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.
| Taxability of One time maintainace deposit collected by Developer | |
|---|---|
| Excerpt of query: | Assessee is promoter and Builder. During the course of carrying of business, assessee accepted one time deposit from flat purchaser for future maintainance of the building. AO is the opinion that it is taxable in the year of receipt , where as assessee is saying that it is not taxable in his hands as assessee is only custodian and after deduction of expenses incurred for maintenance, will be handover the balance to society . Whether assessee’s stand is correct ? Or AO is correct ? Pl guide . |
| LLP/firms | |
|---|---|
| Excerpt of query: | Can LLP /firm etc hold agricultural land ? How? |
| Deduction under section 80U | |
|---|---|
| Excerpt of query: | Mr. X is a senior Citizen. Due to BRAIN STROKE her right side is totally paralysed . She can not sit with out help. Sir , Under which section she can get deductios and what papers/documents are required. |
| Capital Gain Tax set off | |
|---|---|
| Excerpt of query: | If i have a capital gain from equity mutual fund of rs. 400000 after deducting rs. 100000, my gain tax will be 40000 rs. If it is to be set off against long term capital loss, i have to saw loss of only 40000 or 400000 rs? |
| WhatsApp chat | |
|---|---|
| Excerpt of query: | Is it admissible as evidence under Tax laws ? |
| I am holding rural agricultural land since before 2001. Now I have converted such land as NA land and sold it. My question was which value I should consider for 2001 ? Agriculture land value or NA land Value ? | |
|---|---|
| Excerpt of query: | I am holding rural agricultural land since before 2001. Now I have converted such land as NA land in December 2022 and sold it in March-2023. In which amount I have to pay tax ? If I am allowed indexed cost then My question was which value I should consider for 2001 ? Agriculture land value or NA land Value ? Circle Value of land as on 01-04-2021 is 200 Rs for Agricultural land and Rs. 1000 for Non Agricultural Land. Circle rate of NA Land as on Dec-2022 is 3550 and I have sold it at Rs. 3700 in March-2023. |
| ESOP vs TPO | |
|---|---|
| Excerpt of query: | In case the overseas company issues stock options to the employees of the subsidiary and there is no recharge arrangement. Is the Indian company still liable to include the ESOP costs in the cost base (for cost plus method or TNMM with net margin based on cost) in case it renders services to its other AE |
| Legal, will | |
|---|---|
| Excerpt of query: | Dear Sir /Madam , pl advise on below note: Elder son looking after the family for 20 years and in this duration he buy the property in the name of Mother .Now 78 years old mother willed the property in the name of Younger brother is there any hope the edler son claim his right |
| PMLA vs CA/CS/CMA | |
|---|---|
| Excerpt of query: | What are the specific instances where they can be covered ? |
| Sec. 148, Reassessment , amalgamation , search | |
|---|---|
| Excerpt of query: | A Search and Seizure action was carried out on the residence of Mr. X and his Group Company premises. In pursuance of the said search, the Dept has issued notices u/s 148 for A.Y. 2013-14 onwards to various entities. In light of the same, Certain Notices are issued in the name of Y and Co Private Limited’ which had merged with Z and Co Limited; Writ Petitions against the same are filed in light of Maruti Sukuzi (SC) and Alok Knit Exports Pvt Ltd (Bom HC). M/s. T Private Limited is also been issued with a similar notice which is also converted to M/S. U LLP; Writ Petition is to be filed for the same. The issue at hand is: Whether Notices for A.Y. 2013-14 to A.Y. 2016-17 can be challenged on grounds of First Proviso to Section 149 r.w.s. Section 153A, considering the fact that the department has merely issued a one-pager notice without establishing the fact that income escaping assessment is 50 Lakhs or more. Whether a Notice u/s 148 should be issued in the name of Resultant LLP or the Convertee Pvt Ltd Company for the year in which the conversion took place? Pl guide . |