Answers On Category: Income-Tax
Sir, I am holding commercial premises on tenancy basis. Developer is offering ownership and other benefits like corpus rent and extra area pursuant to redevelopment. Wanted to know tax implication pursuant to redevelopment and on sale of new premises.
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Dear Sir, I Sold my property in the year 2023 for a sale consideration and made a separate agreement for the sale of furniture & fixtures. So both the Building cost and Furniture & Fixtures cost credited to my account separately.. Building Sale Stamp duty paid and TDS Deucted 1 % For Furniture & Fixtures made an agreement in Rs.200 stamp paper but deducted 1 % TDS by the Buyer. Do I need to pay any capital gain or any tax on the sale of Furniture & Fixtures in this or totally exempted. Secondly in ITR 2 , where i…
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Is DTAA applicable to US citizen residing in India?
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Form 10IE for Assessment year 2022-23 was filed late i.e beyond the period allowed u/s 139(1), whether the said filed form no. 10IE can be availed for computing tax as per section 115BAC for Assessment year 2023-24. Just to mention that after filing Form 10IE even belatedly, CPC portal does not allow to file another Form 10IE to opt for taxation as per section 115BAC. Please share any judgement on this issue.
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GOOD MORNING SIR/M I AM ACCOUNTANT I GOT ONE INVOICE FROM DKC LOGISTIC TOWARDS MATERIAL SENT TO USA. CAN I DEDUCT TDS
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I am not able to download the judgement in Rajeev Sureshbhai Gajwani v ACIT from ur site. Pl forward the same SB Formerly Chief Commissioner of Income tax
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In the sale of equity shares,(DEPO) in AIS, in all IPOs against the sale, it is indicated that cost of acquisition is zero. Since I have a sold a HNI Lot in many batches, there are multiple entries. For all the IPO allotments and also in cases where it is not able to catch old price, the volume of entries is huge. Do I have to correct CG in ITR. If IT authorities see CG from sale transaction of AIR it may by 3-4 times of the actual CG. Is there need for me to attempt correcting the acquisition price…
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In the AIS, in the sale of equity shares,(Depository) in AIS, in all IPOs against the sale, it is indicated that purchase is offline and cost of acquisition is 0. Since one may have sold a Lot in many goes, there are multiple entries. There are many such shares in IPO. should one flag of correction in each of these entries which may run into thousands which does not look feasible. It will meaning mapping a large portion of broker report into the AIS. Basic clarity needed if AIS data is used by Tax authorities to calculate CG or is…
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i use the pre-filled data to file my itax return. i download 26AS data from traces and find that there are many entries missing . e.g. the tds and income from income tax refund (of previous year) is shown in 26AS but is missing from the pre-filled data similarly there is a difference in credit amount and TDS shown in 26AS and pre-fill data for some bank interests thus the tax paid amount calculated by pre-fill data is less compared to actual deducted and reported by 26AS how to fix this
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Taxation pursuant to redevelopment