Whether builder developer is required to deduct tax on amount paid to the existing members by way of rent for alternative accommodation as well as corpus and other sum paid as part of development agreement?
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Mr. A is a proprietor of various business having different trade name and place of business but the nature of business is same. Can he transfer the business to M/s. A Ltd company after retaining immovable property in his name so no capital gain tax is payable. Is it necessary to transfer it’s entire business with all assets and liabilities to the A Ltd company?
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A resident paying rent to NRI, deducting TDS @ 31.20%. However at the time of filing return (form 27Q), he did not mention the PAN and straight away mentioned “PAN not available” At what rate TDS is deductible ?
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Whether there are any judgements in which it is held that the provisions of section 56(2)(x) of the Income Tax Act, 1961 are not applicable in case of bonafide purchase of property. The difference between SDV and the sale consideration cannot be taxed under 56(2)(x) in case of bonafide purchase.
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Sir, Assessee an individual sold shares and earned long term capital gains (AY 2024-25). Invested in two adjoining flats by two seperate agreements, making two flats as one. Whether can claim exemption u/s 54F - refer word ONE residential house in Sec 54F. Please provide supportive case laws
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AOP assessed at MMR of tax is paying tax at 30% with no exemption and tax is not levied based upon slab rates. It has non agricultural income of Rs 3,00,000/- and Agricultural income of Rs 40,00,000/- One of the basic condition of partial integration is that it should have non ari income above the exemption limit. Since this is an AOP taxed at MMR it has no exemption limit. In such a case will partial integration of the agricultural income be justified? The AO claims its justified. Since the AOP is not taxed at slab rates, the AO has…
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Penalty u/s 271DA was imposed against the assessee but details of the transaction have not been given in the SCN issued before imposing penalty. Even the amount of penalty to be imposed not mentioned in the SCN. Is the penalty is valid.
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One assessee has purchase new residential property for section 54F benefit. Whether GST and Stamp Duty Paid on New Flat is allowed as deduction ?
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Sir, my assessee has sold a depreciable asset which was held for more than 3 years, the resultant gain has to be assessed as LTCG as held in Smita Conducters Ltd v. Dy. CIT (2015) 152 ITD 417 (Mum.)(Trib.) and other judgements. However, it appears that the Form prescribed for filing the Income Tax Return does not permit the gain to be offered as a LTCG. If the gain is not shown as STCG, the Form will not validate and the return cannot be filed. What is the remedy ? How to fil the return form ?
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Can a private limited company issue shares to a founder at NAV method or at facevalue if the company has already raised substantial amount of money and has a 250 times valuation compared to the NAV? Can the company do rights issue and allot shares to promoter? Such shares are given as a compensation to her committment.
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(No TDS on hardship and other sums)