Answers On Category: Income-Tax
Sir in my client case IT dept got an information during a search conducted at the premises of the supplier from whom my client used to purchase goods that my client had made a payment of Rs. 863000/_ to the supplier in cash for payment of goods, hence to verify the same case of my client re opened and now has alleged that why this as much amount of cash payment shhould be added in income u/s 69C of IT Act. however during reassessment proceding my client had furnished all the bills and copy of a/c of supplier alongwith bank…
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I wish to undertsand the legal meaning of ancestral property in reference to the Maharashtra stamp act for release deed which says that " If the release deed of an ancestral property or part thereof and is executed by or in favour of blood relations of the renouncer or the legal heirs of the blood relations then stamp duty of ₹ 500/- is levied". What does an ancestral property mean here? If a flat is bought by my father (100% ownership) and after his death, can his son / other legal heirs claim the flat to be ancestral for signing the…
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I own a plot of land on which I'm constructing my house. The land was bought in 2011. The construction has started in FY 25. Can I claim the deduction of Section 54F for construction of my house? If yes, how do I account for expenses that I have incurred in the current FY for construction purposes? I also own 2 studio apartments one of which is not registered. the case is in NCLT. Both of them are on rent.
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I have a query. Suppose X purchased a flat at a certain price which is subject to TDS. Flat is fully furnished and cost includes furnishing and interior cost. In the sales deed it is clearly mentioned that this is the value of property and this is the value of interior and other furnishings. Can TDS and stamp duty be paid taking only the property value in consideration. It means, leaving aside the interior portion can TDS be deducted? Will that be legal?
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Recently under Vivad Se Vishwas scheme, I had received form 2 from Pr CIT to deposite the amount and fill form 3 and submit the details. Form 3 asks to submit the proof /acknowledgement of withdrawl of appeal which was earlier made to CIT (A) vide form 35 for disputed demand by AO. Pl advise how to withdraw the appeal made earlier to CIT(A). The procedure.
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Dear Sir, It's my humble request to you to kindly provide me the Intruction No.10 pdf copy
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Company is utilizing SEZ Fund for few years and now they are deciding to utilize for NON SEZ. Whether is their any law or condition which allow to do this? IF Yes/No whether any Case Law or opinion ??
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. Rule 11UA applies to unquoted shares of a company. However, a technical query is about whether the similar provisions apply for valuing share in a partnership firm or LLP?
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does while doing valuation under 11UA under part D for immovable assets do we also take leased assets i.e right of use to asset while calculating stamp duty value ?
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ONE PERSON HAS PURCHASED PROPERTY IN AUCTION DONE BY A BANK AT RS 7 CRORE BUT THE STAMP DUTY VALUE OF WHICH IS 10 CRORES.WHETHER CAPITAL GAIN WILL BE TAXED ON DIFFERENCE OR IS THERE ANY WAY OUT
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REASSESSMENT PROCEDING U/S 148 OF THE IT ACT