Can a Trust transfer assets held by it to another Trust? is there any Capital Gain tax implication on both the trusts?
Hi everyone, would someone can provide ITAT Delhi order in case of Arvind Yadav Vs ITO Ghaziabad . Appeal no 1508/DEL/2017 . Thanks
IS TDS U/S 194Q APPLICABLE ON PURCHASE OF AGRICULTURE PRODUCTS IF EXCEEDS 50L ?
Hello, my father's brother have gifted me his plot of land last year in which he is joint owner with my mother. How the percentage share of property will be considered here. Since the property was bought in year 1996, in cash from the money of agriculture produce and nothing mentioned in the deed about share. So can it be considered as 50:50 or how we can calculate it for LTCG. Please help here..
Husband & Wife jointly purchase under-construction property from a very reputed builder. Payment of this property is to be made in 5 instalments over a period of 5 years (20% each year). The purchase entails buyers to deduct 1 % TDS from the sale value and remit to govt. As per IT rules, TDS on the payments have to be remitted by each of the joint buyers in proportion to their ownership share (50% each). The builder got owners to sign in the purchase agreement that he will file the TDS on their behalf, to help them ostensibly, but actually to get his TDS credit on time without fail ! This is a usual practice followed by big time builders. However, builder deducted full TDS from the 1st named buyer only, when 1st instalment was paid, without consulting them (may be for his convenience). Now while 2nd instalment is being made builder has asked owners to deposit TDS since RBI has started delisting banks from NSDL websites. So now while filing form26qb shall they make the TDS payment in name of 2nd owner only or on basis of their ownership. Plz suggest any other possible solution.
The assessee Have receivhed notice from Department to file the IT return for AY16-17. What process we have to follow to file the return please.
The assessee has only rental income (below 1lakh p.a.) but had sold the property during August 2015.
Now if you login to portal and go to outstanding demand , you can click on the particular item and pay through net banking. Since it is so direct, does it get adjusted against the outstanding demand automatically? Or you have to later respond with challan copy as before? Anyone tried direct payment from portal screen?.
Sir,
Assessess maintained a private hospital including pharmacy two same person treatment one patient Bill raised for hospital value rs:2 lacs and pharmacy store rs:30,000/-
Question:
Amount received from patient for cash mode limit for day
Amount received from patient for UPI mode limit for day.
in one hsg coperative society - tranfer fees to incoming members was charged at particular rates
which is now limted to max 25000/- per flat
income tax has now issued a notice bringing all transfer fees received as normal income .
pls guide whether the same is taxable or exempt as the society was collecting the same for
repairs -which was also spent on repairs
if any case laws are there -- pls guide and forward
PLS GUIDE
THANKS
Dear Sir, Need guidance on selling of property and attraction of capital gain tax. To save on capital gain tax can one purchase second property pre and post selling of the first property? What is the time frame for such transactions? Points to keep in mind while doing such transactions to save on tax.
Thanks
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Transfer of assets held by one trust to another trust