03.2020. Can you pl confirm & provide notification Nos>
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When the second wave of Covid-19 was at its peak and people were dying merely for the lack of oxygen beds in the country, the DGFT, vide Notification 4/2015-20 amended Para 2.25 of Foreign Trade Policy, 2015-20 allowing duty free imports of Oxygen Concentrators for personal use through post, courier or e-commerce portals in the list of exempted categories, where Customs clearance is sought as ''gifts", till 31 July 2021. No enabling provisions for relief has been made in any other laws till date. Assuming that an Oxygen Concentrator costs upwards of Rs. 1.5 lakhs, if an Oxygen Concentrator is…
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Sir, An individual has taken a loan from bank of Rs2cr and has given as a loan to the firm as a partner.Would like to know whether the interest paid to the bank would be allowed as a deduction from interest income earned from the firm u/s 57(iii) as there being a direct nexus between taking of loan and lending the said amount to the firm.
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Section 151 . Sanction for issue of notice – Who will be approving authority u/s 151 i.e. JCIT or CIT, considering the extension granted time to time due to Covid Pandemics.