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neeraj avinash kotwal
This Query has 1 replies

This Query has 1 replies

Does Part III of previous year's Finance Act becomes Part I of current Finance Act?

Similarly will the Part III of current Finance Act become Part I of the next Finance Act?


NIRMAL DAVE
This Query has 3 replies

This Query has 3 replies

Dear All

I have sold agriculture land after converting the same as Non-Agriculture.
I Got the same land in inheritance.

I want to know how to calculate capital gain on the same?

What amount can be considered as cost of acquisition if purchased before the Year 2000? Is it the value on the date of purchase of land or on the date of conversion to Non-Agriculture??

Thanks
Nirmal Dave


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

Sir,
It person (father) own property let out income rs:30,000/- p.m. and rental income credit by son bank account every month.

Father rental income gift to son transaction rs:30,000/- * 12 months show in books.
Question:
Assessess gift to son rental income every month entry passed accepted in it act.


CA SASHI KANT SHARMA
This Query has 6 replies

This Query has 6 replies

Dear sir,

My client is engaged in the supply of crane on contractual basis from one place to other not owing any vehicle opted presumptive taxation scheme under section 44AD for the FY 2021-2022 because his turnover is 1,90,00,000/-. But A.O is saying that as his turnover exceed 1 crore he is mendatorily required to Audit under section 44AB of IT ACT,1961 & TDS Provision also applicable.

Please expert resolve my query as soon as possible.


Sumit R
This Query has 1 replies

This Query has 1 replies

I mistakenly put my old landlord pan in hra claim in last year's itr file.
The case is my old landlord sale his house, and as per my previous hra claims I submitted the hra but with new landlords name. Now i have the pan card details of new landlord but previous landlord has paid the tax on that hra claim.
Now i want to correct the last year's itr that had old landlords pan with the new landlords pan, so that the tax that my old landlord has paid will be return back.
I checked there is an option of ITR website to make corrections in last year's itr file.
I will be thankful for any guidance provided.
Thank you.
Sumit


Harshad Khona
This Query has 5 replies

This Query has 5 replies

Where I have to indicate my choice of carrying forward losses in ITR 2 ?

Pl help.B1b


Suresh S. Tejwani
This Query has 3 replies

This Query has 3 replies

As per above mentioned subject, applicability of section-194ia in case of property purchase from GIDC (Gujarat Industrial Development Corporation).
I have purchase an Industrial Plot from GIDC . Is it attract TDS on purchase ??


Chitsimran Singh
This Query has 5 replies

This Query has 5 replies

23 November 2022 at 12:43

JOB work service and DTAA

An Indian company provided a job work service (on an item) to a foreign company (Nepal), and foreign company deducted a withholding tax. In DTAA there is no specific provision to tax job work service.
will it be covered under other article provision and it will be taxable in India only and foreign tax credit of all entire withholding tax will be allowed as relief u/s 90?

Kindly guide on this.


Rama Thiagarajan
This Query has 1 replies

This Query has 1 replies

It was answered on this forum that Depends Unless specifically declared to bank, bank deduct TDS & declare the FD in first holder's PAN. Are there any Income Tax Circular or guidelines for this practice followed by the banks.

Read more at: https://www.caclubindia.com/experts/tax-treatment-for-interest-on-joint-bank-account-2878069.asp


Subhash
This Query has 3 replies

This Query has 3 replies

Father has transferred his physical shares to the Demat Account of the son, and then son sold the same and remitted the amount received on sale of shares.

What would be the implications of capital gains tax in the hands of father and son.

Please guide.






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