A company is earning capital gains from sale of shares attracting STT as well as capital gains from other shares/units of MFs without STT. Can the company adjust only the losses from the STT paid shares against the profit of non-STT paid shares without adjusting it against the profits from STT paid shares? Can the Income-tax department raise objection and adjust STT paid losses first against the profits from STT paid shares and only the remaining loss is allowed to be adjusted against profit from non-STT paid shares?
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We have received the Form 3 from designated authority regarding the payment of tax. In Form 4 we have to submit the details of tax paid along with the proof of withdrawal of relevant appeal. What is the procedure to pay the this tax. Whether it has to be paid through income tax portal or we can pay it offline through challan. Kindly guide me on the procedure to make the payment of tax after receiving Form 3
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where can i get email id of Deparmental representative - Mr Sanjay sethi.
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How & to whom an application for directions of the JCIT or the Addl CIT is to be submitted for directions u/s 144A, in the Faceless Assessment Scheme?
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A query was answered by Adv.Advocate Aditya Ajgonkar The Ld. advocate stated that the last date for issue notice u/s 148 was extended to 30.06.2021 but section 148A is also effective from 01.04.2021. My query is that section 148 has been extended as if Finance Act 2021 was not passed hence extended upto 31.03.2022. Similarly, application of section 148A is also deferred till 31.03.2020. Can you pl confirm & provide notification Nos>
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When the second wave of Covid-19 was at its peak and people were dying merely for the lack of oxygen beds in the country, the DGFT, vide Notification 4/2015-20 amended Para 2.25 of Foreign Trade Policy, 2015-20 allowing duty free imports of Oxygen Concentrators for personal use through post, courier or e-commerce portals in the list of exempted categories, where Customs clearance is sought as ''gifts", till 31 July 2021. No enabling provisions for relief has been made in any other laws till date. Assuming that an Oxygen Concentrator costs upwards of Rs. 1.5 lakhs, if an Oxygen Concentrator is…
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Sir, An individual has taken a loan from bank of Rs2cr and has given as a loan to the firm as a partner.Would like to know whether the interest paid to the bank would be allowed as a deduction from interest income earned from the firm u/s 57(iii) as there being a direct nexus between taking of loan and lending the said amount to the firm.
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Hi, I have two questions regarding above title. Can we search for single PAN functionality for section 206AB & 206CCA through income tax portal? While doing the bulk search, after uploading the csv file of PAN ,the page is not loading, is anybody facing the same issue?
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NRI got foreign income earned outside India by rendering services outside India and money received outside India and no way connected to India of such income sources. But NRI is also having property income of Indian asset... return of income to be filed in India.... Which status Resident or NRI status is to file return...which income is to disclose in the status of Resident or in NRI status . Whether global income is to disclose and claim DTAA relief under 90/90A/91 irrespective of whether filed in the status of Resident or in NRI status...
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Whether Long term capital loss on listed securities (STT paid on buy & sale both) can be computed by following the section 112(1) by taking benefit of indexation as given in second proviso to section 48. Whether section 112A is mandatory to be followed or it is an option to choose either section 112 or section 112A whichever beneficial to assessee while computing long term capital loss. Or if the computation results in a gain, assessee will have to re-compute the capital gains having regard to the provisions of section 112A of the Act.
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Capital gains without STT , set off of losses .