Thank You
Thank you for your question. We will forward it to an expert in our panel. The experts opinion will be made available shortly. Please visit the main page after some time to read the answer to your question.
| Cash Purchases U/sec. 40A(3) | |
|---|---|
| Excerpt of query: | Assessee is partnership firm engaged in ginning of cotton. It purchases cotton in cash from agriculturist through the Adatya claimed that it is payment to agriculturist and no disallwance be made u/sec. 40 A(3) of Act. Agriculturist confirm this transcation and accepted that they have received payment in cash. Ao has disallowed U/Sec 40 A(3) on the ground that it is not transcation between agriculturist and not covered by exception provided in Rules. Is action of AO is legally justified |
| SECTION 36(1)(VA) | |
|---|---|
| Excerpt of query: | Is there any remedy for 36(1)(va), if appeal filed before checkmate judgement of supreme court. |
| Deemed Dividend | |
|---|---|
| Excerpt of query: | When lending company has deposited funds in a firm engaged in money lending activities for earning interest and such firm has advanced funds to substantial shareholders of lending company but such substantial shareholders have no control over the firm who has extended funds to substantial shareholders on interest, whether provisions of section 2(22)(e) could be invoked in the case of substantial shareholders even though there is no debit balance in the books of lending company to their account. |
| Vivad Se Vishwas | |
|---|---|
| Excerpt of query: | The assessee has paid tax arrears as determined by the Designated Authority and intimated via Form 3. However, the assessee failed to file Form 4. Till date he has not filed the Form 4. Is there any way to file the form now. Or what will be the consequence of not filing the form |
| BINDING NATURE OF SMC BENCH DECISION | |
|---|---|
| Excerpt of query: | In case of assessee, SMC bench has decided the issue of validity of reassessment relying upon the Division bench decision of another Tribunal . Case of the other family member is before the Division Bench having identical facts . Whether Decision of SMC bench by JM is binding on the division Bench . Pl guide . |
| AY 2024-25 Rate of Surcharge on income-tax | |
|---|---|
| Excerpt of query: | Will you please clarify for AY 2024-25 what is the Rate of Surcharge on income-tax on longterm capital gains of Rs. 130000 and what is the marginal relief ? |
| Is GST applicable on Google Adsense income? | |
|---|---|
| Excerpt of query: | Sir, I am a YouTuber based in Ahmedabad. I have a channel on YouTube where I make videos on various topics. I also have a blog where I write articles. I have monetized the channel and blog with Google Adsense.i expect my annual earning in FY 2023-24 from AdSense to exceed Rs 20 Lakhs. All income is received from Singapore. The income is offered to income-tax under the head “business profits”. I read an article in Tax Guru that as the AdSense income is received from Singapore, it constitutes “export of services” and is not liable for payment of GST. However, I also read another article in ClearTax that if the income exceeds Rs 20 Lakh, registration is required though tax is not payable. I would be grateful if you could kindly clarify the entire GST law on the subject. The problem affects a large number of people who have income from YouTube and blogs. Regards, Dilip Sanghavi |
| Sec. 153C | |
|---|---|
| Excerpt of query: | Assessee is an individual and purchase flat with Builder in FY 2017-18 On the basis of search conducted at Builder on 2018-19 and loose papers found with him as well as his acceptance in settlement Commission about receipt of ON money, assessee has received Notice U/sec 153C . Noting on Loose papers seized is Surname of Assessee and some calculation of amount and interest . It does not have any date or signature or the place. Can assessee raise the objection on issuance of Notice U/sec 153 C on following grounds: 1. It is dumb paper 2. There could be 1000 people similar to surname of assessee. 3. Only assesee has purchase flat with Builder does not mean the noting on seized paper belongs to or pertains to assessee. 4. Presumption can be drawn against assessee on the ground Builder has accepted in settlement Commission about acceptance of on money . Pl guide and legal judicial support on above grounds. |
| Question on section 80IBA | |
|---|---|
| Excerpt of query: | Dear Sir/Madam, we have a question on applicability of section 80IBA. in case if assessee maintains cost center wise books of accounts for all the projects in a single accounting software. will it meet the requirement of separate books of accounts as mentioned in section 80IBA? |
| may I show the total no. of appeal filed by the department | |
|---|---|
| Excerpt of query: | may I show the total no. of appeal filed by the department |