Answers On Category: Income-Tax
Dear Sir, I am an NRI and my wife is an Indian resident. I would like to transfer money from my foreign bank account abroad to my wife's Indian bank account to purchase property in her name and for other expenses in India. In this scenario, is it just a simple transfer and nothing else needs to be done, or for my wife's Indian IT returns do I need to create any document like a gift deed for the money transfer? Also, does she need to declare this money transfer in her income tax returns? If yes, then in which…
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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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does ESOP gives voting rights