A partnership firm was with two partners between Father and Son. Assets of the firm consist of immovable n movable assets. Father expired on 20.08.2020. There is no other member in the family. How to comply the following 1. What deed is to be executed so that relevant form regarding dissolution of firm can be uploaded. 2. How to intimate this to GST authorities and get the number change 3. Will there be any Tax liability U/sec. 45(4) and 9 B of the Act. 4. How to inform Income Tax Authorities about dissolution of Partnership
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I received form 3 on 27 september 2021. Do I get 15 days time to pay from 27 september 2021 or 30 september is last date?
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Assessee is partnership firm having 5 partners ,engaged in the business of construction. The firm has undertaken the construction of housing project. In the partnership deed, it is agreed by and between the partners that all partners will contribute the capital equally and their profit sharing is equal. It is also agreed that in case capital contribution is not made equally, then the profit sharing which is decided as equal, will be change as per the capital contribution by executing the fresh partnership deed. Accordingly partners have decided to execute the partnership deed and change the profit sharing ratio as…
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In calculation of deduction under section 54F whether actual sale consideration will be considered for net sale consideration or 50 C will you will be considered
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The assessee entered into a contract with an architect firm to provide design, drawings, structural drawings, interior designs etc. for a project for a period of three years. Please advise as to whether the TDS would be made u/s 194C or O194J, If u/s 194J then what would be rate of TDS i.e. 2% for technical services or 10% for professional services.
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A family comprising of Husband (SK), Wife (N) and a minor son (S) was assessed to tax as a Hindu Undivided Family(SK HUF). The husband expired and the HUF continued with the wife as manager as the son was still minor. The minor had his own income also which was being clubbed with his father, and after the death of the father the income was clubbed with his mother. The wife(N) got remarried to a divorcee (Y) who is having 2 daughters from his previous marriage. S, the minor son of the deceased SK and N is now not having…
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The assessee during the year under consideration sold unlisted shares on 16.06.2017 taxable as LTCG and claimed the deduction u/s 54F of the Act on account of amount invested in Residential House Property As per department the assessee is ineligible to claim deduction u/s 54F of the Act as he owned two residential house property, apart from the new residential property. Assessee has executed registered agreement for assignment of the flat owned by him on 05.04.2017. The assessee has received more than 97% of the consideration as on 30.04.2017 and accordingly gave the possession of the said flat. Affidavit of…
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Assessee is Partnership firm of two person, father and son . Firm has assets which includes immovable property on which depreciation is claimed and also other current assets like stock in trade etc. On 4.07.2020, one of the partners I.e. father expired . Since there are no legal heirs , the other partner I.e. son become the proprietor of the business. Kindly guide whether provision of Sec. 9(b) and 45(4) are applicable and implications in the hands of sole surviving member in the family.
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Ancestral Urban Agri. Land had been converted into NA Land in FY 2017-18 and ultimately sold in FY 2021-22. For the purpose of computing capital gains, while determining COA as on 01-04-2001, whose FMV is to be taken - i.e. applicable to Urban Agri. Land or NA Land? Also whether is it possible to take COA as on the date the Urban Agri. Land was converted to NA Land? Thanks.
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PROVIDE ME ALL THE JUDGEMENTS THAT ARE IN THE FAVOUR OF THE ASSESSEE WITH RESPECT TO JURIDICTION
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Procedure for intimation to Registrar of Firms.