Dear sir,
Kindly advise,
if captial good imported under EPCG scheme, we need to pay IGST/Cess.
if it is exempted, kindly provide notification details

Respected Sir,

What is DIT Certificate ?

I had applied for new company registration as network marketing company and I have received below query from MCA: "Business of 'network marketing' 'channel marketing', 'multi link gift schemes', 'multilevel marketing', 'multi linking promotional activities', 'direct sales associates', 'pyramid structure schemes' and other similar activities cannot be done. Hence, remove such words and objects from MOA."

Can any one please confirm if this is valid query and give any section/rule reference which prohibits doing this business.

Thanks in advance

Dear Sir > Maturity value received from single premium ULIP policies are taxable as the premium paid in a year will be definitely more than 20% of sum assured upto 31.3.2012 and more than 10% after 31.3.2012. So almost all such single premium policies do not fall under section 10 (10D). In this situation which is the most advantageous way to deal with it and pay minimum tax.

Dear Sir,

One of my client is into a Boutique business and has been filing ITR-3 and submitting his Balance sheet till the last return filed 31.03.2020.

His Gross turnover is around Rs. 8 lacs from the business. The income is earned in cash and he deposits the cash into Bank. Some amount is received through NEFT.

Can he file return under Section 44AD or 44ADA and file ITR-4 under presumptive Taxation scheme instead of preparing accounts and filing ITR-3.

Please help me in this matter.

Regards,
Divyesh Jain

I am having long term capital loss in fy 20-21 can I show consolidated figure instead of scripwise detail in 112a schedule as fmv does not affect loss figure?

NSC interest is allowed as deduction U/S.80C . Whether it is also allowed as deduction U/S.80TTB ?

Sir,
assessee it returns every year.department sec 148 notice issued in f.y.14-15. assessee notice reply filed.if department sec 143(2) notice issued.
Question:
1.sec 143(2) meaning in it act.

Hello Sir,

If FD of 2,00,000 is opened for 4 years at 5.4% and payout is selected at maturity. Then interest is paid after 4 years of completion and given on date of maturity or auto credited to bank account.

Question is on 1st year , interest is carry forwarded with principal as it is paid on maturity. then after 31st march, will there be any tax on interest that is applicable for paying tax because interest is not given on this year only on 4th year ? will bank deduct TDS on this as form 15 H is not applicable due to more than basic slab.

similary 2nd,3rd year interest will it be shown in ITR or it is not taxable income as interest is paid on maturity.

Please suggest.

Dear sirs : My client is an NRI. He inherited property from his grand father... Now government has acquired this property and paid Rs.Fifty lakhs... Is this property taxable.... Secondly can he give this amount as gift to his family members... Will there be any income tax on any one .. Regards