Answers On Category: Income-Tax
Action Taken - 30 lacs invested from joint acct in Sr citizen saving scheme for wife in Jan 24 from PF recd by husband . - interest accruing reflected in wife’s AIS -- Question - Can the amount of 30 lacs be gifted to his house wife . - Is this in order ie interest reflected in wife’s acct is the interest - Should the interest accrued be reflected in wife’s return - If yes IT provision pl Thanks
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Can Partnership Deed provide in their deed as under: "The Partnership business shall be that of share Investment, Mutual Fund Investment and Other Investment." Is there any restriction of RBI / SEBI/NSDL for such type of investments which otherwise can be done by PVT LTD by proper NBFC License. As business clause suggest share investment the benefit of Long term or short term will not be available and firm will have to pay flat rate of 33% on such profit?
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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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Provision of Sec 56(2) x