Whether the purchase of property belong to husband by the wife is eligible to exemption u/s 54F of the Act ?

THE WIFE EARNED LONG TERM CAPITAL GAIN ON SHARES. WHETHER SHE CAN PURCHASE HUSBAND HOUSE(EXCLUSIVE IN HIS NAME) TO AVIL THE BENEFITS OF ADJUSTMENT U/S 54F AGAINST LTCG.

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  Whether Agricultural income can be assessed as cash credits ?

Dear Sir, Assessee is an Agriculturist and has only Agricultural Income apart from that he does not have any source of income, can AO levy tax on the said Agricultural Income u/s 68 of the Act, if the assessee fails to produce Agricultural sale bills. Agricultural Income which was shown in the return of income is not deposited into bank account nor he purchased any assets he again utilized for agricultural purpose only.  

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  Whether amendment in section 43B and Section 36(1)(va) are applicable retrospectively ?

Whether these amendments are applicable retospectively or from AY 2022-23 (more…)

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  While computing the capital gains Does subsequent registration of the documents have to adopt the higher value than the guideline value, for which the latest registration of the property executed?

Does subsequent registration  of the documents  have to adopt the higher value than the guideline value,  for which the latest registration of the property executed?

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  Whether the assessee can claim deduction u/s 80D in respect of medical premium payment ?

Myself (aged 58 years) is paying Mediclaim premium for my family (myself,wife and two daughters) and also paying Mediclaim for my parents (father aged 86 years and mother aged 81 years).  I  do claim the benefit under 80D for the premium paid for my family as well as parents. My father has an average yearly expenses of Rs 20000/ for Medicines on hypertension and my mother for some preventive medicines (recently had breast cancer surgery done). Can my father (who is a taxpayer with income marginally higher than Rs 5 Lakhs) claim deduction under 80D for the medical expenses ?…

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  Whether issue of Notice u/s.148 on the basis of information received from the Bank is valid ?

Client have  44AD income for A.Y. 14-15. Turnover declarared Rs. 35 Lakh in return. REason to believe stated as " Bank has given information that total Credit sum in Bank account is 56 Lakh and turnover declared is 35 lakh, difference remains to be unexplained ".   Question : 1. Whether above reason to believe is correct as given by AO. As the same is just took from AIR and given to us. and also same details was already available 6 years back, why not 143(2) was issued at that moment of time...so it is change of opinion just. kindly…

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  When an order is passed u/s.153A, can it be revised by PCIT u/s.263 of the Act ?

once order is passed u/s 153A/C , can it be revised by PCIT u/s 263 ?

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  Whether employees contribution towards PF and ESIC paid after due date and before filing of return is allowable as deduction.?

Whether employees contribution towards pf and esi paid after due date as precribed under the prescribed under the law is disallowable u/s 36 of the IT Act, 1961 though paid within due date of filing return as per S43B of the It Act 1961

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  Whether DLC price is used in net consideration for calculation of exemption u/s 54F of the Act ?

Weather DLC price is used in net sale consideration for calculation  of  exemption u/s 54 F or actual sale consideration value is used.

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  Whether reassessment Notice u/s 148 issued in the name of dead person is valid ?

DEAR SIR ASSESSEE HAD FILED ITR FOR AY 2013-2014 ON TIME. 143(1)(a) ORDER IS PASSED. ASSESSEE EXPIRED DURING AY 2019-20 (INTIMATION NOT GIVEN TO DEPARTMENT) LATE ASSESSEE HAS ONLY DAUGHTER IS LEFT AS LEGAL HEIR AND DAUGHTER IN-LAW, AS DURING COVIDE HER SON ALSO EXPIRED. DEPARTMENT HAS ISSUED 148 NOTICE DATED 24.04.2021 FOR REOPENING OF AY 2013-2014 CASE IN THE NAME OF THE DECEASED ASSESSEE. FINANCE ACT HAS AMENDED SEC.148/148A QUERY. IS THIS REOPENING NOTICE VALID AS IT IS BEYOND 6 YEARS. IF NOT HOW TO COMPLY THE NOTICE AS IT IS FACELESS.? CAN THE DAUGHTER IN LAW FURNISH THE…

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