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asset to 100% subsidiary, and the subsidiary sells the asset before 8 years, will the exemption of capital gain be withdrawn?
Answer nowI 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
Answer nowA 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.
Answer nowSir, 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
Answer nowrespected 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
I have filed the income tax return after due date and not get refund due to wrong account no. in itr now how i can change my account no. and get the refund.
Answer nowsir
we have filed income tax return for AY 2009-10 and the same ITR 1 was processed and the refund was determined and sent through cheque , since assessee vacated the house , refund cheque was returned to ITO Chennai . We have approached Income tax office Chennai through various letters there was no updation . kindly help me with a solution.
nil tds return is mandatory in case of transporter.
Answer now
Dear expert,
We are engaged in the business of biotechnology and we have in-house scientific research and development facility approved by the prescribed authority.
Can we claim expenditure incurred for research and development of intangible asset arising from internal projects?
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