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| whether one WP can be filed for two assessment years if issue involved is same | |
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| Excerpt of query: | assessee is partnership firm. has received the Notices U/Sec. 148 for A.Y. 2013-14 and 2014-15 after 31.03.2021. Therefore, wishes to challenged the validity of the same . whether assessee has to filed two separate WP or can file One WP mentioning facts for each year separately in the petition. pl guide |
| Partition of HUF and Taxability of amount received by member | |
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| Excerpt of query: | Assessee is an individual. During life time of his wife who was bed return due to bad health, married with another lady. He had children from first wife . The first wife expired after the second marriage. The entire community and other family members have accepted second lady as wife of the individual. The person had a girl child from the second lady. On all records the name of children from first wife , daughter of second child and second wife have stated as members of HUF of the individual. After the death of an individual, the full partition of his HUF has taken place and each member i.e. kids from first wife, daughter from second wife and second wife received some properties movable and immovable. whether assets received by second wife and her daughter are taxable under Income Tax Act . Pl guide |
| Penalty notice u/s 271B | |
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| Excerpt of query: | Dear sir, Penalty notice u/s 271B received on 11.11.2019, what is the time limit for completion of penalty proceeding. |
| Procedure for Withdrawal Appeal filed to Commissioner of Income Tax (Appeals) | |
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| Excerpt of query: | Dear Sir I have filed appeal against the order under section 143(1) of the Income Tax Act 1961 passed by NGP-W-(4)(4) vide DIN No NA on 3/11/2021 for AY 2020-2021 to Commissioner of Income Tax (Appeals)Income Tax Department. This Appeal I have filed in addition to Rectification Request filed in favour of Income Tax Assessing Officer. But Last I have got notice from Commissioner of Income tax(Appeals) stating that I have to submit ground wise written submission , alongwith suporting documentary evidences on or before 24th April 2022, But inbetween on 12th April 2022 I have got order against my rectification request stating therin that taking into consideration your rectification request now there is NIL tax Liability. So for the purose for which I filed appeal to Income Tax (Appeals) has been solved through rectification request so there is no neeed to continue Appeal I have already grant relief through rectification request. I querry is now I want to withdraw Appeal which was file in front of Income Tax(Appeals) KIndly GUIDE ME as regards what procedure now I have to follow to withdraw appeal Regards CA S N Gulkari Mobile 9822875103 eMAIL : cagulkari@gmail.com |
| Issue of demand notice 156 in name of dead person | |
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| Excerpt of query: | During the course of assessment proceedings, the assessee died and the assessment was made on one of the legal heir of the assessee who filed that he may be taken as legal heir in this case. The assessment was made in the name of legal heir but the demand notice issued in the name of dead peron(assessee) What is the validity of such demand |
| Notice u/s 148A | |
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| Excerpt of query: | I am in receipt of a notice u/s 148A of the Act relating to AY 2015-2016. I have not filed the return of income during that year inadvertently because the operations resulted in a huge loss and turn over was 95 lakhs only. Can i file a return of income in response to notice u/s 148A or shall wait for a notice u/s 148 to receive from the department |
| Extension of time limit for issue of notice due to covid | |
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| Excerpt of query: | Was any extension of tome allowed for issue of notice u/s. 142(1) or u/s. 143(2) for the assessment Year 2020-21 due to covid? |
| Stamp duty Value and Claim of Deduction U/Sec. 80IBA | |
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| Excerpt of query: | As per provisions of Sec. 80IBA, the maximum value of the house to be constructed for being eligible for deduction under this section for projects approved after 1.09.2019 shall be restricted to Rs. 45 lakhs as per Stamp duty Rates. Does this means developers can sale the units for any consideration more than 45 lakhs also till the stamp duty valuation is 45 lakhs. ? Whether tolarance limit of 10% as given in Sec. 43CA and 50C is applicable while considering stamp duty rates of the residential units for claiming deduction U/Sec.80IBA ? pl guide . |
| Taxation and Tax Audit of Government entity | |
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| Excerpt of query: | A battalion of reserve police force (RPF) has been allotted a petroleum retail outlet by Hindustan Petroleum Corporation Ltd. for sale of Petrol and Diesel. The battalion office has got its PAN under Government category with 4the character of PAN being ‘G’ and based on that PAN GSTIN has also been allotted. The petrol pump is selling Petrol and Diesel to public, other departments of state and central governments, and it has captive consumption as well. The sale during the FY 2021-22 which is the first year of operation is Rs.11.13 crores. Please advise on followings : 1. Whether Tax Audit will be applicable ? 2. Whether the battalion office would be liable to income tax on the income earned from Petrol Pump operations, if yes, then what would be the rate of income tax? 3. Whether the battalion office being a government office of state government would be required to make TDS u/s 194Q. Please share relevant provisions of income tax act and related judgements. |
| capital gain-goodwill | |
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| Excerpt of query: | the answer by adv. Bahel is not clear. firm with 2 partners, one died. other partner paid goodwill to wife of deceased partner.rs 50 lakhs. whether this 50 lakhs are taxable, if taxable in whos hands in bcaj article it is stated that same is not taxable my view is same as money is not paid to partner this being new amendment various views are possible with different arguments so clear answer is expected |