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| Professionals taxation | |
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| Excerpt of query: | sir, Whether A Professional Can Report Income Less Than 50% Of Gross Receipts In Their Income-Tax Return If They Maintain Proper Books Of Account And Without Tax Audit Report |
| 54F | |
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| Excerpt of query: | A has made payments for a flat during the year under ref ; but agreement was made more than 2 years before the said year; can A claim exemption u/s 54F ? any case law ? |
| is Section 56(2)(x) applicable in this moot problem ? | |
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| Excerpt of query: | |
| cost of penny stock | |
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| Excerpt of query: | LTCG declared under ids 2016 but its cost was not disclosed being a payment from disclosed bank a/c can ao issue notice u/s 148 for taxing cost of penny stock ? any case law ? |
| A SOLD HIS RESIDENTIAL HOUSE FOR 40 LACS ON JAN 2025. COST OF ACQUISITION 13LAC ON AUG 2011 AND A PURCHASE NEW HOUSE WITH THE NAME OF HIS SON AND SPOUSE FOR RS 45 LAC. PLEASE INFORM IS EXEMPTION U/S 54 OF THE INCOME TAX ACT APPLICABLE TO HIM OR NOT | |
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| Excerpt of query: | IS EXEMPTION U/S 54 APPLICABLE IF NEW HOUSE PURCHASE IN THE NAME OF SPOUSE AND SON? |
| 168A | |
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| Excerpt of query: | 1] if more than 1 executors are there, what will be rate of tax MMR or slab ? 2[ case law ? |
| Income tax about TDS credit | |
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| Excerpt of query: | In a case where the TDS credit is reflected in Form 26AS but the corresponding TDS amount has not been accounted for in the books of accounts in the current year and is instead accounted for in the next year, let’s understand this with an example: The TDS credit is claimed in FY 2020-21 while filing the income tax return, and the same credit is reflected in Form 26AS for FY 2020-21. However, the TDS is recorded in the books only in FY 2021-22. The question is: In which year is it legally and logically correct to claim the TDS credit? |
| receipts | |
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| Excerpt of query: | Mr A has not withdrawn any rupee from bank after receiving Rs 50 lacs in bank . What is his income u/s 44ADA ? Mr B has not withdrawn any rupee from bank after receiving Rs 2.9 cr in bank . What is his income u/s 44AD ? |
| 148A[3] order | |
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| Excerpt of query: | Is this order eligible for revision u/s 264 ? any case law ? if revision u/s 264 refused, what to do ? If rejected on merits u/s 264 what to do ? |
| INCOME TAX QUESTION | |
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| Excerpt of query: | Sir, A Doctor (landlord) has rented out their hospital premises to another doctor (tenant), who provides healthcare services there. The tenant doctor earned ₹40 lakhs from a healthcare trust for medical services rendered, but the payment was mistakenly credited to the landlord doctor’s bank account. TDS under Section 194J was deducted, and this amount is now showing in the landlord doctor’s AIS (Annual Information Statement), linked to their PAN. The healthcare trust has stated that it cannot change the PAN or reissue the TDS certificate. For income tax compliance, how should the ₹40 lakhs be correctly transferred from the landlord to the tenant doctor? Can this transfer be done without triggering further TDS or tax implications? What is the correct procedure to document this transfer and clarify ownership of income for tax purposes?” |