A client is having cows and selling milk procured from them. Can the experts kindly tell the taxability of this income...

can promoters sell their 50% share in pvt ltd startup without paying cap. gain tax?
Should investor invest directly in pvt ltd company ?
but in this case, promoters cant get back money, right?
promoters dont want salary /remuneration etc.
my view-->unfortunately, there is no way promoters can avoid cap.gain tax
regards, ca kunjan

what is the accounting proceedure for accounting subvention income invoice received from bajaj finance ltd to a dealer dealing in electronis?is TDS u/s 194h is applicable while remitting by the dealer to bajaj finance limited?

A bank has taken possession of a piece of immovable property from a defaulting borrower through Court. Now Bank is selling the same through Auction. One Mr. X the bidder is the buyer - no doubt. So Mr. X is supposed to deduct tax at 1% from the Seller. Is he to deduct tax from the Bank or from the original owner ? Than you

We had provided an expenses invoice with GST in FY 20-21. But due to some disputes we didn't paid him for the charges nor taken GST credit. Even he also didn't accounted that invoice. Further disputes were settled & he issued same invoice in FY 21-22 but in mean while we missed to remove entries in FY 20-21 & filed ITR. Now what we must do to settle his account as we are considering invoice in FY 20-21 & he is considering in FY 21-22 (as per IT angle as well as GST angle)
Please suggest
Regards.

Sir
I have taxable income below 5 lakh but during the year have earned short term capital gain from sale of shares rs 200000
How to calculate income tax

Dear All,

A widower received family pension of Rs. 360000/- in FY 2021-22 which includes arrears of Rs. 120000/- pertaining to FY 2020-21.

For the purpose of computing relief u/s 89(1), can the assessee claim standard deduction u/s 57 of Rs. 15,000/- while computing the additional tax for AY 2021-22?

If yes, where / how to show the aforesaid deduction in the Table A of Annexure 1 to Form 10E?

Thanks
Niki

Sir;
Assessee deposited cash of old notes during demonetisation period of around 35 lacs. Closing balance of cash on 8 nov 16 Say Rs. 24 lacs. Assessee is engaged in the business of liquor sales. AO adds Rs. 11 lacs under section 68 as unexplained income & charged tax us 115BBE @60% Plus surcharge @ 25%. However this 11 lacs assessee has showns as business income. Since assessee is a liquor dealer he cannot accept cash during demonetisation period. Is there any other way to defend ???

A partnership firm with five partners having equal profit sharing ratio, of which one partner is a Private Limited Company and two directors of the company are also partners of the firm which owns immovable properties some of which are stock-in-trade and some are held as capital assets is going to be dissolved as four  individual partners are retiring from the firm, and they will get the capital balance in the firm from firm on retirement and all the assets and outside liabilities shall remain with the only continuing partner i.e. the company.




My queries are as follows:

Whether  there will be any tax liability upon the retiring partners, erstwhile firm or the sole proprietor i.e. the company ?
How will the company get legal title of the immovable properties ?
What accounting entries will be passed in the books of account of the company ?

Individual bought land for 10 lakhs during 2005. Individual rented the land to a Private limited company in which that individual is a Director and the private limited company constructed building for Rs 25 lakhs during 2016 in the land and claimed depreciation for the building. Individual sold the land with building for Rs. 100 lakhs during 2021. Kindly clarify the long term capital gains.