If Mrs.A gift shares which cost is 2 lacs source is explainable in the year 2000 and now the market value is 2 Cr to Relative , which precaution to be taken so that it is not added in Sec 68. Is there any restriction on amount to be gifted to relative and is there any occasion is required to give gift to be exempt u/s.56(2)(x)? What documents to be prepare for Gift of 2 Cr of listed shares other the Gift Deed? Whether Donee has to disclose in ITR and if so what value to be disclosed?
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Sir, Assessess fees collection from patients income rs:25 lacs f.y.23-24 itr returns filed but fees collection from patients income rs:20 lacs f.y.24-25 Question: Assessee's income rs: 20 lacs itr returns filed f.y.24-25 after selecting of scrutiny provision mandatory applicable f.y.24-25 for it purpose
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Sir, A Doctor cash on hand balance physical verification match to account Book records difference rs:8 lacs amount show f.y.24-25 as on dt:28-02-25 Question: Assessess difference cash amount rs:8 lacs unexplained cash adjusted procedure f.y.24-25
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It person purchase of agriculture land rs:15 lacs year 2023 and selling of agriculture land rs:18 lacs to Name Mr.A dt:10-12-24 after another date dt:20-01-25 same agriculture land same per name Mr.A purchase of agriculture land rs:19 lacs Question: Assessess above transaction purchase and sales capital gain tax applicable for it act
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An assessee bought a rural agricultural land in 2011-12 as it is a rural agricultural land it does not classify as a capital asset, As on today's date i.e. 19/03/2025 rural agricultural land only. Suppose he converts the land to a residential land on 01/04/2025 (It will classify as a capital asset) and sell the whole set of Residential land in 2025-26 only. Query: What would be the period of holding, would it classify as LTCG or STCG? (As the assessee is not in the business of Real Estate or developing or selling of land and not having any more…
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0X OR IS THERE ANY WAY TO COME OUT OF IT IF A TRUST RECEIVED DONATION PRIOR TO RECEIVING REGISTRATION U/S 80G AND 12 A . HIS TOTAL RECEIPT WAS THUS 724600, MADE EXPENDITURE EXCEPT RS 10640/ IN CHARITABLE PURPOSES WILL IT ATTRACT NECESSARILY 56(2)(x)
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Sir, It assessess cash Gift to grandson rs:1 crore amount through on bank channel mode dt:10-01-25 Assessess source of income fds cancel after gift money amount paid to grandson but assessess capital account balance rs:50 lacs show in balance sheet Question: Assessess gift transaction taxable or exempt and different amount rs:50 lacs sec 68 provision applicable for it act.
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A Doctor sales of medicines turnover estimated rs:80 lacs yearly but consultation income rs:50 lacs yearly Question; A Doctor gst registered required compulsory and benefits of regular or composition scheme for gst purpose
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sir, I am dealing in second hand car and sold Eight car each valued Rs 6 lakh. And cost of each car is Rs 5 lakh. Gross Sales is Rs 48 lakh (6x 8) and value addition is only Rs 8 Lakh (1x8). As the Gross Turnover is above Rs 48 lakh which is above Rs 40 Lakh. Is liable for GST registration or turnover will be considered only 8 lakh as per rule 32(5), so not liable for registration. Please clarify it. If liable for registration. The GST will be 18% of 800000=144000 or by formula 800000x18/118= 122034
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AN INTERMEDIARY CREATE A WEBSITE FOR DOCTORS AND PATIENTS WHO CAN REGISTER ON IT FOR ONLINE CONSULTATION. THE FEES FROM PATIENTS COLLECTED BY THIS INTERMEDIARY AND DISTRIBUTE IT TO DOCTORS. THE INTERMEDIARY GET CERTAIN PERCENTAGE OF COMMISSION ON SUCH FEES. PLEASE ADVISE THE GST IMPLICATION AND TYPE OF REGISTRATION REQUIRED
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Gift of listed Company Shares within family relative