cash at bank rs. 100000 as on 8 nov 16 and we deposit total rs 240000 in 4 time .in a bank account and my question is that it's possible. and what is the taxable income ...
Answer nowan assessee who inherited a land before 1/4/81 and it was compulsorily acquired by state govt for consruction of bus stand in 1987 for which compensation was received by the assessee in in 1987 and filed return. Upon appeal to high court he got enhanced compensation in financial year 2015-16. I want to know date of transfer for additional compensation& Litigation expenses where to enter in itr 4 ( Assessee also have business income)
Answer nowHi Sir I have filled a Income Tax Return of rs. 500000 and same above previous years. but there is no balance sheet prepared in this case hence how can calculate cash in hand for deposit in bank please tell me about this method
Answer nowhow this section works if a professional does not opt for this scheme and show his profit as 55 % of gross receipts in itr , whether he will be required to get his books audited.
Answer nowi want to give old cash as a gift to my brother after 8th Nov 2016.tell me the legal impact on this transaction.
Answer nowBusiness 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)?
Answer nowmy 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 ?
Answer nowI 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
Answer nowSir,
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
Answer now
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deposit in Bank