Assess maintained a private hospital recently new pan card number received AOP registered in I.t. act.
Question:
Assess taxation of AOP for hospital and accounting records maintained producer

Please tell me exemption on 2 house property as self occupied is applicable from which A.Y 2020-21 or A.Y 2021-22. Also what can be self-occupied house? acc. to sec 23(2)- value of house used for own residence, or unoccupied house due to work in other place (and living in rented house in such other place).

So,is a vacant house not due to work in other place - is not self-occupied??

One of my client was shifted to Nigeria for job in March 2020. As part of his contract he has received $15,000 as Joining bonus, which is actually reallocation allowance to meet his expenses in Nigeria (West Africa). On above Income no Tax has been deducted in that country, but on his salary Tax at 20% has been deducted. Company has shown $15,000 as operational expense in its books of account in Nigeria and treated as expense.

India has no DTAA with that country.
My question is
1.Whether receipt of $15000 will be fully taxable in India or Exempted ?
2. If taxable, for determining taxability which date should be considered, date of Accrual or date of receipt?

My Father-in-Law had filed erroneous ITR (shown higher income when compared to Form 16) offline for AY 2011-12 and AY 2012-13. Outstanding Demand Notice was received then but not answered. Outstanding demand under 143(1)(a) was adjusted against refund for ITR filed for AY 2019-20. On 13 Sep 2019 again Outstanding Demand Notice under 220(2) recd and was not responded yet. Refund against ITR for AY 2020-21 stuck. Though, we will be paying penal interest under 220(2) but one year delay payment since Sep 2019 will result in another penal interest outstanding notice under 220(2). For erroneous ITR AY 2011-12,,, Can he submit any rectification and get refund now ?

An Employee (Ee) avails a company leased car from Employer (Er) through its appointed car leasing company (Clc). Clc leases the car for 4 years with a residual value of 20%. Clc claims input tax credit on the total purchase price P of a car, where the total purchase price P = (Ex-showroom+Regn+Other charges = B) + GST. Clc leases the car at a monthly lease of X = Principal (P) + Interest (I) + GST on lease as applicable.

The question is: Whether I is calculated on P or B at start of the term? Since ITC is claimed on P, then B is the value of the leased car, hence it seems logical that I should be calculated on B. Please clarify the rationale either way.

Whether there is different DEPRECIATION rate for 1) Plant & Machinery 2) equipment used in machinery as per companies Act what is rate for both

In private limited company quorum for passing board resolution in case of 4 directors is at least 51% so...resolution to be passed by at least 3 directors or two ?

How will the cess calculate if Quantity of Coal Purchase is in between 1 and 2 tonnes,

The rate for cess on coal purchase is 400RS/MT,
Same as 800RS per 2 MT,
But in such cases if Quantity is eg. 1.5MT, Now the how would the cess calulated?
(i) 1.5MT*400RS or (ii) 2MT*400RS?

Thanks in advance.

Respected Sirs/Madam,


Please guide me. I have insurance agency . and around 5 Lac from commission received + salary in the financial year 2019-20. I have some confusion regarding balance sheet prepare for own Income tax Return please let me now earlier years and current years personal Investment in shares / Gold/property is should be shown in balance sheet or show only relates to commissions Business Liabilities and assets. In comming years I will show income against sale of shares/property.



Thanks & regards
Bhupender
bhupenderka@yahoo.co.in

IS AY 19-20 BUSINESS INCOME IS 319683 (UNDER 44 AD ) IT IS PREPARED NOT ON ACTUAL BASIS.THE PERSON ENGAGED ON THIS ASSESSMENT IS A CONTRACTOR.MY DOUBT IS HOW TO PREPARE CURRENT AY FINANCIAL STAEMENTS USING THIS FIGURE ONLY.
(THIS CLIENT IS PREVIOUSLY FILED RETURN IN ANOTHER OFFICE AND HE IS NOT PRENSENT HIS PREVIOUS YEAR FIANCIAL STATEMENT FOR THE PURPOSE OF CURRENT YEAR ASSESSEMENT.)