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| Receipt of unit on re-development and capital gain | |
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| Excerpt of query: | Assessee is a doctor. He has purchased four residential flats having area of 800 sq. ft each in the year 1986. He started his medical profession in these flats by combining the all 4 flats, with the permission from the local authority for using the same for commercial purpose and paid the municipal taxes as applicable to commercial units from 1992. He has not claimed any depreciation on the same. The housing society in which these flats are situated is under re-development scheme and the developer offered the assessee 4 commercial units having area of 1000 sq ft each in the new premises against the original holding of area 800 sq ft each along with monthly rental of Rs. 25000/- for each flat for 18 months as a compensation. Whether the assessee is liable to pay any capital gain tax as well as income tax on the above transaction. |
| withdrwal of appeal | |
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| Excerpt of query: | How to withdraw a appeal . I have got signed letter from client . How to submit application online ? or do i have to go to department ? any help is highly appreciated . Thanku in advance |
| Withdrawal of appeal filed before CIT(Appeals) | |
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| Excerpt of query: | I had filed a return of income tax u/s 139(1).The AO(CPC) did not allow certain deductionswhich resulted in demand as per the intimaution under section143(1).Thereafter assessee moved an application for rectification u/s 154.The rectification application was rejected.Thereafter assessee filed an appeal before the CIT(Appeals) and also applied for rectification again. Appllication for rectification given second time is accepted by the AO(CPC) and it is in favour of the assessee My Query: Is it possible to withdraw the appeal before the CIT(Appeals) And How to do the process online |
| TDS on dividend income on shares transferred to wife | |
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| Excerpt of query: | I have transferred some shares to my wife. The income from dividends is offered by me u/s 64 for taxation. However I do not get the benefit of TDS made on those dividends. What steps I am required to take to claim the TDS in my return which is shown in her Form 26AS. |
| reasonable mark up | |
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| Excerpt of query: | Post “New Noble Educational Society ‘judgement of SC, what is Reasonable mark up ? Whether section 11 is virtually overridden? Is it at par with now litigation in Transfer pricing ? |
| Agricultural property registered in mothers name by husband out of his own earnings | |
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| Excerpt of query: | Hi Team, 1.Agricultural property registered in mothers name by husband out of his own earnings. Now mother died in 2021 without any will/gift. Now father got transferred the same property into his name without any consent/signature from his 2 children i.e one son and one daughter. 2. Is this agricultural land becomes father’s self occupied properties or both Son and daughter have the equal rights as ancestral property as mother died without any gift deed/will? 3. If father wants to prove that this property is purchased from the money that he as earned and hence it is his own self occupied property then what documents to be produced at the court to prove this? |
| MAT VS ECL UNDER IND AS | |
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| Excerpt of query: | IS ECL required to be added back for MAT purposes if a company is covered by IND AS ? |
| LTCL vs LTCG | |
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| Excerpt of query: | can LTCG on land be set off against LTCL in shares before the date of grandfathering was introduced ? |
| ICDS vs IND AS | |
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| Excerpt of query: | when profit as per IND AS is more than one worked out under ICDS which will affect book profit under MAT ? |
| Maharashtra Project Affected Persons Rehabilitation Act, 1999 | |
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| Excerpt of query: | Is Maharashtra Project Affected Persons liable to capital gains on alternative flat allotted free? |