Answers On Category: Income-Tax
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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Assessee is an individual and engages in business of construction. During the course of search conducted in 2023 what's up chat with one of the employee was found n seized. The noting in the chart were receipts on account of extra work and unrecorded expenditure . Whether entire receipts will be taxed or Income element will be tax?
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Respected sir, A charitable trust started in 1955 enjoying exemptions u/s 12A as well as 80G was allowed to the donation made to it. It was granted registration u/s 12AB . However, 80G exemption was provisionally allowed for A.Y 2021-22 to 2023-24 . It failed to renew it before 30th Sept 2022 . It filed form 10AB in October 22 for renewal of 80G benefit. However, the dept rejected the application on the ground of limitation period of 6 months. kindly advice the future course of action.
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Whether the paper book to be filed before the ITAT as well as the copy of the same whichis to be served upon the Income tax Departmental Representative be dispatched by speed post (registered post). Kindly advice
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Sir, What is the deductability of the stamp duty paid by the company at the time of merger? Will it be treated as capital expenditure?
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Sir, In a case where the show cause notice is issued u/s 148A of the Act under clause (b) and reply is submitted by the assessee within the time limit specified, even though the due date for passing the order u/s 148A(d) is completed, no action is taken by the assessing officer. What is the status in that case? What is the validity of the proceedings? Please clarify.
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Housing society pays conveyancing charges . whether it is a capital exp to be added to land or reduced from reserves already created earlier ? can it be claimed as revenue exp by any chance ?
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Assessee is an individual. assessee filed the ITR for the Ay 2014-15 which selected for scrutiny assessment under CASS which subsequently completed by making hug addition. When we go through the records it observed that Ao every time when notice issued U/s 142(1) for demanding records and documents, notice issued at preprinted format which have three separate paragraph. Out of which one paragraph pertains to instructing submission of return. As per my knowledge asking for ITR when valid ITR already in record without striking of such paragraph which asking for submission of ITR makes assessment proceeding null & void. Please…
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54F.Capital gains- Investment in a residential house –