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| DTVSV Form 4 received | |
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| Excerpt of query: | Dear Sir, I received DTSV Form 4 and refund written under Form 4? But still the refund is not received in bank. it is almost 3 months gone after issuing Form 4. When I will get Refund |
| Cost of acquistion in case of conversion of Company to LLP | |
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| Excerpt of query: | In case of conversion of a Pvt. Company into LLP, section 47(xiiib) conditions are not satisfied and the conversion is treated as a “transfer” and capital gains is taxable in the company’s hands on FMV of Land. In this case, if original cost of purchase of land was 100000/-, book value was also 100000/- but at the time of transfer to LLP, the company has paid capital gain tax on FMV Rs. 200000/-, so when the LLP sell this land in future, its cost of acquisition will be 200000/- or 100000/-? This case is not covered in section 49. Can the LLP claim cost of acquisition = FMV on which is company has paid tax? If yes, any backing of provision or case law? |
| section 9B | |
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| Excerpt of query: | we need following clarifications 1] when a builder allotted a flat to a retiring partner , what are the entries to be passed by the firm ? 2] whether GST is applicable ? 3] whether 194IA is attracted ? 4] whether only sale- purchase is taxable ? 5] how to find cost of flat under construction? 6] how to report in Tax audit report ? 7] whether FMV=stamp duty value in this case ? 8] GAAR is applicable ? |
| Refund under Vivad se Vishwas DTVSV 2024 | |
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| Excerpt of query: | I received form 4 under Vivad se Vishwas DTVSV 2024 where refund is mentioned. But almost 3 months passed, I have not received refund. How much time it takes for refund after receiving form 4 under DTVSV, is any other procedure i need to follow for refund purpose. |
| Confusing status regarding Form 10-IEA for ‘Opting Out of New Tax Regime’ | |
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| Excerpt of query: | Dear sir I would like to bring out the confusing instructions on Form 10IEA by the Income Tax Department. It says that for ITR 3 it is mandatory to submit Form 10 IEA to opt out of New Tax regime. But it does not clarify that if you have opted out already then the filling of this form again will be Opting you in for the New Scheme, in short it is like a toggle button. You fill the form in 2023, you opt out of new scheme but when you fill the form in 2024, the next year, you are compulsorily opting in for the new scheme. But in all pamphlets and website this aspect is not highlighted, this is hidden subterfuge by which Income Tax payers especially veterans like me who failed to understand the provisions are being trapped to opt-in for the new scheme. The other ITRs you are allowed to choose every year but those filing ITR3 are being trapped by this very craftily designed provision. I filled the form in 2024 for opting out of New Tax Regime and not knowing this toggle character filled the form 10IEA again this year on 12 Aug 2025 as the Income tax website says that 10IEA is mandatory for ITR3. There after I was trying to submit my return in old regime but failed to do so as I was getting some upload level error and raised tens of grievances but I did not get any resolution. Then I checked from a CA and I got a shock that I had inadvertently opted in for the New Scheme. So I called the Income Tax department on 08 Sep 2025, explaining to the officer that I would like to cancel my Form 10IEA as I have filed it in error and it is well within the time limit of last date of ITR filing which happens to be 15 Sep 2025. But I was informed that the form can not be cancelled if filled. Now this is not at all correct sir, I am a veteran, and I file my returns myself and a tax payer for more than three decades, I committed an error but I am not being allowed to correct it, this is like a dictatorial authority through which you are being forced to opt for new tax regime. I strongly believe that next year I will not be allowed to fill the form stating that I have already filled it twice. I filled it in error this year and I want it cancelled but I am not being allowed to do that. Sir, I am sure this is not my story only but of many like me, who thought that Form 10IEA is mandatory to be filled to opt out of New Scheme as I found that lot many ITR filers are facing same error at the upload level. My request to you is to allow me to withdraw my Form 10IEA this year and I request you to please accord priority. As per any law of any land, if you fill in a form and realize that it is filled in error, you are allowed to cancel it and as for this form there is still a period of six days for the filing of ITR as per regular filing. Thanking you Sincerely Sanjay Mohan |
| section 9B vs GST | |
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| Excerpt of query: | Does Gst apply when stock is allotted to partner ? |
| capital asset given to partner | |
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| Excerpt of query: | whether section 9B will apply of section 45[4] ? what is the distinction ? |
| stock vs section 9B | |
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| Excerpt of query: | when a flat under construction is allotted to a partner, what is the entry to be passed by the firm/partner ? what is FMV u/s 9B in above case ? is form 5C compulsory ? |
| flats on development of land | |
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| Excerpt of query: | Is it taxable on signing of DA ? or only when possession is given ? |
| tax evasion petition | |
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| Excerpt of query: | what is the impact of such petitions filed with /without identity against any tax payer by a complainant ? Is it an evidence for 148/263 etc ? |