Dear Sir,
what would be the impact of budget 2016 on the partnership firms ?

Please clarify.

I need to know what is the maximum exemption limit of premium for individual and senior citizen during fy 15-16 and fy 16-17.

There is a big confussion, many people are saying that u can not file return for the A.Y. 2015-16 after 31st march 2016.
It is right or not?
Bcz they said that there is any circular or notice regarding this but I couldn't find anything.
Please clearify as soon as possible.

what is form 15cb for?

gudmrng sir, sir i have a doubt in pgbp. for calculating depreciation in case of conversion of individual into company, in previous 2015-16, wat days wil we take?? 366 days?? because 2016 is a leap year

sir, am I required to make cash payments within 20000 for purchase of goods, to grant exemption under rule 6DD

R/sir, One of my client is selling a plot, which may attract long term capital gain. Selling consideration will be about 18,50,000 and registry is due in may 2016. Buyer is giving 15,00,000 as advance in March 2016. Please let me know whether my client have to show the money received in adv in his itr for ass year 2016-17 or to show and pay ltcg tax in ass year 2017-18 as registry will be done in acc year 2016-17 Please suggest Regards

buyer has made the default in deducting the TDS u/s 194IA for FY 2013-14 however, Seller has paid the tax i.(capital gain) etc
Kindly advice now what buyer should do ??
he cannot now deduct tds (cannot collect the amount of tax from seller) & if buyer will pay from his pocket then there will be double taxation of same transaction...

Note : buyer has received the notice on 4-3-16 for default made u/s 194IA. from IT department having sub of "Calling for info. regarding investment in immovable property" & gave time limit of only 10days to make the default good...

kindly advice what should be done ???

Sir,

I have following incomes in A.Y.13-14.

1.Selling of shares-Long term
2.Commision on which TDS Deducted

So please tell me which ITR Form is applicable to me & how to show capital gain in ITR.

Thnaks..

RELEVANT FACTS OF THE CASE
An Individual got a Plot of Land allotted in his name from HUDA in Haryana in F.Y 1991-92 at the allotment cost of Rs. 175,000/- ,which were duly paid in full via instalments each year till F.Y 1998-99 and got the possession in F.Y 2000-01.
In F.Y 2009-10, Individual transferred the said plot of land via family transfer permission under HUDA and the said plot of land was re-allotted in his wife’s name via conveyance deed registered at transfer value of Rs. 201,000/- and Rs. 6,000/- was paid as registration fees. However, in actual, no consideration was paid for the above transfer and now, wife wants to sell this plot of land in F.Y 2015-16.

QUERY
I would like to know your suggestions on the following below mentioned points:-
a) Whether the above transfer between husband and wife be termed as exempt transfer (gift of immovable property) u/s 56(2)(vii) ?
b) Whether, wife can claim Cost of indexation as per section 49(1) and period of holding as per section 2(42A) of the said plot of land?
c) Whether, clubbing provisions will apply in above case in above case of transfer of land for inadequate consideration ?