Sir
I have taxable income below 5 lakh but during the year have earned short term capital gain from sale of shares rs 200000
How to calculate income tax

Dear All,

A widower received family pension of Rs. 360000/- in FY 2021-22 which includes arrears of Rs. 120000/- pertaining to FY 2020-21.

For the purpose of computing relief u/s 89(1), can the assessee claim standard deduction u/s 57 of Rs. 15,000/- while computing the additional tax for AY 2021-22?

If yes, where / how to show the aforesaid deduction in the Table A of Annexure 1 to Form 10E?

Thanks
Niki

Sir;
Assessee deposited cash of old notes during demonetisation period of around 35 lacs. Closing balance of cash on 8 nov 16 Say Rs. 24 lacs. Assessee is engaged in the business of liquor sales. AO adds Rs. 11 lacs under section 68 as unexplained income & charged tax us 115BBE @60% Plus surcharge @ 25%. However this 11 lacs assessee has showns as business income. Since assessee is a liquor dealer he cannot accept cash during demonetisation period. Is there any other way to defend ???

A partnership firm with five partners having equal profit sharing ratio, of which one partner is a Private Limited Company and two directors of the company are also partners of the firm which owns immovable properties some of which are stock-in-trade and some are held as capital assets is going to be dissolved as four  individual partners are retiring from the firm, and they will get the capital balance in the firm from firm on retirement and all the assets and outside liabilities shall remain with the only continuing partner i.e. the company.




My queries are as follows:

Whether  there will be any tax liability upon the retiring partners, erstwhile firm or the sole proprietor i.e. the company ?
How will the company get legal title of the immovable properties ?
What accounting entries will be passed in the books of account of the company ?

Individual bought land for 10 lakhs during 2005. Individual rented the land to a Private limited company in which that individual is a Director and the private limited company constructed building for Rs 25 lakhs during 2016 in the land and claimed depreciation for the building. Individual sold the land with building for Rs. 100 lakhs during 2021. Kindly clarify the long term capital gains.

Kindly Share the Salary TDS calculation Format in Excel for FY 2022-23 with all Applicable Sections.

Error "Date of notice mentioned in the return mentioned does not match with the date as per notice." but we have correct notice date mentioned in return.

Sir; we applied for 80G deduction on 31 dec 20 by filing form 10G. On portal certificate is available in download option but unable to downlaod it. When i click download buttoon it shows message
" Access Denied! You do not have access to page"
How to download the certificate ???

Hi all, one of my client has business asset of Building as Fixed asset in books of accounts. and he is now wanted to renting to the other person by taking interest free loan from the tenant. and no rent is charging from him and interest will not be paid on loan.

So what is the treatment of such interest free loan against rent receivable in the books of accounts and as per income tax act.

Dear sir;
we get a notice us 148 for AY 15-16 to file return but in eproceeding tab there is no option to file return in response to notice but only give option to attach documents & explaination.
How to file return us 148 in such a case ???