I had an old tax demand which I opted to settle under the Direct Tax Vivad se Vishwas (DTVsV) scheme. A final order was issued in my favour confirming full and final settlement of the arrear. Problem: Even after the settlement order, the system has not given effect to it. The payments made under DTVsV were wrongly credited against the old arrear instead of being treated as settlement. Further interest was wrongly computed on this supposed “balance demand.” My recent refunds have been adjusted against this non-existent demand, even though the case was already closed. Current Situation: The portal still…
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If a case is set aside by Cit under 263 and assessment is done consequently under 263 read with 143 Whether notice under section 143(2) is required to be given or not According to my view , it is not mandatory ?
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Case law of Bina Jain says possession is imp Case law of Vembu Vaidynathan says letter of allotment is enough how to reconcile both ?
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Sir, I have sale my residential flat on 30.8.25 at a price of Rs 43 lalhs. I have taken a loan of rs 25.5 lakhs for purchase that property. Instalment price including GST. I have not claimed any interest benefit as IT deduction as I have filed IT in new tax regime. My registration done on 22.6.22. Can I claim GST and interest as cost of flat at the time of long term capital gain calculation.
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Dear Sir, I received DTSV Form 4 and refund written under Form 4? But still the refund is not received in bank. it is almost 3 months gone after issuing Form 4. When I will get Refund
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In case of conversion of a Pvt. Company into LLP, section 47(xiiib) conditions are not satisfied and the conversion is treated as a "transfer" and capital gains is taxable in the company’s hands on FMV of Land. In this case, if original cost of purchase of land was 100000/-, book value was also 100000/- but at the time of transfer to LLP, the company has paid capital gain tax on FMV Rs. 200000/-, so when the LLP sell this land in future, its cost of acquisition will be 200000/- or 100000/-? This case is not covered in section 49. Can…
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we need following clarifications 1] when a builder allotted a flat to a retiring partner , what are the entries to be passed by the firm ? 2] whether GST is applicable ? 3] whether 194IA is attracted ? 4] whether only sale- purchase is taxable ? 5] how to find cost of flat under construction? 6] how to report in Tax audit report ? 7] whether FMV=stamp duty value in this case ? 8] GAAR is applicable ?
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I received form 4 under Vivad se Vishwas DTVSV 2024 where refund is mentioned. But almost 3 months passed, I have not received refund. How much time it takes for refund after receiving form 4 under DTVSV, is any other procedure i need to follow for refund purpose.
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Dear sir I would like to bring out the confusing instructions on Form 10IEA by the Income Tax Department. It says that for ITR 3 it is mandatory to submit Form 10 IEA to opt out of New Tax regime. But it does not clarify that if you have opted out already then the filling of this form again will be Opting you in for the New Scheme, in short it is like a toggle button. You fill the form in 2023, you opt out of new scheme but when you fill the form in 2024, the next year, you…
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whether section 9B will apply of section 45[4] ? what is the distinction ?
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Refund Adjusted Against Non-Existent Demand Despite Settlement Under DTVsV