A minor filing his/her income tax return separately, for earning from own skills. While registering his/her PAN through Parent's login, any document related to "Proof of Income" of the minor is to be uploaded mandatorily. Now, in case the minor earns from tuition fees which is in cash what document to be uploaded?
I have received amount on maturity of pli on retirement. Is it taxable or exempt ? as they have deducted tds u/s 194 d .
If it taxable then it is taxable under which head and any deduction available.
In which section we have to take udin for tax audit of turnover below one crore.
I have a private limited company, recently we have a business proposal an with an another company which hold land, the proposal is development of land by construct residential and commercial establishment and sell to third party, for finance angle, we depend mainly on bank loan, and small portion of the development cost has contributed by the land holding company. In this scenario how i treat the amount received from these land holding company, does it required to issue invoice to land holding company
In case of an assessee who has income from business/profession if opts for new tax regime whether he/she will be allowed following deductions:
Whether business losses and Unabsorbed Depreciation can be carried forward?
Whether deductions under 54 etc. will be allowed in case income from capital gains?
Taxpayers Information Summary(TIS) for (Rs 189000) shows a entry of foreign currency purchase on portal. My client purchase currency for his brother foreign travel.
what to do with such a entry? Need to show in ITR If Yes where?????
regards
Vikas
Is the Composite transfer grant to Central government employees on retirement tax exempted
WHETHER FNO TRANSACTION AND INTRADAY CAN BE SHOWN UNDER CAPITAL GAIN HEAD ?
If a minor files his separate ITR showing income earned from his own skills, then whether his parents can claim 80C deduction for the tuition fees paid by the parent for the minor in his (parents) ITR.
IS FUNDS TRANSFER BY WAY OF CASH POSSIBLE BETWEEN TWO PRIVATE LIMITED COMPANIES WHERE IN BOTH THE COMPANIES THE DIRECTOR IS THE SAME PERSON WITH MAJORITY SHAREHOLDER.
TRANSFER OF FUNDS BY WAY OF CASH IS REQUIRED TO MEET URGENT BUSINESS PAYMENTS IN ONE OF THE COMPANY AND BOTH THE COMPANIES ARE ENGAGED IN THE SAME TYPE OF BUSINESS.
QUERY IS :
1. IF YES , HOW TO RECORD THE TRANSACTION IN THE BOOKS OF ACCOUNT ?
AND
2. WHAT DOES THE INCOME TAX ACT SAY ?
PLZ ADVISE.
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A minor filing his/her income tax return separately, for earning from own skills