Answers By Expert: Advocate Shashi Ashok Bekal
Assessee has agreed to sell a flat and made agreement with buyer, possession of flat is also given within time but consideration of flat is not received from buyer . Now question is they want to claim exemption by investing in 54EC Bond but the Sale consideration is not yet received. Stipulated time of investing in 54EC is over and still consideration is not received, is any case law to prove that transfer is still not completed as consideration is not received.
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CELEBRITY CRICKETOR WITH AN INTENT TO TO MAINTAIN GOOD IMAGE/SOCIAL STATUS AND TO GAIN MORE FOLOWERS AND NEW BRAND ENDORSMENT PURCHASES EXPENSIVE WATCH AND CLOTHES FOR HIM. Q1. CAN SUCH PURCHASE OF CLOTHS / WATCH BE CLAIMED AS EXPENSE DEDUCTION FROM BRAND ENDORSMENT INCOME AND CRICKET INCOME. CRICKETOR TAKES SHOULDER INSURANCE KNEE INSURANCE LEG INSURANCE I.E. IMPORTANT BODY PART REQUIRED TO PLAY CRICKET AND ALSO WITH A CLAUSE THAT IN CASE OF INJURY TO ANY SUCH PART DUE TO WHICH HE IS NOT ABLE TO PLAY MATCH INSURANCE COMPANY WILL REPAY. Q2 - CAN SUCH INSURANCE AMOUNT BE CLAIMED AS…
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Assessee is a charitable trust duly registered u/s 12A of the Act. Assessment for A.Y 2015-16 was completed u/s 143(3) of the Act in October, 2017 by assessing the income in the hands of the assessee as charitable trust which is registered u/s 12A of the Act. Registration u/s 12A was cancelled in May, 2018 on the ground that the trust had indulged in illegal activities by accepting capitation fees and therefore the trust is sham or bogus, disregarding the fact that the trust is involved in educational activities and also accepted by the department in past since its inception…
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is it taxable if purchase of sali land is below the stamp value u/s 56(2)x
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What should be the status under which ITR 5 needs to be filed in case of approved superannuation scheme? AOP or PDT?
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In the financial year 2021-22 assessee did trading business of cloth. His turnover is around Rs.2.50 lacs His expenses and receipts are total in cash. During the financial year he incurred a loss of Rs.30000/-. He maintains regular book of accounts and never opted Presumtitve Taxation . Is tax audit applicable in this case.
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Dear Sir, What if the spouse decides to put the sale consideration in Capital Gain Account Scheme and willing to purchase a residential property and don't want to pay the tax Please do solve my issue ???..
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Assessee is an individual and Hindu . He got married with another women in the life time of first wife. He had two children from first wife and a daughter from second wife. First wife expired and thereafter almost 25 years assessee and his second wife are living together as husband and wife and also accepted by all family and society. Assessee was also assessed to tax in the capacity of HUF also. The family members consisting of the children of first wife and the second wife and her daughter has decided to settle their disputes about the property of…
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I got Summon notice From income tax department under section 131(1A) by india post but i search income tax website but notice not showing Genuine
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Assessee is an individual and Hindu . He got married with another women in the life time of first wife. He had two children from first wife and a daughter from second wife. First wife expired and thereafter almost 25 years assessee and his second wife are living together as husband and wife and also accepted by all family and society. he had his HuF . He died with out having any will. what are rights in property of second wife and their daughter . whether they have any rights in properties of his HUF . pl guide .
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Source of Fund for investing in Sec 54EC