What are the Income Tax Implications if the plot of land is owned by the Husband and commercial building/shop is constructed by his wife from her own funds? The Land is situated in Karnataka.
Property Registration Queries
A) Is the separate registration required for the building (under The Karnataka Registration Act, 1961), the purpose of the building is commercial shop and to fetch rental income?
B) What type of documentation is required to have legal and separate ownership of Land and Building of commercial property?

Dear Sir,

If a person has received an amount more than Rs. 15 lacs in cash from his neice and that cash is deposited into bank then what will be the taxability in such case while filing income tax return.

Please help me in this matter.

Thanks,
Divyesh Jain

Dear Experts,

In case of HUF , turnover = 30L approx and net loss around 2L. Will tax audit be applicable for FY 23-24?

Regards,

Mr A's Return has been defective for not verifying return within 30 days. Whether there is any option of withdraw the same return and file new return ?

or any other procedure to make such return valid ?

Dear Experts,
1 A company is remitting the payment to the private insurance company towards the policy premium for its vehicles.
2 Pls explain the TDS implications on this payment?

I had invested X amount in MLD in August 22, the maturity of the same was November 23. Total Period of holding 15 Months approx. Now on maturity the proceeds are credited to my bank account.

I want to know, how the gain will be taxed. Will it be taxed @ 10% as the same is purchased before 31st March 23. or at some other rate.

Dear Sirs - please let me know - (1) Is TDS is deductible on interest part , if loan is taken from financial institutions and paid on EMI basis for car, term loan for machinery.... (2) Similarly Is TDS is deductible on interest part , if loan is taken from *Government / Private Banks* and paid on EMI basis for car, term loan for machinery... Kind Regards

What is accounting group of income tax paid on demand or GST.

Dear Sir / Madam,

Kindly advise on depreciation rate on Soun box machine connected with QR code.

Can we treated it as Computer and apply 40% Rate?

An Individual having Income form all heads of income other than from Business and Profession does he require to file Balance Sheet and Profit and Loss account. for all the investments and incomes