Business is carried on in a building taken on lease and the assessee has made capital expenditure towards renovation of building. Can the assessee (lessee) claim depreciation on building as well as capital expenditure under the provision of section 32(1)?

my friend had many transactions in his bank account in the last past months and now he wants to deposit rs2.5 lakhs in his account .So ,if he deposits income tax department will report him ?

I am a general physician practicing for almost 20 years. I have never filed the returns except last year with 5 lac as income. Can I now deposit 50 lacs now and file return accordingly for the current year. What questions may come and how to manage them

Sir,
I wish to clarify some doubt
i.e.
1.If an Individual have Rs.1 Crore Cash will attract Wealth Tax(Earned from Agri Activities)?
2.Whether anybody can give the loan with interest to others out of the tax sufferred Income?
ex:Mr.Ram earned Rs.60 Lakh as salary & paid the Tax in A Y 2012-13.Now the same has been given to somebodies as Loan for 10% Interest.Whether is it legally allowed or Illegal Business?
3.Is there any Limit to claim exemption under Agri Acivities?
Ex: If Mr.Rahul have 200 Acres & got Rs.10 Crore as Agri Income P.a.Is it 100% Exempt? or is there any Limit ?
4.Is it mandatory to reinvest to avoid Capital Gain if the sale Proceeds from Agri Land or any Land situated in Rural Areas?

whether ca can file income tax return for free

If a holding co transfers a capital asset to 100% subsidiary, and the subsidiary sells the asset before 8 years, will the exemption of capital gain be withdrawn?

I have filed my IT return for the AY 2016-17 in july. The status showing in the site is Refund determined and send out to banker on 25/08/2016. but my bank account not credited till date. What should i do? Thanks in advance

A partnership firm/sole proprietor firm is providing labour services to a company, his team consists of 15 workers. He is not providing any raw material alongwith. what are the compliances it should follow with regard to taxation.

Sir, what is the difference between Section 8 company and Trust. If both are Non profit motive , why section 8 companies are incorporating and paying tax @ 30%. instead of this it is better to open a Trust & spend the amount for the charitable purpose and claim exemption under sec.11/12? Thanks in Advance

respected sir,

whether , cash flow statement forms part of books of accounts (as per sec 44aa ) or not .please discuss.
the AO s are aking to produce cash flow statement at time of scrutiny in respect of cash deposits made in bank account.. in my opinion if once get immunity from sec 44aa (if we declared income under sec 44ad ), we need not to maitain cash flow statement also.
please discuss
giri advocte &tax consultant