Compensation is made to me for compulsory acquisition of my residential house in April, 2018,
I, constructed new residential house in same year i.e. 2018 with expenditure more than compensation received,
how can i claim exemption to capital gain in Income Tax,
which section is applicable for exemption for AY 2019-20.
Premiums paid by pvt Ltd company for its directors for keyman insurance policy deductible u/s 37(1) are not claimed by the company as expenses for last 10 years and are shown under loans and advances assets
My question is can they be claimed as prior period expenses in f y 18-19 ?
Also if policy is assigned to directors whether surrender value is taxable in the hands of directors and Whether surrender value needs to be recovered from directors and deposited in company ?
ABC Ltd (listed company) is holding shares 75% in 'X Ltd' which is a widely held company. Now ABC Ltd decided in FY 2019-20 to transfer shares of 'X Ltd' to closely held company 'Y Ltd'.
Can 'X Ltd' carry forward business loss incurred prior to FY 2019-20?
A company has sold some goods to a party amounting to Rs 225000/-. The purchaser deposits Rs 50000, Rs 25000, Rs 75000 & Rs 75000/- on a single day cash directly in the bank account of the company. Purchaser deposits the amount at different times on the same day. Since aggregation rule is not there, still is it to be reported under SFT in Form 61A or not? Please advise.