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Some of the queries asked by people are given below.

During the assessment proceeding U/s 153C whether the A.O can make enquiries relating to the issues other than issues covered by the reason recorded for issuance of notice u/s 153C of Income Tax Act.
Excerpt of query:	During the assessment proceeding U/s 153C whether the A.O can make enquiries relating to the issues other than issues covered by the reason recorded for issuance of notice u/s 153C of Income Tax Act. During the course of assessment proceeding U/s 153C whether the A.O should confine the finding only to the extent of the reasons recorded for issuance of a notice U/s 153C or can he go beyond the reasons recorded. Thank you read more

During the assessment proceeding U/s 153C whether the A.O can make enquiries relating to the issues other than issues covered by the reason recorded for issuance of notice u/s 153C of Income Tax Act.

Excerpt of query:

During the assessment proceeding U/s 153C whether the A.O can make enquiries relating to the issues other than issues covered by the reason recorded for issuance of notice u/s 153C of Income Tax Act. During the course of assessment proceeding U/s 153C whether the A.O should confine the finding only to the extent of the reasons recorded for issuance of a notice U/s 153C or can he go beyond the reasons recorded. Thank you

When a transporter having more than 100 Cr of Turnover purchases Diesel from Indian Oil Corporation Ltd and receives Petro Cards of the same amount is he liable to deduct tax at source u/s 194Q of the Act ?
Excerpt of query:	A transporter having more than 100 Cr of Turnover purchases Diesel from Indian Oil Corporation Ltd.It makes advance payments to the Co and in return receives Petro Cards of the same amount.The no. of Petro Cards and value charged to each card is as per the requirement of the transporter. The driver of the individual truck is buying diesel from any dealer of the IOC located on his allotted route by swiping the Petro Card on the POS machine kept at the pump.The pump owner hands over a machine generated slip of the quantity of diesel filled and amount thereof. In this scenario how the transporter shall comply with provisions of section 194Q? When and on which amount shall it deduct TDS? read more

When a transporter having more than 100 Cr of Turnover purchases Diesel from Indian Oil Corporation Ltd and receives Petro Cards of the same amount is he liable to deduct tax at source u/s 194Q of the Act ?

Excerpt of query:

A transporter having more than 100 Cr of Turnover purchases Diesel from Indian Oil Corporation Ltd.It makes advance payments to the Co and in return receives Petro Cards of the same amount.The no. of Petro Cards and value charged to each card is as per the requirement of the transporter. The driver of the individual truck is buying diesel from any dealer of the IOC located on his allotted route by swiping the Petro Card on the POS machine kept at the pump.The pump owner hands over a machine generated slip of the quantity of diesel filled and amount thereof. In this scenario how the transporter shall comply with provisions of section 194Q? When and on which amount shall it deduct TDS?

Can a son claim deduction u/s 24(b) , if he is not the co-owner of the property ?
Excerpt of query:	Regarding the deduction available u/s 24b of Income Tax Act, Can a son who is the co-borrower of the loan taken claim the deduction u/s 24(b). Please note that he is not the owner/co-owner but complete EMI is getting deducted from his bank savings account. His mother is the only owner of the property. Please help on this issue. Thanks read more

Can a son claim deduction u/s 24(b) , if he is not the co-owner of the property ?

Excerpt of query:

Regarding the deduction available u/s 24b of Income Tax Act, Can a son who is the co-borrower of the loan taken claim the deduction u/s 24(b). Please note that he is not the owner/co-owner but complete EMI is getting deducted from his bank savings account. His mother is the only owner of the property. Please help on this issue. Thanks

Presumptive Income under section 44AD of the Income tax Act 1961 how many years the assessee can continue ?
Excerpt of query:	Individual or HUF who opt for Presumptive Income under section 44AD, is he continued till turnover not exceed as prescribed by law or he will continue for only five years from the date of first year when he opt for Presumptive Income. read more

Presumptive Income under section 44AD of the Income tax Act 1961 how many years the assessee can continue ?

Excerpt of query:

Individual or HUF who opt for Presumptive Income under section 44AD, is he continued till turnover not exceed as prescribed by law or he will continue for only five years from the date of first year when he opt for Presumptive Income.

Whether the assessee is liable to deduct tax at source on reimbursement of expenses ?
Excerpt of query:	An Indian company has engaged a foreign company to keep some employees selected by Indian Company to keep on its ( foreign company ) pay rolls . The foreign company shall take payment from Indian company towards salary and other out of pocket expenses of employee and pay to employees, it shall also take care of local labour laws compliances and shall get % of the the total payments as its fees. What shall be treatment of this payment in hands of Indian Company – whether it shall FTS or payment of business profits for determining if withholding tax to be deducted.Any case laws on this . Thanks read more

Whether the assessee is liable to deduct tax at source on reimbursement of expenses ?

Excerpt of query:

An Indian company has engaged a foreign company to keep some employees selected by Indian Company to keep on its ( foreign company ) pay rolls . The foreign company shall take payment from Indian company towards salary and other out of pocket expenses of employee and pay to employees, it shall also take care of local labour laws compliances and shall get % of the the total payments as its fees. What shall be treatment of this payment in hands of Indian Company – whether it shall FTS or payment of business profits for determining if withholding tax to be deducted.Any case laws on this . Thanks

Can the Assessing Officer from Raipur refuse to grant an opportunity of cross examination on the ground that the person who has given statement is resides at Mumbai ?
Excerpt of query:	Case of the assessee was reopened on the basis of third party information. The assesse asked opportunity to cross examination. But the same was rejected by the AO stating “Since the third party is a resident of Mumbai therefore the AO st Raipur is not empowered to issue summons to the above person so as to accord an opportunity of cross examination.” Is there any case law in favour of above contention of AO. If yes, kindly quote the same. Also, any case law rejecting the above facts of the AO is welcomed. read more

Can the Assessing Officer from Raipur refuse to grant an opportunity of cross examination on the ground that the person who has given statement is resides at Mumbai ?

Excerpt of query:

Case of the assessee was reopened on the basis of third party information. The assesse asked opportunity to cross examination. But the same was rejected by the AO stating “Since the third party is a resident of Mumbai therefore the AO st Raipur is not empowered to issue summons to the above person so as to accord an opportunity of cross examination.” Is there any case law in favour of above contention of AO. If yes, kindly quote the same. Also, any case law rejecting the above facts of the AO is welcomed.

Cash deposited in bank account and funds transferred to another account. Whether cash deposit can be treated as unexplained credit?
Excerpt of query:	Assessee fell in a trap in one arrangement where one person gave him cash which the assessee deposited in his bank account. And on the same day of cash deposit the funds were transferred back through NEFT to that person’s bank account. Now the ITO wants to treat cash deposit as unexplained credit. That person is now co-operating and not giving his confirmation that he had instructed assessee to do so. Assessee has given affidavit that the cash which was deposited belongs to that one and also the assessee has transferred the funds back to his account. No other document is available with assessee to prove that he is genuine and cash does not belong to him. What grounds is available to assessee to prove his stand and delete the addition ? read more

Cash deposited in bank account and funds transferred to another account. Whether cash deposit can be treated as unexplained credit?

Excerpt of query:

Assessee fell in a trap in one arrangement where one person gave him cash which the assessee deposited in his bank account. And on the same day of cash deposit the funds were transferred back through NEFT to that person’s bank account. Now the ITO wants to treat cash deposit as unexplained credit. That person is now co-operating and not giving his confirmation that he had instructed assessee to do so. Assessee has given affidavit that the cash which was deposited belongs to that one and also the assessee has transferred the funds back to his account. No other document is available with assessee to prove that he is genuine and cash does not belong to him. What grounds is available to assessee to prove his stand and delete the addition ?

Whether cash received on sale of rural agricultural land attract provisions of S. 269SS ?
Excerpt of query:	whether cash received on sale of rural agricultural land attract provisions of sec. 269SS? as it is neither loan nor deposit nor any advance as mentioned in specified sum.. I think correct application would have been of Sec. 269ST, however assessee got notice u/s 269SS. Couldnt find any proper judgment on this aspect. If anyone here can throw some light, it would be great! read more

Whether cash received on sale of rural agricultural land attract provisions of S. 269SS ?

Excerpt of query:

whether cash received on sale of rural agricultural land attract provisions of sec. 269SS? as it is neither loan nor deposit nor any advance as mentioned in specified sum.. I think correct application would have been of Sec. 269ST, however assessee got notice u/s 269SS. Couldnt find any proper judgment on this aspect. If anyone here can throw some light, it would be great!

Application of section 68 on the opening capital assets generated after payment of tax in earlier years
Excerpt of query:	The assessee has filed his return of income for A.Y.2018-19 showing total income from business both as proprietor and as partner in partnership firm like earlier year and shown the complete capital assets held in proprietorship firm and partnership alongwith immovable properties held in his name in ITR of the above assessment year. However, by mistake In ITR filed for A.Y.2017-18 by mistake the capital assets of proprietorship firm is only shown in particular of ITR instead of complete capital assets of all the firm while the income from all the sources truly and properly shown and assessed and nothing was concealed. National faceless assessment has assessed the difference in capital balance as on 31.3.2018 to capital balance as per iTR 31.3.2017 wrongly applied section 68 and taxed u/s 115BBE ignoring the replies and submission. It is to inform you that all the assets were generated after payment of taxes from the return of income in past earlier years and assessee is regular assessed to tax from last 30 years. Appeal filed with CIT. Huge amount of demand any other Remedy and case law in favour of assessee. read more

Application of section 68 on the opening capital assets generated after payment of tax in earlier years

Excerpt of query:

The assessee has filed his return of income for A.Y.2018-19 showing total income from business both as proprietor and as partner in partnership firm like earlier year and shown the complete capital assets held in proprietorship firm and partnership alongwith immovable properties held in his name in ITR of the above assessment year. However, by mistake In ITR filed for A.Y.2017-18 by mistake the capital assets of proprietorship firm is only shown in particular of ITR instead of complete capital assets of all the firm while the income from all the sources truly and properly shown and assessed and nothing was concealed. National faceless assessment has assessed the difference in capital balance as on 31.3.2018 to capital balance as per iTR 31.3.2017 wrongly applied section 68 and taxed u/s 115BBE ignoring the replies and submission. It is to inform you that all the assets were generated after payment of taxes from the return of income in past earlier years and assessee is regular assessed to tax from last 30 years. Appeal filed with CIT. Huge amount of demand any other Remedy and case law in favour of assessee.

How to fill S. No 6. in Re-registration u/s 12AA and 80G of the Act ?
Excerpt of query:	The assessee is a branch office of a foreign company in India approved by RBI and ROC and already registered u/s 12AA and 80G of the Act. The assessee is applying for renewal of registration u/s 12AA and 80G of the Act. S. No. 6 of the Form 10A (form for renewal of registration) asks the taxpayer to confirm whether the trust deed contains clause that the trust is irrevocable. In case of assessee, it only have Memorandum of objectives and aims which does not contain any article on irrevocability Whether the assessee should select Yes or No in S no. 6 in Form 10A ? read more

How to fill S. No 6. in Re-registration u/s 12AA and 80G of the Act ?

Excerpt of query:

The assessee is a branch office of a foreign company in India approved by RBI and ROC and already registered u/s 12AA and 80G of the Act. The assessee is applying for renewal of registration u/s 12AA and 80G of the Act. S. No. 6 of the Form 10A (form for renewal of registration) asks the taxpayer to confirm whether the trust deed contains clause that the trust is irrevocable. In case of assessee, it only have Memorandum of objectives and aims which does not contain any article on irrevocability Whether the assessee should select Yes or No in S no. 6 in Form 10A ?

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