I am V. M. Kurian

I run a proprietary Business. Fixed Assets include Motor Car Block 3 Cars, WDV Rs. 30,00,000/-. I propose to sell one Car on, 30/11/2022 at Rs. 50,00,000/-, the other two cars are to continue, on 31/01/2023 I propse to buy another car at Rs. 100,00,000. Question -does the motor car block cease to exist on 30/11/22 , am I liable to Capital Gains.

Which ITR form is to be used for filing returns for A.Y. 2022 - 2023 under belated return category under the following situation

1. As assessee who is 50 years old is earning income from doing job typing works from home.

2. His income from job typing is less than Rs.1,00,000/-

3. Other income is from Income from fixed deposits.

Overall his income is less than Rs.2,20,000/= He is filing the return as he is having Pan Card.

As his income from Job typing is less than 1,00,000/= whether it is mandatory or optional to maintain books of account.

Since last assessment year he has not opted Section 44AD. Whether opting for Section 44AD is mandatory in this case.

The assessee is a Company engaged in real estate business. It holds a few apartments purchased as its stock in trade. One such apartment has gone in for redevelopment. The assessee (company and not an individual or HUF) has received an amount as corpus as part of the redevelopment process.

Questions:
1) is the amount received a capital receipt or revenue in nature?
2) can this amount received be adjusted against the cost of the flat (held as stock in trade)
3) from a tax perspective - is this a taxable receipt or tax free receipt?
4) if it is a taxable receipt under which income head should this be reported?
5) can the usual treatment of reducing the cost of acquisition by this amount for computing capital gains (in a typical redevelopment case where assessee is individual and asset is a capital asset) be applied (i.e. reduce cost of stock in trade) even in case where assessee is a company and asset is classified as stock in trade.

Opinions welcome

can a private ltd company gift its own property to its existing director ??
can a hsg society register the director as owner/member of the society ??
effect on the tax angle of such gifted property -- in income tax/gift tax to
both the pvt ltd company and as a individual as director
thanks
pls note gift deed is registered/stamp duty paid

In case of a person earns an income exceeds 15 lakh in india, is the global income earn by him is taxable in india?

Sir/Madam

Let me inform that is deduction u/s 80 C , 80D are available for NRI in the fy 2021-22??

Please provide any sources of section provision.

Thanks

A PARTNERSHIP FIRM REACHED/CROSSED TO A TURNOVER OF 1 CR ON JUNE MONTH, NOW AS PER LAW AUDIT WILL BE APPLICABLE AND TDS ALSO. WE WANTED TO KNOW " FROM WHICH DATE THE TDS LIABILITY TO DEDUCT TDS IS APPLICABLE ON OUR FIRM? " FROM THE STARTING OF THE FINANCIAL YEAR OR FROM THE MONTH ON WHICH WE CROSSED THE TURNOVER.

I have received Consultancy fees for rendering services to Asian Development Bank(ADB).
I want to claim exemption from Income Tax.
So can I claim exemption under United Nations (Privilege and Immunities) Act 1947 as it overrides whole Income Tax Act and the UN Act grants exemption from Income Tax on salary and emoluments received from UN nations.
Headquarter of ADB is in Philippines and it is a member of UN.
So can I claim exemption under UN Act 1947?

I am a sr citizen. and i ve income of interest nearly 25k per year thats only income from Bank deposits.
But now in jan 2022 when I ve been to bank for renewal purposes, I found that rs 5700 was less than the maturity value, for which they explained its tds , for which I promptly submitted 15 H.

When downloaded form 26 as , it showed that only 4800 was deposited as Tds with it department ..

What's my question is....

1.. what about the difference amount of 5700 minus 4800 I.e 1100.. to whom I could ask...

2.. can I get the refund if i file a belated return after 31st Dec 2022 for Ay 21-22... because I came to know that the bank ve deducted when ve gone to bank for renewal purposes only.

After all this money is hard earned and the bankers say that how do they know the difference amount, and they dint give form 16A in good proforma, they gave some form which shows different amounts with no proper data..

How could I proceed even after submitting 15h promptly every year.

HELP ME WITH THIS

Whether rent received from agriculture land is taxable or not ? Deductor has deducted TDS on rent paid.

If not, then is it considered as agriculture income as exempt income under the head other sources?