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| 50C – sale of land reserved for public garden by municipal authorities | |
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| Excerpt of query: | – whether sale of agricultural land which is within the municipal limits reserved for public garden and sold below stamp duty ready reckoner price can be subjected to 50C . If not please give relevant case laws on the subject. I would be grateful for your guidance. |
| 56[2]x | |
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| Excerpt of query: | Does it need written agreement for claiming stamp duty of earlier ? Is letter of allotment enough ? |
| SEc. 45(4) and 9 B | |
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| Excerpt of query: | Assessee is partnership Firm enganged in the business of construction having 5 partners . Two of the five partners retired from the firm as per deed of retirement executed on 1.04.2017. It was agreed that one partner will get cash and other partner will get 1/5 portion of land from firm by 31.03.2023. accordingly they got the respective commitment as per retirement deed executed on 1.04.2017 in 31.03.2023. 1.what are implication of the above in the hands of firm as well as partners 2. whether it will make a difference if the said land is held as capital asset or stock in trade. pl guide |
| sales vs 68 | |
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| Excerpt of query: | 1] whether advance against sales can be treated as cash credit u/s 68 ? 2] whether sales amt itself can be treated as cash credit u/s 68 ? 3]whether sundry creditor can be treated as as cash credit u/s 68 ? 4] whether deposits fro dealers can be treated as as cash credit u/s 68 ? case law ? |
| agricultural land | |
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| Excerpt of query: | 1] Is it necessary to have agri income to claim exemption from capital gain tax on sale of Agri land ? 2] Can it be contended that it was for self consumption? 3] IS book keeping and record keeping needed ? case laws / sections ? |
| Goodwill | |
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| Excerpt of query: | pls analyse this order |
| RSU – Salary (Perq.) and Capital Gains (Loss) | |
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| Excerpt of query: | Taxation of RSU (Sweat Equity) in the holding company granted ‘free of cost’ to employee of its Indian subsidiary – Two stages / heads , – Salary – Perq. On Vesting, And; ‘Capital Gains ‘ On Sale of vested shares – In case , because of Recession ,the FMV taken for reckoning Perq. . Is less than the Price/FMV on Sale QUERY (Tax Planning) : How best to make good for the resulting Tax Loss ? |
| 56[2] vs partial partition HUF | |
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| Excerpt of query: | giving of gifts by huf to relatives amounts to partial partition ? does it need order u/s 171 ? |
| section 55 | |
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| Excerpt of query: | How does amendment proposed to section 55 in Finance Bill 2023, affect Redevelopment of property by a Society/ Landlord/members individually ? |
| Sucession of business to Legal heir and GST | |
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| Excerpt of query: | Assessee was carrying business’s of readymade garments as proprietor for many years. On 27th March 2022, assessee expired. As on the date of his death and as on 31.03.2022, there was closing stock of goods of Worth Rs. 700000 and unutilised input credit available of Rs. 58000/- . He was survived by his widow and minor child one Son and one daughter. As per the advice of tax consultant, wife has obtained the fresh registration under GST and continued the business. GST number of old proprietor is still not cancelled and no sale of cl stock is made. Issues: 1. How closing stock of Goods of proprietary concern of late husband can be transfer to proprietary concern of widow , who has continued the said business by obtaining fresh registration under GST. 2. Whether there is any GST liability for transfer of closing stock. Entire stock is out of purchases effected from GST registered suppliers . 3. . How unutised GST input credit of late husband proprietary can be used in the hands of new proprietary concern of widow 4. Any penalty under GST Act in this situation. |