Sec 269 st
This query is : Open
Kollipara Sundaraiah
(Querist)
01 June 2019
I.t. assess sale of paddy to rice Miller. Cash received rs.270000/ from rice Miller.
Sec 269st applicable.
Sec 269st applicable.
Amol S Joglekar
(Expert)
01 June 2019
for 269ST, reference is made of section 269SS...transaction referred in section 269SS.
One of the conditions in the proviso of section 269SS is that "both having agricultural income AND neither of them has any income chargeable under income tax act.
IF rice miller is able to satisfy both these conditions, then 269ST is not applicable, else applicable
One of the conditions in the proviso of section 269SS is that "both having agricultural income AND neither of them has any income chargeable under income tax act.
IF rice miller is able to satisfy both these conditions, then 269ST is not applicable, else applicable
Kollipara Sundaraiah
(Querist)
01 June 2019
Cash loan received limit 20000 and above for I.t .assess.
Amol S Joglekar
(Expert)
01 June 2019
sorry, what is the query about 44AB and 44AD?
Kollipara Sundaraiah
(Querist)
01 June 2019
modify query
Amol S Joglekar
(Expert)
01 June 2019
no problem......but what is your query for 44AB and 44AD? please rewrite the query
Kollipara Sundaraiah
(Querist)
01 June 2019
loan limit 20000 for 44ab audit assess and ,44ad assess same limt applicable.
Amol S Joglekar
(Expert)
01 June 2019
yes. 269SS is generally applicable. No any exemption for 44AD
Kollipara Sundaraiah
(Querist)
01 June 2019
thanks reply
I.t .assess house expenses drawing maximum limit one finicial year
I.t .assess house expenses drawing maximum limit one finicial year
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