One of my clients is employed at MNC shipping Company. Sometimes clients of his employer takes his personal advise on shipping matters and ready to pay him consultation fees. However as per terms of his employment he can not do private consultation. So he intends to take such commission/consultation fees in partnership firm of his family members, where in he will not be a partner. yearly such income will be to the tune of Rs 20 L (appro) and firm will disclose this as its income. However the firm will not have any partner having shipping line Business knowledge.
Advise is sought for any drawbacks of such planning. Any provisions violated of i) Income tax Act ii) Benamy properties Act? iii) Money laundering ?

Hi, I want to know why DP client transaction statement doesn't match with Capital gain tax report of DP?
What information is given in DP client transaction report ?
does it show total Quantity of shares purchased and sold?

I need to rectify return of income us 154 in response to intimation u/s 143(1) for A Y 17-18
Is this facility available on new portal ?

In 2012 company made payment of full consideration amount of rupees ten lakh and got a deed of conveyance executed for a property. Deed couldn't be registered on that day and physical possession was not handed over. Seller returned the demand draft of rupees ten lakh to the company with a promise to collect payment on next day of registration and handover of physical possession. Thereafter the seller refused to get the deed registered and handover physical possession. Company approached court for specific performance of contract (registration of deed & handover of physical possession) and got injunction on sale or transfer of property by the seller. Case is in trial stage. Now in 2021 the seller has approached for compromise at a price of rupees fifteen lakhs, which is lower by almost 40% than the current circle rate/market value of rupees twenty two lakh fifty thousand as prices have increased in last 10 years. Company wants to compromise and settle the issue. What could be income tax implications in this matter ? Section 56(2) & 50C?

1.1 I am a Newly (Jan21) Qualified CA
1.2 I was Already Registered My PAN in the Efiling Portal including DSC(old)
1.3 I was trying to Registered myself as CA in the Efiling Portal. But the Portal was not allowed me to Registered due to Error i.e. The Name of PAN and Membership (as per ICAI) is not the Same.
2.1 Name Change/Transaction History
2.2.1. Change in My Aadhaar Profile Name – Done
2.2.2. Change in My PAN card Name – Done
2.2.3. Change in My PAN Efiling Profile Name – Done
2.2.4. Change in My SSP ICAI Portal Membership Card Name – Done


Please Advice on my Issue

Respected Sir,

Income Tax Scrutiny Issue March 18
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As per the Financial transactions Details uploaded by your bank, it is found that during the Fy 2017-18, the company had purchased foreign currency of Rs 13,88,183. Actually bank should give us breakup of the said amount for enabling us to reconcile with our account.

Please guide me how to talk with the bank on this issue.

If any Persons Salary Comes under P Tax Liability. And in any month he was Absent for whole month. Then Whether P tax to be payable or not for the Respective month in which he was absent?

I am having 1 share of x company of RS. 5 per share on dated 01.01.2021 and company split the share on dated 01.03.2021 and issue 1 share for every 1 share held of rs. 2 per share. my query is regarding fraction of share which is balance amount Rs. 1. also can a company issue fraction of share and the same is tradable in market or not??

Respected Sir,

Please let me know the password for opening 15-CA for the year ending March 18 ?

sir
one of my relative redeem mutual fund . He is NRI Status in record at the time of redeem.
He retried from muscut and now resident in India. Tds 20 % is deducted while redeem the mutual fund.
He has no furture income during this year.
Can get refund while filing ITR Retrun.
let's me know one more that ,what is rate of income tax on such income.Can he get standard deduction .
Please advise
Binu