an assessee who got enhanced compensation u/s 194LA . Return filed for asst year 2016-17 ON 30/11/2016 and refund received. While filing the return of income section 57 (IV) adhoc deduction 50% on interest on compensation not claimed. After receipt of refund rectified return claiming 50% adhoc deduction filed to CPC intimated it is not mistake apparent from record such changes can only be made u/s 139(5) and kindly contact your assessing officer in this regard- CPC REPLY. What we have to do to get the additional refund

Hello Expert,
I have case going on with CIT. ITO has asked me to file an affidavit under Rule 46A. Can you please explain the rule also provide any format of an affidavit.
Waiting for reply.

Hi Experts,

Need some clarification in Sale of Ancestral property .
Its my mother's property which was purchase in 1962 with the value of 70000 rs and now going to sale for 75 lakhs.

She have made a construction (2014) in that land for Rs 14 Lakhs. My Question is which year i should take for CII calculation and what value should be take for CII.

Dear sir,

Assessess has business income and he has not maintained books of account. He has declaring income under section 44AD and filing his return of income.
In his regular business income he has earning interest income on security deposit (deposit with party). Whether that interest income should separately considered or assume that it will consider as business income.

Thanks & regards.

Input Purchase during the period between when i become liable for registration as per Sec 22 till the date when i received the Registration certificate, if i apply for registration within 30 day as per rule

My client is partner ship concern. They have industrial land over which building was constructed in 2007. They had been running business of IT hardware in unit on which they had been claiming depreciation. In 2018 , they sold building .
For calculating Capital gain on land & building, land sale value as per circle rate was derived and indexation on cost of land was applied to calculate capital Gain. For building being depreciable asset, Sale value of entire building minus land value was Rs. 60 lac . Original cost of building constructed in 2007 is Rs. 22 lac on which depreciation till date was Rs. 15 lac & WDV of building is Rs 7 lac.
My query is whether Rs.60 lac minus Rs.22 lac (cost of building) i.e. Rs. 38 lac is to be treated as Long Term Capital Gain and Rs. 15 lac is to be treated as Short Term Capital gain . Further on Rs 38 lac, 20% is to be applied for calculating LTCG and 30% on Rs. 15 lac is to be applied for calculating short term capital gain.

does maintaining salary register and employee signature on salary register required for claiming salary expense?
all salary paid via bank transfer.

we are planning to sale our old machines to local dealer. Please advise whether the purchaser can avail GST credits on the machine we are planning to sell. Do we need to raise Tax Invoice? please advise

Return of income for the Asst. year 2016-17 carry loss of Rs. 10lakh , which was filed after due date of filing return of income U/S. 139. Also Next asst. year return of income this loss was not b/f due to late filing of return.
In scrutiny case no any addition made but loss not c/f as per return filed late (considering section 80 as well as u/s 139(3)) and levied penalty u/S. 271(1) (c) for incorrect information of loss c/f .
My question is officer is correct in his view
Or merely making a claim, which is not sustainable in law, by itself, will not amount to furnishing of inaccurate particulars regarding the income of the assessee.& no penalty can be levied on the same.
If possible share your view & case laws of such situation.

Dear Friends,

My Mother in Law has gifted me her 75 shares in a private ltd company.

1. should there be a consideration since the value of shares is 0 by virtue of it being a gift
2. I have the signed share transfer deed , do I also need to take a gift deed , what is the format and do I have to take it on any stamp paper

Kindly Advise