dear Expert , In one of my case AO has made addition in Interest receivable @ rate of 9% as difference in market rate from own family members quoting interest charge is lower rate from interest in Market rate without invoking any provision of Incometax Act, simply made addition of 9%. whereas about 3-4 percent interest paying on the loan take from his own family members. Pl suggest me without invoking any provision of section 28 or 56 can he does that on estimate basis

Hello Team,
If agreement value is of 19364480 and there are 2 buyers(66% & 34% ratio) and 1 seller.
So what should be the values in below 3 fields in each form 26qb?

If i give below values in each form 26qb ,it is giving me error "Warning : Please enter proportionate share of Stamp Duty Value." Also the 1% TDS Amount is not coming automatically for me, so i do need to manually enter and move ahead?

Total Value of Consideration (Property Value) * 12815960
Amount paid/credited currently (B) * 12815960
Total stamp duty value of the property (C) * 12815960

Total Value of Consideration (Property Value) * 6548520
Amount paid/credited currently (B) * 6548520
Total stamp duty value of the property (C) * 6548520

Which is the correct values? Can anyone please guide?

As per section 54, one can sell old property either two years before or one year after purchase of a new residential house for the tax benefit. But for construction of the same new residential house, it mentions only of sell of old property three years prior to construction of new house? Do I have one year time after construction of the new house to sell the old property like in the case of purchase of the house? If not, why such step-motherly treatment in case of construction of house? It is common sense that one must build the new house before he can dispose of the old one. As per the funding, one can take home loan and then pre-pay the loan from the proceeds of the sale of old property, thus utilizing the sale towards newly constructed house only. Is Income tax department to stringent on the wording of the missing clause (not allowing reasonable time after construction of properly for selling) in the section 54 which just seems like stupid omission by the law makers?

Proprietor firm mein wife ko salary dikha sakte hain ?

Sir,

Bank manager transfer money from My CC account to current A/c without my knowledge.
Is it right, do bank manager has the power to do that.
Please advise.

An amount was received for accidental death from an Insurance company and such company deducted TDS under section 194A. So, my query is can I take exemption or deduction in respect of that tax amount deducted and if so, under which section of the income tax act can I claim?

My Income from Interest on FDR Rs. 5 Lakhs approx and Income Rs. 200000 capital Gain and 30000 annual from accounts work for fling of GST of GST Return etc please advise the amount of Rs 30000 may be shown in Salary Head in Income tax Return and file return in ITR-2 Dharam Pal Mob. No. 9810600330

Dear All
Can we settle or treat 'unrecovered old advance from employees' as a normal revenue expenses ?
Income tax act will allow this type of expenses for tax computation or not ?

Regards

S Mallick

Sir,
My Income from Interest on FDR Rs. 5 Laks approx. and Income Rs. 200000/- capital Gain and Rs.30000/- annual from accounts work for flling of GST of GST Return etc. please advise the amount of Rs.30000/- may be shown in Salary Head in Income tax Return and file return in ITR-2?
Thanks
Dharam Pal
Mob. No. 9810600330

Dear Sir,

Can a new members who has complied all the provision of the purchase of flat eligible to be appointed as treasurer. Few people opinion that a person can't be appointment to any position till 2 years from the date of Enrollment. They mention that section 27 MCS is the provision governing this.

Regards,
Murari Bharuka