The director of our co. has 1 HUF and 1 Charitable trust. While filing return of HUF it applied for deduction u/s 80G for the donation made to its charitable trust.
But the department has disallowed it any specific reason for disallowing the same...
please reply urgently.

What is the Tax implication of Buy back of shares on the company as well as on the shareholders. please elaborate.

thanks in anticipation

sir plz guide me..

2 brothers and 3 friend (total five) purchase a land jointly without defining their individual share in registry papers.(but on IT return they have defined there individual share)


now after two years if they sell the land defining their share and all 5 receives their share amt in cheque from purchased.. (5 cheque)..

i consider the owner as co-owner
but AO is of view dat its an AOP and will be taxed flat at max.rate of 30%
is there any justification to AO remark.

I am asking an query by an example.

If company A gives loan to company B which is also shareholder of company A (voting power is more than 10%). And another shareholder of company A is also shareholder of company B (voting power is more than 10%). Then on whom tax liability of deemed dividend generates ? whether it is only on company B or also on another shareholder ?

Can we claim stamp duty and registration charges paid for transfer of plot and other investment?explain all conditons for availing benefits of stamp duty paid.

My client's TDS was deducted u/s 194A. His income was below exemption limits. Before filing of Return of Income and claim of refund of TDS, my client is died. Now, Is it possible to file Return of Income?? If yes then Who can sign the Return of Income?? If no then How to get refund of TDS???? Please Help....

Can Charitable trust give the bonus(in cash < Rs.20000) to its employee?

Dear Sir,
In May,2012 I sold a residential flat in Rs 26,000,00/- and another ancestral very old house at Rs 17,00,000/- in Oct 2012.In August,2012 I purchased an undercontruction flat at noida from a reseller(a person who had earlier booked the same flat under construction linked plan and had paid Rs 15.82 lacs to the builder.
I made payments of Rs 15.82 lac plus Rs 7 lac(premium) through cheque to the reseller then through a tripartite arrangement the new flat was transferred in my name by the builder.Thereafter, till date I have paid Rs 514,000/- to the builder. NOW MY QUESTION IS

1)WILL I GET EXEMPTION IN RESPECT OF CAPITAL GAINS ARISING FROM THE SALE OF BOTH THE RESIDENTIAL PROPERTIES OR ONLY ONE OF THEM,

2) WILL THE PAYMENTS MADE TO THE RESELLER (IE., 15.82 LAC) PLUS THE PREMIUM AMOUNT OF RS 7 LAC BE EXEMPTED ALONG WITH RS 514,000/- PAID BY ME TO THE BUILDER AFTER TRANSFER OF NEW PROPERTY IN MY NAME.

THANKS1

kindly guide me reg: TDS on contract,
what is the tds limitation for contract business,

Example:

my collegue made a contract for poultry business, his annual turnover is 11 lakhs, that company collect 2% in last month but collect 10% of TDS from this month on wards why? & he not run no other business, in what way he will return back the TDS amount.

1/2/2011 house(A) sold and LTCG Rs.200,000. On 3/2/2011 house(Z) purchased for Rs.12,00,000 and claimed exemption u/s 54 of Rs.200,000. Again on 1/9/2011 another house(B) sold and LTCG recorded Rs.500,000. So the question is whether assessee claim the exemption u/s 54 for house(Z) [As the said house is purchased within 1 year before the date of transfer of original asset].