Hello everyone, My query is regarding Capital gain on sale of building after 36 mths. As per me, if building held as business asset then capital gain will be always short term (Sec50) and if building held as personal asset then long term. Whether my understanding is correct?

Sir i wanted to know is it fesible to opt for the presumtive income scheme u/s 44 ADA for a professional if the income is around 40L.. And if this is opted do i need to pay advance tax this year... TIA

Can we consider Books and periodicals as an fixed assets in case if an individual is an ADVOCATE? Please suggest me, sir

the firm had a turnover of 65 lakshmi and earned profit of Rs.58000. after deducting remuneration and not on capital. if these two added the profit is above 8% of turnover. whether the firm liable for tax audit.

Dear Sir, One of my friend who belongs to naga tribe covered under Schedule tribe, has a business of wholesale of clothes (local made woolen & cotton clothes etc) whose turnover is more than 1cr. He is new in all these and has no idea of taxation, can he has to done tax audit, or as he is exempted from income tax he dont have to donebaudit..... plz advise

My Father wants to transfer immovable property in name of my HUF. This Huf consist of me my wife and my son.

How can he transfer this income earning property.
Please advice. How best can we do through Will or gift.?

I have read these articles https://www.caclubindia.com/articles/gifts-to-and-from-huf-20454.asp
https://www.caclubindia.com/experts/gift-received-by-huf-771110.asp

But it has created more confusion, then giving clarity.

Sir

My query our company turnover 75 lakh f.y 2016-17 any required tan no

for tds on job work bill and rent bill

plz reply fast

if TDS on salay or other section of TDS ( like 194 C , 194J, 194 i) not deducted by employer and service receiver in that case whether receipent of such amount is liable to pay advance tax please reply this question,

I am a stock trader by profession My total turnover of trade was 1 Crore and profit was 8 lakhs for current financial Year my profit was 8% of my turnover Do I need Audit Us 44ab or 44 ad

Dear Experts
Weather 2% Education cess and 1%
SHEC cess is applicable on income tax
I mean for firms/companies it is only 30% or 30.9%

Regds
Mukesh