Answers By Expert: Law Intern
A company has transferred certain employees to another group entity along with the related Gratuity and Leave Encashment provisions. The receiving company has increased its provision by debiting the transferring company, and the transferring company has reduced its provision by crediting the receiving company. No actual payment has been made to the employees so far. As per my understanding, the amount transferred should be allowed to the transferring company by treating it as a paid amount, and disallowed for the receiving company as an expense not actually paid under Section 43B of the Income-tax Act, 1961. Kindly clarify whether this…
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is it covered u/s 45[4]/9B if 1] donee is a pvt trust for relative 2] donee is a pvt trust for non relative
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When these sections i.e. 194 JA and 194 JB were introduced in the Income Tax Act 1961?
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Assessee took fraudulent cenvat credit by fake invoices. Admitted the same during search. Upon order of DCGST paid the entire principal amount of duty . Can it ( not interest & penalty) be claimed u/s 43B or will it be hit by Explanation to section 37 ?
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During the F.Y 2024-25 the assessee sold the coal and on that 206-CJ i.e.. TCS liability arises TDS u/s 194Q was done by purchaser Query : Whether in view of the fact that purchaser has made TDS u/s 194Q than the seller is not liable for TCS u/s 206-CJ ?
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when a new shop is allotted after redevelopment, is it taxable ? any case law ? does it make if it was depreciable ?
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Can AO add share premium u/s 68 when share capital for the same is not added ? any case law ? 56[2]viib was non existent in earlier years !
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My mother has invested her money to start a dental clinic. She is not a professional and is just a housewife. We don’t expect big revenue and doesn’t want the hassle of keeping books. The question is can she use 44 AD? The question comes because of contrasting ITAT Verdicts. One type is attacked below(Ranjith Jena case) . But then there is Kety Medicare case of 2025 where ITAT says the opposite(the settings allow only one pdf file to be uploaded. Else i could have uploaded Kety case as well). I am not educated in law to see the difference…
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Are additions made based on documents recovered from a third party sustainable? A copy of the document is not shared with the assessee during assessment.
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Dear Sir/Madam, Through a registered gift deed dated 04th August 2025, my mother has gifted her self acquired flat in Mumbai to me, basis of which I have become 100% owner now. She had originally purchased this flat in September 1993 out of her own funds. The flat, originally measuring 355 sq ft, is under redevelopment stage and due to FSI benefit, the new flat to be allotted is for 472 sq ft. However, I have also opted to purchase an additional area of 23 sq ft in this flat, due to which I will receive the new flat measuring…
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Gratuity and LE in case of transfer in group entities