Hi,

Wanted to understand which Finance Act will be applicable for AY 23-24 i.e which finance act is applicable to determine tax rates and surcharge rates applicable for AY 23-24? Whether it will be Finance Act 2022 or Finance Act 2023? Please let me know. Thanks

Good morning all. One of our clients income tax assessment u/s 147 proceeding limitation date expired on 31st March 2024 , however the order not yet passed. Cases still showing under 'e proceedings ' 'for your Action' tab. What to do now ?

Sir,
A Doctor clinic maintained new residential house construction f.y.23-24 value rs:2 cores above completed.
Question:
New residential construction house value certification by(engineer) income tax valuer compulsory or not.

we have our ancestral agricultural land in pune city but this land gone under garden reservation. Pune municipal corporation has given DRC to us. we are planning to sale this DRC in open Market.
we have cultivated rice and other crops on this land till the DRC received.
Questions :-
1.is this sale transaction liable to pay tax under CG?
2.will it exempted under compulsory acquisition
3.If it is taxable then can we get deduction us 54B after purchased another agricultural land ?
Sir/madam Kindly explain with supreme court decisions or high court decisions.

one of our advocate has submitted a single bill in the following pattern

Written objection/Affidavit Rs.25000
Effective Appearance Rs.48400
Clerkage @10% Rs.2500
total Rs.75900

and
Misc exp. for scanning, courier etc. Rs.1850

it is requested to advice which amount we have to consider for TDS u/s 194J whether Rs.75900 or Rs.75900 + 1850

regards,

Namaste,
We represent an educational and charitable trust duly registered under sections 80G and 12A of the relevant statutes. Recently, an individual extended to us an unsecured loan, characterized by its interest-free nature and with a repayment timeline of 24 months. I seek clarification regarding the permissibility of issuing an 80G receipt to the lender in acknowledgment of the loan extended.

Can an NRI purchase agricultural land after returning to India. Now he is RNOR.

Hi Sir,

I bought an under-construction flat. So, I am paying the interest for now.

Can I claim both the interest and principal payments under Section 24 and 80C respectively?

Thanks in advance

Regards

Dear Sir,

Can transporter claim RTO fines & penalties paid.

Thanks & Regards
Lingam

Sir,
It assessess previous last 5 years income and expenses details showing in itr mentioned below
Income 5 years in itr rs:35 lacs
Expenses 5 years in itr rs:12,50,000/-
Net balance amount rs:22,50,000/-

Assessess investment bank fd rs:30 lacs amount
Question:
Investment fd in bank rs:22,50,000/- or 30 lacs correct.