Answers By Expert: Law Intern
Sir I retired in july 2021 and claimed full exemption on leave encashment but now ito has allowed only 3 lac. what can be done.
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During search at third party , certain documents were seized . These document revealed transactions of acceptance of cash loans etc. As these entries are beyond 5 years relevant to assessment year for which reopening can be done, AO instead of reopening ( as AYs are time barred) ,directly issues notices of penalty u/s 271D . Where this is valid notice ?
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The assessee filed application for seeking rectification on the order passed by the AO, rejected for the reason return not filed. Can it be appealed before the CIT...
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I am a bank employee retired on 31/10/2020 . I got leave encashment for rs 850000/- but beyond 3 lakhs tax has been deducted. Now my query whether I am eligible for exemption for full amount. If so any judgment copy is there. Thanks
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I RETIRED ON JULY 2015 AND RECEIVED LEAVE ENCASHMENT OF RS 638000/- PLUS AND GOT EXEMPTION OF TAX ON RS 300000/- AND PAID TAX ON BALANCE. AS PER CBDT NOTIFICATION THE LIMIT ENHANCED TO RS. 25 LAC HENCE NEEDS TO BE REVISED AND REFUND. PLEASE LET ME KNOW WHETHER I AM ELIGIBLE TO CLAIM IF NOT PLEASE PROVIDE THE DOCUMENTARY REASONS. AS MANY OF THE ITAT CASES DECIDED IN FAVOUR OF THE PENSIONERS. REGARDS GULSHAN ARORA CONTACT 9811922049 MAIL gularora123@gmail.com
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The addition made in the assessment order arises solely due to a difference of opinion regarding the applicability of Section 44AD vis-à-vis Section 44ADA The Assessing Officer proposing notice for initiation of penalty proceedings under Section 270A Any case laws referring Sec 270A sec 44ADA Sec 44AD
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1] how many generations can it cover ? 2] will 56[2] x affect family arrangements since cousins are not falling under defn of relatives 3] will it attract stamp duty
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Seller has received Advance of Rs.10 Crores from Buyer on 29-03-2025 as advance against supply of goods. On the said sum Buyer has deducted TDS of Rs.95000 u/s 194Q.The said amount of TDS is appearing in 26AS of Buyer. 1-Whether Seller can claim credit for TDS in his ITR for Asst. Year 2025-26 when goods are supplied in next financial year i.e in April 2025. 2-Whether Seller can claim credit for TDS of Rs. 95000 in his ITR for Asst. Year 2025-26 when the whole amount of Advance (net of TDS of Rs. 95000)is returned to Buyer in April 2025…
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I have purchase a under construction apartment from a buyer (second party) at total consideration of 15950000 ( including 662605 GST). In Builder Buyer agreement value of apartment was 13914000 (including 662605 GST) I have paid Rs 8993000 to first party. Balance I will pay to builder in installments. Today I paid 3350000 installment to builder. I need to 1% as TDS on property. My query is what amount I need to put in TOTAL VALUE OF CONSIDERATION (PROPERTY VALUE) while paying TDS on installment amount. Will it be 15950000 OR 13914000 ??
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Sir, I have been asked to file application u/s 264 against my grievance. The portal has no option to file the same. Since even after adding additional income my tax outflow is nil after 87A. What if I ignore 264 and don't file application.
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income tax on leave encashment