If trust has applied for provisional 12A / 80G which is to be expired in financial year 2023-24 then by the time of 31/03/2024 whether final 12A/80G is to applied or provisional registration is to be made?

DEAR SIR,
WE HAVE PURCHASED A COMMERCIAL PROPERTY BY RS. 2,50,000/- IN OUR PARTNERSHIP FIRM IN THE YEAR OF 2002.
NOW WE PARTNERS ARE GOING TO SELL THIS PROPERTY BY RS 61,00,000/*
SO EXPERTS ,
PLEASE GUIDE ME ABOUT TAXATION IN CAPITAL GAIN ON SALE OF COMMERCIAL TAX.

Sir, have FNO loss of Rs. 2.60 lacs in FY 2023-24 and Short term capital gain on sale of Equity shares of Rs. 4.50 lacs.. Can my FNO loss be set off against above Short term capital gain for Income tax.. If Yes how can i claim, which ITR form to be filled up? Pls inform. Whatsapp 7018721306
KK Sharma

I am running a proprietorship business as Wholesale Trader of readymade garments & registered under MSMED as Mircro and having turnover of around 1.75crores. I purchased readymade garments from manufacturer of readymade garments who are registered under MSMED as Micro/Small Enterprise.
Whether Section 43B(h) is applicable to me and do i need to pay the manufacturer within 15/45 days?

Is TCS applicable on demolition waste of building? Will it considered as scrap for TCS applicability?

In a faceless assessment order, the income of the firm is fixed at 8% of the gross receipts by the faceless assessment unit. But the interest on capital and salary to managing partners not deducted in the order. Tax calculated on the 8% fixed on gross receipts. Can we file an appeal asking for the deduction of the interest on capital and salary to partners . Can the experts throw light on this aspect please...

A father,PSU bank pensioner, receives gift of 500000/- from his son -a govt. emloyee to start a trading business. What is the tax liability of both at the time of receipt and after earning the profit from trading business. Is the son liable for tax in profit ? please guide

If mediclaim policy premium paid by husband.
Can wife take the benefit u/s 80D

Hello Members,

Client purchased a new residential flat. He sold off the shares he had in this private ltd company, apart from his self shares he also sold shares held in HUF.
Query: There is Long Term Capital gain coming from the sale of Shares in HUF, while the proceeds received from this was directly used for the purchase of the flat, Can HUF claim deduction us 54 as flat was purchased out of such proceed which is evident from bank statement also.

Regards
Gaurav

Hi Team,

Sometimes during corporate actions like demerge, bonus, split etc an amount is received for fractional shares. Could you please advise how it is taxed? Is it SHORT TERM CAPITAL GAIN? If yes it is taxed at 15% or as per income tax slab rate?

Kindly let me know if query is not clear.