Answers On Category: Income-Tax
sir, Whether A Professional Can Report Income Less Than 50% Of Gross Receipts In Their Income-Tax Return If They Maintain Proper Books Of Account And Without Tax Audit Report
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A has made payments for a flat during the year under ref ; but agreement was made more than 2 years before the said year; can A claim exemption u/s 54F ? any case law ?
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LTCG declared under ids 2016 but its cost was not disclosed being a payment from disclosed bank a/c can ao issue notice u/s 148 for taxing cost of penny stock ? any case law ?
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IS EXEMPTION U/S 54 APPLICABLE IF NEW HOUSE PURCHASE IN THE NAME OF SPOUSE AND SON?
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1] if more than 1 executors are there, what will be rate of tax MMR or slab ? 2[ case law ?
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In a case where the TDS credit is reflected in Form 26AS but the corresponding TDS amount has not been accounted for in the books of accounts in the current year and is instead accounted for in the next year, let's understand this with an example: The TDS credit is claimed in FY 2020-21 while filing the income tax return, and the same credit is reflected in Form 26AS for FY 2020-21. However, the TDS is recorded in the books only in FY 2021-22. The question is: In which year is it legally and logically correct to claim the TDS…
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Mr A has not withdrawn any rupee from bank after receiving Rs 50 lacs in bank . What is his income u/s 44ADA ? Mr B has not withdrawn any rupee from bank after receiving Rs 2.9 cr in bank . What is his income u/s 44AD ?
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Is this order eligible for revision u/s 264 ? any case law ? if revision u/s 264 refused, what to do ? If rejected on merits u/s 264 what to do ?
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Sir, A Doctor (landlord) has rented out their hospital premises to another doctor (tenant), who provides healthcare services there. The tenant doctor earned ₹40 lakhs from a healthcare trust for medical services rendered, but the payment was mistakenly credited to the landlord doctor’s bank account. TDS under Section 194J was deducted, and this amount is now showing in the landlord doctor’s AIS (Annual Information Statement), linked to their PAN. The healthcare trust has stated that it cannot change the PAN or reissue the TDS certificate. For income tax compliance, how should the ₹40 lakhs be correctly transferred from the landlord…
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Professionals taxation