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Can the property in the name of individual partners be used by the partnership firm? whether any lease deed between the partners and the firm is required in such as case? what might be the tax implications in this regard?
Thanks in Advance
This Query has 1 replies
Foreign Collaborators held shares of Indian Private Limited Company. having 40% stake. Suppose, the group company purchased / acquired these shares. What will be tax implications from seller (Collaborators) and Purchasing company point of view. Kindly advise us with necessary sections under India income tax law.
This Query has 1 replies
FEES PAID TO FOREIGN CONSULTANT FOR RENDERING SERVICES ON PROJECT WHICH IS SITUATED OUTSIDE INDIA .
INCOME FROM THE PROJECT WOULD BE GENERATED OUTSIDE INDIA
THE FOREIGN CONSULTANT IN NON RESIDENT IN INDIA
HE IS A FOREIGN CITIZEN
AS PER SECTION 9 (vii)
(vii) income by way of fees for technical services payable by—
(a) the Government ; or
(b) a person who is a resident, except where the fees are payable in respect of services utilised in a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India ; or
(c) a person who is a non-resident, where the fees are payable in respect of services utilised in a business or profession carried on by such person in India or for the purposes of making or earning any income from any source in India :
CAN THIS CASE BE COVERED UNDER CLAUSE B
ALSO IF IT IS NOT DEEMED TO ACRUE OR ARISE IN INDIA THEN NOT TAXABLE
THEN FURTHER DO WE NEED TO LOOK INTO DTAA
ALSO IF NOT TAXABLE AS PER INCOME TAX WE CAN CLAIM THE RATE OF TDS AS ZERO AND ISSUE FORM NO 15CB
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Assessee sold house proprty for year 2022-2023 for Rs.80,00,000/-. Land purchased on 2003 for Rs.4,00,000 and construciton made for Rs.40,00,000 duirng the year 2021-2022. Whether byfirgation should be made for lonterm capitalgains held on land cost and shorterm capital gains to be calculated on cost of construciton, which was held in 2021-2022. How to calculate
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My client has around 2.5-3 cr in Bank account. And want to invest (FD).
Please guide me, how can I make him plan his taxes. He has wife and childern(1-18+,2 below 18).
Is there any way I can transfer money to her wife (as loan) and invest in her name
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With the prior approval of my employer (a govt company), i made payment of Rs 2.50 lakh to a bus operator during my tour. The bus operator had issued bill in my name, as per the practive prevalent in my company. Now, my employer is asking me to recover 1% TDS from the bus operator. Considering the bill was not in my employer's name, is the employer liable to deposit TDS for this bill? Is it proper on my employer's part to ask me for TDS recovery? Please elaborate.
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Incase of loss in fno and intraday whether it is compulsory to go for audit if turnover is around 20lakhs to 22 lakhs???
This Query has 1 replies
FORMER -A, COMMISSION AGENT -B, RICE MILL -C.
FORMER-A- BROUGHT ITS PADDY (FOOD GRAIN) IN THE GRAIN MARKET FOR SALE ON AUCTION AT COMMISSION AGENT SHOP-B. THE RICE MILLER -C- PURCHASE THE FORMER PADDY ON AUCTION . NOW THE COMMISSION AGENT -B- ISSUE THE FORM I IN THE NAME OF RICE MILLER BY SHOWING AS
PADDY VALUE WT*RATE (50.00*3000) 150000.00
DHAMI/COMMISSION @2% 3000.00
LABOUR - BAGS*LABOUR RATE (100*7) 700.00
TOTAL 153700.00
THE COMMISSION AGENT -B SAYS THAT I AM NEITHER PURCHASER NOR SELLER. I AM ONLY COMMISSION AGENT/MIDDLE PERSON. THE COMMISSION AGENT TRANSACTION WITH THE MILLER HAS MORE THEN 50 LAC IN A FINANCIAL YEAR. MY QUESTION IS THAT THE MILLER IS LIBLE TO DEDUCT THE TDS U/S 194Q FROM COMMISSION AGENT.
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What is the procedure of change of PAN No. in Advance income tax challan.
Kindly advise me what is the procedure
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suppose a service provider is msme registered and the person who is taking the service is also msme registered so the service provider should mention the msme number of there own and as well as of the client also to whom they are providing the service . it is mandatory ?
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