Dear all, I am sold my house for RS.20lakhs and my brother have one house it is old. we decided to demolish my brother house and construct new one.my question is that 20lakhs can be able to claim as exception in capital gain?

There is a charitable cum religious Society registered under societies Act 1860, (say A). It has paid advance for purchase of land for a charitable project. Now the project cost is going out of budget to Society (A). There is another Charitable cum religious trust (B) approached to Society (A) to take over the project. Trust (B) will buy the same land for which Society (A) has paid advance. Both the trusts and the Society are registered under 12A. Now, Society (A), is willing to forego the advance money as donation to trust (B).
What will be the implications from Tax point of view and the societies Act 1860.

Dear xpert please tell me when TDs applicable on individual salary Thanks

A proprietor concern having turnover of around Rs. 61.00 Lacs in F.Y. 2015-16 with NP below 8%. Should it gets his accounts audited & deduct TDS u/s 94A, 92B, 94C, 94-J etc. or applicable only on 92B. Please clear the same.

Regards,

Rakesh Sharma

Dear Experts,
We are proprietorship firm and assessment
For FY 2014-15 has been done also the
Intimation u/s 143(1) has been received
please tell me how long i will have to
keep the account safely of FY 2014-15,
Till 5 year or forever,

Regard
Anil mishra

Hello Sir,
I have taken a home loan of 30 lakh from Hdfc bank in April 2016.
The property is under construction and the possession will be given by the builder in March 2017.
The first disbursement of Rs. 1820625 was dome to the builder in April and I have started paying the EMI of Rs. 19012.
The disbursements of balance loan amount will be done quaterly starting from July 2017.

Currently I am staying in rent of Rs. 8000 per month.

Can I declare both, the rent and home loan EMI interest in the investment declaration for FY 2016-17 and take the tax benefit?
Or is it that I can only claim the home loan benefit after getting the possession?
Please advice as I have already started paying home loan EMIs.
Our finance is saying that I can take the home loan benefit after taking the possession only.

Whether income from temporary Professional Job Contract is to be treated as Income from Other Sources specially when the assesse has separate Salary Income!

Dear All,
Proprietor has spends expenses like restaurants, CCD etc(for self and some times for clients) from debit card and volume of transaction also is big approx 20-25 transaction per month. Can it be allowable expenses and can it be charge to profit and loss account and if yes then under which GL head it should be treat or it should charged to Capital Account.

Dear Sir,
An Assesse had Income Tax Demand for A.Y. 2003-04 for mismatch of TDS deducted from
bank's fixed deposit in Form 16A and with IT Deptt. Now in A.Y. 2015-16 he had a refund for a certain sum of money which has been adjusted by the IT Deptt against the outstanding demand for A.Y. 2003-04. The Assesse has approached the ITO of the respective ward because in A.Y. 2003-04 it was a manual filing and the demand raised by the ITO, but the ITO told him that as the Return for A.Y. 2015-16 has been file electronically so the Assesse has to make rectification online for the demand adjusted. My
question to you is how is it possible as their in no mistake in the Return filed for A.Y. 2015-16. Please help me to sort out of the matter. I would be very thankful to you if you suggest me what to do now as TDS deducted for A.Y. 2003-04 was fully reflected in Form 16A given by bank but the IT Deptt says their is a mismatch of TDS in their site.

Thanks,
Abhishek Roy Choudhury.

can we provide for deffered tax asset for the year in which the assessee has incurred a loss from business...???