Answers On Category: Income-Tax
We are three brothers and inherited a house and 200gms gold jewellery from our father who died intestate. We have registered the house in PUDA in the name of the three brothers equally. Now one of the brothers wants to transfer the share to other two for money, who is NRI. Please give your valuable opinion as to whether this is transfer liable for capital gain tax, as one brother is relinquishing his right in favour of other FOR CONSIDERATION. THANKS
► Read Answer
Sir, If I give my son or my daughter-in-law the mutual fund as a gift, will they or I be liable for capital gain tax? -
► Read Answer
Dear sir can you please provide landmark Supreme Court and high court judgements for section 273 B in favour of assessee thanks in advance
► Read Answer
In case of LTCG u/s. 45(5A) whether exemption u/s 54 be claimed by investment in a new residential flat within stipulated period made out of sale proceeds of redeveloped flat? Or is it mandatory to hold newly constructed flat for 3 year?
► Read Answer
The assessee filed the ITR 7 in Time But the assessee forget to file form No.10 before the filing of ITR. It was condoned by the commission of Income tax exemption. The assessee was assessed U/s 143(3). The AO determined the tax after disallowing the exemption to the tune of Income was to file filed in Form No.10. The assessee filed an appeal, The appeal was accepted by the CIT(A) because the Form No.10 was condoned by CIT Exemption. In the meanwhile the AO adjusted Refunds of various years to cover up the demand. Now the ITO is denied the…
► Read Answer
How to respond to unaccounted sales allegation found in case of search on 3rd party for fy 2122.approval under section 151 not taken for issue of this notice
► Read Answer
WHAT IS TIME LIMIT FOR ISSUE OF SHOW CAUSE NOTICE U/S 148A(b) FOR AY 2020-21 IN CASES OF INCOME ALLEGEDLY CONCEALED IS MORE THAN 50 LAKH
► Read Answer
Dear Sir AO has made addition u/s 69 of the I T Act for cash payment to builder based on material collected from the premises of the builder despite the fact assessee denied any such payment in cash also the builder has given in writing to the assessee confirming that no payment has been received in any mode other than two transactions showing in the letter which were made through Bank. Can you provide us the list of cases which were decided in favour of assessee.
► Read Answer
Capital gain tax on family settlement.