Fact of Case: A foreign company (Germany) sold shares of an Indian company held by it to another foreign company (Germany). Applicable Provisions: As per para 4 of Article 13 of DTAA between India & Germany "Gains from alienation of shares in a company which is a resident of the contracting state may be taxed in that state". Section 9(1)(i) considers the income to accrue or arise in India if all income accruing or arising, whether directly or indirectly, through or from any business connection in India... or through the transfer of a capital asset situated in India. All other…
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WHETHER LIMIT OF Rs. 3 LAC MAXIMUM IS APPLICABLE ON PRIVATE EMPLOYEES OR ALLOWABLE LIMIT CAN BE EQUAL TO GOVERNMENT EMPLOYEE. SINCE CBDT HAVE NOT NOTIFIED ANY LIMIT LATER THAN YEAR 2002, WHAT SHOULD BE PRESENT POSSITION.
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Assessee is partnership firm engaged in buainess as trading in all types of jewellery and as a part of sales pramotion scheme, assessee declares that they will provide Silver of double the quantity on of the transaction of purchase of Gold ornament. Eg. Purchase by gold ornamant of 100 gms, the assessee will give 200 gms of silver free. Whether the provisions of TDS especially sec. 194R are applicable to such sales promotion schemes and if yes on which value the rate of perticular day?
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Assessee individual and is owner of Agricultural land which is urban agricultural land and is desire is contribute for joint development, whether provisions of sec. 45(5A) will be applicable, if other conditions of Sec. 45(5A) are complied.
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In case of assessee, who is HUF and owner of land has executed the specified agreement with the developers for development of land in the FY 2019-20. on the obtaining of the completion certificate of the project it is noticed that Stamp duty value of developed structure is higher than fair market value. In this situation whether there is any impact of section 50C also. pl guide
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Assessee is partnership firm having two partners. The firm has purchase two immovable properties and they are in the name of the firm. The partners have decided to develop the one of the property and since they were short of funds and necessary infrastructure, they have decided to admit two new partners who will bring the necessary capital as well as ready to work as working partner for development of property No. 1. The profit sharing ratio is also decided to be equal as the incoming partner are bringing the necessary capital as per their profit sharing ratio. They have…
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Assessment of the assessee for A.Y.2017-18 was re-opened u/s 147 of the Act. Notice u/s 148 of the Act was issued on 31.03.2021 for the said A.Y, no compliance were made to the said notice. AO completed to assessment u/sec 147 r.w.s.144 r.w.s 144B by making an addition of the entire cash payment for purchase of immovable property and treating the same as unexplained investments u/s 69 of the Act . The assessee preferred an appeal before CIT(A) against the order passed u/sec 147 r.w.s.144 r.w.s 144B. The assessee again received notice u/sec 148 for A.Y.2017-18 and order u/s 148A…
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whether 15 CA is required to be filed in case the dividend paid to NRI shareholders in Indian currency and in their Indian Bank account not foreign bank account? 15CA is required only for the payment made to foreign bank account in foreign currency?
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Assessee is LLP engaged in the business of jewellery. The assessee has kept the non-moving items or the items which are displayed separately and the said stock is valued at cost in the year in which those were purchased. Out of the 5 partners, 3 partners have expressed their desire to retire from the LLP and continuing partners decided to admit 3 new partners in the LLP. The retiring partner will be paid an amount standing to their capital account as on the date of retirement i.e 30.09.2021. While working out the financials at the time of retirement, the non-…
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Assessee is company engaged in the business of infrastructure development. The company is enjoying the credit facilities from the Bank against stock and debtors. on the basis of unaudited books of accounts the auditors of the company have provided the certificate about the Stock, Debtors and Sale as on 31st march . Said certificate is given by generating UDIN on 11th April . After audit it is found that the amount of stock which was given to the Bank on 11 th April was incorrect was much less than actual stock. The management and internal auditor has given the explanation…
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How a Foreign Company will deposit TDS in India?