if a non-resident Indian residing in America transfers money from his own NRO/NRE A/c in India to his own bank A/c in America, whether provisions of TCS will be applicable?

read more

In one of the Assessment Proceedings for the Assessment Year 2018-19, The Faceless Assessment Unit has considered Income from Intraday Trading in Equity and Income from Trading in Futures & options as Short Term Capital Gain. The Assessee has considered Income from Intraday Trading in Equity as Speculative Business Income and Income from Trading in Futures & options as Normal Business Income which in my opinion is correct. Whether the below noted contention of the Assessment Unit is correct? Contention of the Assessment Unit: “Since the assessee is an Employee of a PSU, the Profit from Intraday trading in Equity and Income from Trading in Futures & options is considered as Short Term Capital Gain and hence the same is calculated accordingly”  

read more

Appeal to ADMN/ Team of Inhouse Lawers/ CAs(: There has been  No UPDATE, till now,  on the STATUS of such claims for REFUND, of excess surcharge auto-calculated and collected by the CPC (SYSTEM),- learnt to have been lodged with CPC ,by aggreived taxpayers in acordance with/following  the REVENUE’s GUIDANCE NOTE released through the ITD Portal ?! None is aware of any good reason for the undue delay in settling the legitimate claims ! Solicit a response ! Request for initiation of proactive steps /effective representation from your side, at least now, to the FM/CBDT , and close follow-up , to the end of a successful outcome !! courtesy

read more

RCM on ocean freight was struck down by Supreme court in Mohit Mineral”s case. However notifcation exempting RCM on Ocean freight was made effective from 1st October 2023. Does this mean that RCM is payable till 30th Sepember 2023 ?

read more

Assessee is Developers and builder . Search action U/sec. 132 has been conducted  and during the search the record of unrecorded transaction for last  10 years was found . assessee has also filed the declaration Under IDS 2016 , can he take the benefit of IDS declaration vis a vis income generated in the years worked out on the basis of data of unrecorded transaction prior to IDS . pl guide

read more

A land is acquired by Municipal corporation for general public utility such as road, garden. Said acquisition is obtained by registered document and registrar inform said transaction under SFT with ready reckoner value. Said document is showing payment in form TDR as consideration.  Subsequently said TDR are sold. My questions are: Whether received TDR is taxable as capital gain in year when land is transferred to corporation. If yes at what value being subsequent sale of TDR is much of lower value than shown consideration in sale deed. Whether provisions of 50C are applicable to allotted TDR. Said TDR are subsequently sold for much lesser value than considered by corporation. Whether subsequent sale of TDR is taxable as short term gain.

read more

My LPA was decided by Punjab and Haryana High court by dependent me on my colleague whose LPA is pending for last 4 years and always getting next date and not decided. My question is can i file in SLP in supreme court until my colleague lpa is decided by court.

read more

if it is faceless how do we do that is the question Sir

read more

can taxes be paid as per form 3 under the Vivad Se Vishwas Scheme after October 31, 2021?

read more

I am in Ahmedabad Gujarat State and Delhi Investigation Department has issued summons under section 131(1A) of the act. Can a Delhi Investigation Department issued summons under the said act?

read more