income tax
This query is : Resolved
07 September 2008
bad debts recovered in the hands of sucessor from a disconitnued business r exempt or not.
07 September 2008
Yes. Pl refer 176 (3A)
08 September 2008
yes u/s 176(3A)
conditions are
1.business should have been discontinued.
2.any sum should have been actually received.
3.such sum would have been included in the total income of the person who carried on the business had such sum been received before such discontinuance.
4.such sum is taxable in the hands of the recipient.
conditions are
1.business should have been discontinued.
2.any sum should have been actually received.
3.such sum would have been included in the total income of the person who carried on the business had such sum been received before such discontinuance.
4.such sum is taxable in the hands of the recipient.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Annual return in Gst
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
