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| rule 112F | |
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| Excerpt of query: | CAN AO reopen cases of 10 years without passing order u/r 112F ? |
| Best Judgment Assessment | |
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| Excerpt of query: | Sir, My Query is if assessee got the Assessment order under Best Judgment Assessment, Liability of Tax Rs.58,00,000/- can he go for appeal with CIT or Can he go IT Tribunal Please suggest. Sirivella Gopal |
| Tax clarity on sale of redeveloped flat – ltcg or stcg | |
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| Excerpt of query: | My parents had a small flat 250 sq ft carpet area. I got it from parents after the demise in 2017 as I am legal heir. My only sister gave her release deed relinquishing her stake in March 2019. Flat went for redevelopment in August 2019 based on the Permanent Alternate Accommodation Agreement. During the redevelopment, I gifted the same under construction flat (before possession) to my wife in March 2022. New flat possession received in March 2024 in wife’s name (484 carpet area). Question: If wife sells it in june 2024, will it be LTCG or STCG? When should wife sell for LTCG? Mumbai based flat and it is ownership based and not pagdi. |
| Capital gains tax | |
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| Excerpt of query: | The AO passed the order with a condition that the the assessment will be revised once the DVO report is available. The assessee filed an appeal before CIT(A).Is it possible to revise the assessment us264 after the revised assessment order is received. Please clarify. Thanks |
| Taxation of undisclosed contract receipt | |
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| Excerpt of query: | Kindly inform Taxation of undisclosed contract receipt in case of civil contractor. Whether Gross Profit on undisclosed contract receipt will be taxed. Is there an case laws |
| Permanent Address Legal / Illegal ? | |
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| Excerpt of query: | My cousin’s daughter has been with my father since she was 6 months old. His father’s condition is not good so my father brought him to our house. After finishing her studies from our house. That’s why our house has all the certificates, pan, adhar, voter card address of the cousin. She left after her marriage. But now she comes back to our house. Even then she is using our address. Although her father’s house is different. After my father’s death I don’t want her to carry our address. Because that house is my father’s. What should I do in this case? My cousin’s daughter has been with my father since she was 6 months old. His father’s condition is not good so my father brought him to our house. After finishing her studies from our house. That’s why our house has all the certificates, pan, adhar, voter card address of the cousin. She left after her marriage. But now she comes back to our house. Even then she is using our address. Although her father’s house is different. After my father’s death I don’t want her to carry our address. Because that house is my father’s. What should I do in this case? |
| Son purchased property in the name of mother with his exclusive funds ,now can the mother sell the property without the knowledge of the son. | |
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| Excerpt of query: | Son purchased property in the name of mother with his exclusive funds ,now can the mother sell the property without the knowledge of the son. also the initial agreement with the seller was done by the son and the agreement carries his name stating that the funds have been paid by him. All these transacations were done in the presence of Snns uncle who is also a witness in the sale deed . Wat options do son have to claim the property |
| as an insurance agent, my TDS got deducted under section 194d, can i file return under 44ada | |
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| Excerpt of query: | As an insurance agent, my TDS got deducted under section 194d, can i file return under 44ada |
| WHAT CONSTITUTES ADDITIONAL EVIDENCE , | |
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| Excerpt of query: | Where in proceedings u/s 143(3) audited accounts were produced and assessment completed, thereafter in proceedings u/s 147, ex parte assessment made, can it be said that the accounts were not produced before Assessing Officer in proceedings u/s 147 and these will constitute additional evidence in appeal proceedings ? |
| Recovery Proceedings under GST | |
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| Excerpt of query: | Dear Experts, In one of the cases the department has allowed 30 days time time for payment of demand as per order in DRC07 passed under section 73 but time limit for filing appeal under sec 107(1) is 3 months. If one intends to file appeal after 30 days, the department may initiate recovery proceedings but the time limit for filing appeal has not yet expired. Whether we need to file any application to the department that though 30 days time for making payment of demand has expired, we shall be filing an appeal under section 107(1) within 3 months so the demand be stayed ? Please advice |