Answers On Category: Income-Tax
Assessee is partnership firm having 4 partners having equal share and engaged in the construction of project . The assessee firm has only one land which is disclosed as stock in trade the value of the same in the books is 2 cr and today's FMV is 20 cr. In the said firm three more partners are added who were ready to contribute the capital as well as use there infrastructure for executing the project on the said land. After 2 months original four partners express there desire from the partnership and it is agreed that they will be paid…
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What is the maximum amount that can be received in cash by a poultry producer for the broiler birds produced by him.
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i have seen the order in the portal only 31.03.2024. but the order was passed in 23.02.2024. there is a delay in filing the appeal what i have to do
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if the assessee died in year 2018 and Capital gain arise in the year 2015 and the legal heir of the deceased person which was his children are minor at that time and their mother are Doesn't have knowledge as house wife and income tax impose interest on Capital gain is there any chance that this interest waived?
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Sir, The wife purchased a property and the funds for purchase were paid from husband's bank account. The wife does not have any income and is a house wife. The property is given on rent and the wife is in receipt of rental income. Will this rental income be clubbed in the hands of the husband? If so, under which clause of section 64 of the Act? Please clarify.
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If an assesse buys a flat for Rs 70L for stamp duty value was Rs 90L. The flat was registered on May 2013. As per my best knowledge this section was applicable for all transactions after 01 Apr 2013 Is the IT right in invoking the above section for difference of Rs 20L
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Hello , In one of the CHS's case , redevelopment agreement entered into between Society and Builder. Redevelopment agreement got registered and builder had paid stamp duty on the same. Subsequent to this , department has sent notice to Society claiming that since the agreement is entered into between society and builder and society has benefitted with the sum of Rs......( Value of Development agreement) in the form of new construction, enhanced area and rental expenses in the existing property as per the agreement which is otherwise taxable under the head Income from Other Sources. Whether the said valuation…
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As per provisions of section 144C(1) of the Act prior to amendment in Finance Act 2020, AO to pass a draft assessment order if he proposes to make any variation in the income or loss returned which is prejudicial to the interest of such assessee. In the Finance Act 2020 the words “income or loss returned” has been omitted. Consequent to amendment the section reads as any variation which is prejudicial to the interest of such assessee. what are the types of variations that is prejudicial to the interest of such assessee. The income returned is accepted, whether application of…
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can unlisted company charge share premium on rights to shareholder without complying with rule 11UA?
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Whether excess amount more than his capital outstanding paid to retring partner can be claim as deduction