Answers By Expert: Research Team
I have transferred some shares to my wife. The income from dividends is offered by me u/s 64 for taxation. However I do not get the benefit of TDS made on those dividends. What steps I am required to take to claim the TDS in my return which is shown in her Form 26AS.
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Post "New Noble Educational Society 'judgement of SC, what is Reasonable mark up ? Whether section 11 is virtually overridden? Is it at par with now litigation in Transfer pricing ?
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order u/s 127 passed by cit without hearing Assessee. can it be challenged before ITAT in the absence of provision u/s 246A? what is the remedy once asst is over ?
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before amendment in 2020, 2 sections , notices u/s 153C and 148 had been issued without proper jurisdiction. whether issue of one in the place of other makes order of asst void or liable to curable defect?
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Assessment u/s 143(3) for asst year 2006-07 was made on 31/3/2008.Assessee paid demand determined.Notice u/s 148 was issued and 143(3)/147 order passed on 31/12/2009 and new demand raised.Assessee paid the demand within 30 days and gone to appeal.In appeal the CIT(A) gave major relief in 2012/ITAT gave major relief in 2015. Now the AO give appeal effect orders in FEBRUARY 2022 for both CIT(A) /ITAT ORDERS but interest u/s 244A/244A(1A) was given at 6 pc per annum. My query is whether interest u/s 244A(1A) of additional 3 percent interest per annum is applicable to assessee. Q 1)Why the same was…
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Is it possible to defer tax on capital gain by making a clause in agreement that transfer is piecemeal on payment only ? Is it possible to adopt cash basis of accounting for capital gain ?
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Is there any case law which favours the assessee that the creditors have been shown in balancesheet for more than 10 years but profitability u/s 41(1) should not be arise in case of closure of business also.
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Whether remittance by employer of employees' contribution towards professional tax falls within the ambit of section 36(1)(va)?
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Sir , We have already paid tax settlement amount demanded by IT under Vishwas Se Viwad Scheme. We withdraw the appeal in portal as well by uploading Form 1,2 & 3. But we were late in replying Form 4 payment details because of my father medical condition. But we have already paid tax settlement amount as demanded by IT within given time. It just that we failed to submit Form 4 on time for which we got few notices. Now we have submitted Form 4 and it show Awaiting Form 5 from CIT on portal. What can be possible outcome…
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Assesee is LLp and engaged in the business of call center. For procuring business, assessee has paid Re. 5 lakh as commission after deduction TDs and claimed it as deduction as business expenditure. Assessee has given confirmation from the party along with PAN n paid the amount by account payee cheques. Ao issued summons U/sec 131 to the Act, to the party, mail ID is block. Ao has issued show cause to the assessee asking as to why this expenditure should not be disallow as party has not filed copy of IT return of the recipient . Whether action of…
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TDS on dividend income on shares transferred to wife