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| Tapping of phone records | |
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| Excerpt of query: | Sir, Does the income tax authorities have a right to listen to the phone conversations? If so, under which provision can they do so? Please clarify. |
| Amended Law /TWIN (Old and New) TABLES for COST INFLATION INDEX | |
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| Excerpt of query: | Land purchased in 1990, for Rs 1,00,000, has been sold in FYE 31-03-2022 (AY 2023-24) for Rs 25,00,000. As per valuation report obtained from an Authorized Valuer, the FMV as on 1-4-2001 is Rs 7,00,000. In the New Form 2 for AY 2023-24, under the Schedule for Computation of “Long Term Capital Gains’’, in two of the relevant columns, taxpayer is required to fill-in, – “Cost of Acquisition” and “Cost of Acquisition with Indexation”. Expert is requested to kindly advise as to how to fill-in the mentioned two columns having regard to the stated facts? |
| payments to tenants | |
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| Excerpt of query: | landlord pays sums to vacate tenants and then sells building outright. Can he claim these as costs while computing LTCG ? |
| 54F.Capital gains- Investment in a residential house – | |
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| Excerpt of query: | gift of 2nd home to a relative is allowed ? before selling a plot in open mkt with LTCG u/s 54F on plot sale ? |
| legal heir | |
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| Excerpt of query: | when a Mohamadan male dies without any heir, what shall happen to estate and litigations pending both ? |
| LLP | |
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| Excerpt of query: | Can a Pvt ltd Company give loan to LLP in which partners are relative of director and share holders of the company ? With reference to section 185(2) of companies act and 2 (22)(e) of income tax act – deemed dividend |
| What’s up chat and income element | |
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| Excerpt of query: | Assessee is an individual and engages in business of construction. During the course of search conducted in 2023 what’s up chat with one of the employee was found n seized. The noting in the chart were receipts on account of extra work and unrecorded expenditure . Whether entire receipts will be taxed or Income element will be tax? |
| denial of benefit of exemption u/s 80G | |
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| Excerpt of query: | Respected sir, A charitable trust started in 1955 enjoying exemptions u/s 12A as well as 80G was allowed to the donation made to it. It was granted registration u/s 12AB . However, 80G exemption was provisionally allowed for A.Y 2021-22 to 2023-24 . It failed to renew it before 30th Sept 2022 . It filed form 10AB in October 22 for renewal of 80G benefit. However, the dept rejected the application on the ground of limitation period of 6 months. kindly advice the future course of action. |
| service of copy of paper book to D/R | |
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| Excerpt of query: | Whether the paper book to be filed before the ITAT as well as the copy of the same whichis to be served upon the Income tax Departmental Representative be dispatched by speed post (registered post). Kindly advice |
| Financial recovery from corrupt judge in fraudulent judgment in financial fraud case, criminal proceeding in Prevention of Corruption Act | |
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| Excerpt of query: | Respected Sir, I have filed FIR in financial fraud in Dec 2018. Police arrested the national level fraudster and filed chargesheet under IPC 420,406,419,472. Later during criminal proceeding, trial court added IPC 465, 467, 471. Finally in judgment, judge intentionally maliciously fraudulently removed lifetime imprisonment IPC charges 467 and 472 and convicted that national level fraudster for only 2 years and 9 months for which he was already in jail and let him immediately free and now he is absconded. No recovery has been done from that national level fraudster. The corrupt judge is retiring on 30 Jun 2023, only one month later. I have submitted complaint against corrupt judge consisting of 150 pages along with complete documents and evidences to High Court Vigilance Section on 27 Feb 2023 under various sections of Prevention of Corruption Act along with complete recovery of amount involved from corrupt judge. My query is that whether complete involved amount can be recovered from corrupt judge along with criminal proceedings under Prevention of Corruption Act against corrupt judge ? |