mohamed ali & co
This Query has 1 replies

This Query has 1 replies

CIT Exemption has condoned the delay in filing audit report. What is the procedure to be followed next? Should the trust file a rectification petition u/s 154 . How to inform the cpc about the condonation of delay granted by CIT Exemptions.
I request the experts to kindly give their expert opinion on the procedure to be followed


VIJAYRAJ L JOGANI
This Query has 1 replies

This Query has 1 replies

Respected Sir

As per section 45(3) of the Income Tax Act 1961, When an individual(Partner) transfers a capital assets (Stocks, Mutual fund, Real Estate, etc.) to a Partnership Firm as a capital contribution, it is considered a 'transfer' under capital gain tax provision and chargeable to the tax when such transfer take place. Value recorded in the books of the firms is consider as a full value of consideration.
Our question is on which value firm will recorded such assets (Stocks, MF, Real Estate) on Fair Market Value of the Such assets or cost of acquisition of the individual (Partner).


MONIKA SALHOTRA
This Query has 5 replies

This Query has 5 replies

20 February 2025 at 22:31

Sale of Ancestral property - Capital Gains

Ancestral property will be sold in March 2025 / April 2025. What is the time limit to deposit the sale proceeds in Capital Gain accounts scheme and the time limit to purchase the specified bonds?
Please also inform incase it will make any difference if the land to construct the new property has been purchased in January 2025


Swapnil
This Query has 3 replies

This Query has 3 replies

I am applying for TAN Number of Limited Liability Partnership

Which type of deductor should i select Firm Or Branch of Firm

I am applying for TAN in Delhi State which is our branch & Our Head Office is in Maharashtra

Please guide


archana tanna
This Query has 1 replies

This Query has 1 replies

20 February 2025 at 16:45

TDS and capital gain

When a resident buys property from an NRI what is a tax implication for both buyer and seller ?


manoj sonalkar
This Query has 1 replies

This Query has 1 replies

Sir / Madam

Can any one update TDS applicability on below in view of latest judgements by various authorities -

Lease Line charges
Broad Band Charges
Internet
Mobile
Telephone Charges

Please quote applicable case laws


Suresh S. Tejwani
This Query has 1 replies

This Query has 1 replies

20 February 2025 at 13:45

REGARDING CLAIM OF TDS...

IS COMMISSIONER HAVE POWER TO ISSUE REFUND IF APPEAL FILED AGAINST RECTIFICATION ORDER UNDER SECTION 154 VIDE RETURN REPORCESS OPTION? IF WE FORGOT TO CLAIM TDS FOR LAST YEAR?


Gaurav Raj
This Query has 8 replies

This Query has 8 replies

What will be the rate of TDS under section 192A in case of a person not completed 5 years of Job, withdrawal is more than 50,000 and has his PAN inoperative at the time of TDS?


TV A
This Query has 1 replies

This Query has 1 replies

Which ITR is to be used when I (Individual) have the following incomes:

1. Salary
2. Consultant income (eligible for Presumptive income under section 44ADA)
3. Share of profits from LLP (exempt u/s 10(2A))

Also, what is the due date for filing the return since I have share of profits from LLP. Kindly guide me. Thank you in advance.
For your information: All the above incomes are from the same LLP


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

Sir,
The it tax payer cash loan to relatives rs:15 lacs through on cash mode paid dt:10-1-25
After another date:10-2-25
Cash loan from relatives rs:15 lacs amount repayment through on bank channel mode received
Question:
Assessess above transaction violation of cash rules penalty imposed in it act.






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