Answers On Category: Income-Tax
can AO reduce share valuation of unquoted shares sod u/s 50D vis a vi s one adopted by Assessee and deny 54F to that extent ?
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Sir, If the company pays expenses for education of the whole time director in a university, is it deductible expense? Also, is tds applicable on the same? Pl clarify
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Is ITAT going to be faceless ? when ? What exactly would it imply ?
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Land purchased in 1990, for Rs 1,00,000, has been sold in FYE 31-03-2022 (AY 2023-24) for Rs 25,00,000. As per valuation report obtained from an Authorized Valuer, the FMV as on 1-4-2001 is Rs 7,00,000. In the New Form 2 for AY 2023-24, under the Schedule for Computation of “Long Term Capital Gains’’, in two of the relevant columns, taxpayer is required to fill-in, - “Cost of Acquisition” and “Cost of Acquisition with Indexation”. Expert is requested to kindly advise as to how to fill-in the mentioned two columns having regard to the stated facts?
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landlord pays sums to vacate tenants and then sells building outright. Can he claim these as costs while computing LTCG ?
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gift of 2nd home to a relative is allowed ? before selling a plot in open mkt with LTCG u/s 54F on plot sale ?
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when a Mohamadan male dies without any heir, what shall happen to estate and litigations pending both ?
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Can a Pvt ltd Company give loan to LLP in which partners are relative of director and share holders of the company ? With reference to section 185(2) of companies act and 2 (22)(e) of income tax act - deemed dividend
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50D