Easy Office


PARAS CHHAJEDpro badge online

A firm converted its capital asset being land which was acquired in the F.Y. 2015-16 for Rs.47 lacs into stock in trade on 01.04.2021 at the Stamp Duty Value being Rs.205 lacs. Later, a layout plan was approved, development was completed in FY 2023-24 and the land was diverted and sold as developed plots. Around 40 percent of plots were sold during the FY 2023-24.
Till the FY 2021-22 the accrued capital gain shall be taxed as Long-Term Capital Gain but shall be taxable in the FY 2023-24 with indexation upto FY 2021-22 only, on the plots sold during this year. How such income/transaction shall be filled up in ITR 5. Please guide. Thanks


kollipara sundaraiah

Sir,
A person new started forex olymp trade investment some amount and some transactions trading
Question:
Assessess itr returns filed compulsory or not.


Rajesh Lohiya

Hello Team,
I got an offer from JAPAN company. Where i suppose to work from India with intermittent visits to JAPAN for 2-3 weeks.
I would need your assisnace on tax part. My queries are as follows

1) Where should i ask them to deposite my salary
a) Indian Bank Account
b) International bank Account
c) JAPAN bank Account
2) If salary is created in Indian Bank Acc
a) Do i need to pay tax in JAPAN?
b) Do i need to pay tax in india?
c) Both?
d) do i need to pay GST in india?
3) If salary is created in International bank Account/ JAPAN bank account
a) Do i need to pay tax in JAPAN?
b) Do i need to pay tax in india?
c) Both?
d) do i need to pay GST in india?


CHANDRA V S online
17 April 2024 at 12:33

PF account-NRI

Hi All,
i have query regarding the PF, Assessee is in USA and had account of PF and wants to continue by paying some amount into PF account and she doesn't have any income whether she needs to file the return or in USA she as to show the amount in invested in PF account.


hitro Patel
17 April 2024 at 12:16

Application of finance act

Hi,

Wanted to understand which Finance Act will be applicable for AY 23-24 i.e which finance act is applicable to determine tax rates and surcharge rates applicable for AY 23-24? Whether it will be Finance Act 2022 or Finance Act 2023? Please let me know. Thanks


Krishna
17 April 2024 at 11:27

Income tax assessment us 147

Good morning all. One of our clients income tax assessment u/s 147 proceeding limitation date expired on 31st March 2024 , however the order not yet passed. Cases still showing under 'e proceedings ' 'for your Action' tab. What to do now ?


kollipara sundaraiah

Sir,
A Doctor clinic maintained new residential house construction f.y.23-24 value rs:2 cores above completed.
Question:
New residential construction house value certification by(engineer) income tax valuer compulsory or not.


satish khandve

we have our ancestral agricultural land in pune city but this land gone under garden reservation. Pune municipal corporation has given DRC to us. we are planning to sale this DRC in open Market.
we have cultivated rice and other crops on this land till the DRC received.
Questions :-
1.is this sale transaction liable to pay tax under CG?
2.will it exempted under compulsory acquisition
3.If it is taxable then can we get deduction us 54B after purchased another agricultural land ?
Sir/madam Kindly explain with supreme court decisions or high court decisions.


AMMU KUMARA SARMA
16 April 2024 at 16:31

TDS ON PAYMENT TO ADVOCATES

one of our advocate has submitted a single bill in the following pattern

Written objection/Affidavit Rs.25000
Effective Appearance Rs.48400
Clerkage @10% Rs.2500
total Rs.75900

and
Misc exp. for scanning, courier etc. Rs.1850

it is requested to advice which amount we have to consider for TDS u/s 194J whether Rs.75900 or Rs.75900 + 1850

regards,


Balaji H P

Namaste,
We represent an educational and charitable trust duly registered under sections 80G and 12A of the relevant statutes. Recently, an individual extended to us an unsecured loan, characterized by its interest-free nature and with a repayment timeline of 24 months. I seek clarification regarding the permissibility of issuing an 80G receipt to the lender in acknowledgment of the loan extended.