My father in law purchased house in 1969 and he passed away in 2015. we five(mother,daughter,3 sons) have sold the house for 1 crore. each one received rs 20 lakhs and it's mentioned in sale deed also
the capital gain computed as 60 lakhs

now mother has invested 20 lakhs and others invested rs 60 lakhs(20 lakhs each in rec bonds)
for my share i did nothing(Bonds or property purchase)
whether i need to pay tax or no need to pay tax for the investment of others (as they have invested above capital gain)
We received the amount thru bank only.
pls give suggestion
Thanks

Dear Sir,

my supplier has yet not filed the return i have reverse the ITC but please provide me entry how to adjust the same in books of account

WHAT ARE THE THINGS WE NEED TO DO IF A PRIVATE COMPANY IS GIVING REMUNERATION TO ONE OF ITS DIRECTOR CUM CHAIRMAN RS. 5 LAKHS P.M. AND OTHER DIRECTORS 2.5 LAKHS AND 1 LAKHS P.M. RESPECTIVELY AND ALL OF THE DIRECTORS ARE RELATIVES.

A doctor is running his own clinic.
He has two types of income.

Primary income from his consultancy fees
Second is sale of medicine in the pharmacy

In filing the income we can apply 44 AD for medicine sale and 44 ADA for consultancy income ?

Dear Expert, I need your special attention please ,Whether like supply ,in services Bill to & shift to concept is applicable ,( Sec 12 (2)(3) of IGST ) if yes please share me relevant Notification or Circular no please .it
wiil be grateful to you.
Thanks
Hariom

Arrear from 2006 to 03-2012 paid by MCL directly to SUPERANNUATION FUND ON 31/03/19.FORM 10E,ANEXURE I SUBMITTED BOTH ONLINE AS WELL AS HARD COPY ALONG WITH ATTESTED COPIES OF TAX RETURNS OF 2006-07 TO 2011-12. I AM GIVEN TO UNDERSTAND UPTO 03/09 THE SEQUENTIAL AMOUNTS PAID ARE TAX EXEMPT AND THEREAFTER U/S 17 (2) (vii) upto 1 lac is tax exempt till 03/2016 and 1.5 lac thereafter per anum. IN JULY THEY SHOWED WHOLE ARREAR AMOUNT OF 412245 ON FORM 26AS TDS AMOUNT OF 3127 (which is same as in annexure I). Now in Aug the Form26As is showing amount paid as 262245 while tax paid remains same. They have sent an unsigned form16B through mail Which shows 262245 as perquisite u/s 17(2) and tds 3127. I have already protested to my finance deptt. and sought appropriate Form 16 part A & part B. Pl tell me whether applying relief u/s 17(2) yearwise on arrear amount while computing relief u/s 89 is correct or not. Pl note in past I never availed relief u/s after 1989.Besides this arrear I do have pension,interest,capital gains,agri income totalling around 967956.Admissible deductions u/80C,G,TTB would be 248500.If Sec 89 relief as per annexure I is allowed my tax outgo would be far lesser.So pl tell whether both sec 89 and sec 17(2) (vii) can be apllied simultaneously on arrears remitted directly to Approoved superannuation fund.
AWAITING REPLY
RAJENDRA RAO

I have made a payment of Rupees 15,000 in cash to A single person, in a single day but for different invoices 1st of rupees 8,000 and 2nd for rupees 7,000. and does not covered under rule 6DD.
Is rupees 15,000 expenditure allowed ?
Please mention section/rule/case law....

What will be the consequences
As per income tax and as per company act

if Dividend is paid in private company.. more than 1/10 of p.y paid up cap and free reserves and Even dividend tax is been paid on that...

As it is a NPO registered under XXI of 1860
1. What would be the value of building
2. How it reflect in R/P, I/C and Balance Sheet.

Hi , company and it's another wholly unit have same pan card, and filling the consolidate return, where profit & loss , asset liabilities of the wholly owned unit is mentioned. Wholly owned unit have trade license and it is mentioned wholly unit &the original company name. Whether it possible that company &wholly owned unit have one pancard & file one consolidated return?