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Recent Questions

Question added Jan 09, 2020 Income Tax By Kollipara sundaraiah

answers

388 views

Q. Sec 269st applicable - One I t.person cash gift received from another person(father)Rs.150000/-*3 times total Rs.450000/- received from one finicial year.my question sec 269st applicable please reply

Question added Dec 29, 2019 Income Tax By Rakesh , CS , Amritsar

answers

749 views

Q. Section 55 of Income Tax Act - I own a house in Individual capacity. Expenditure on its improvement was incurred by HUF of which I am karta. Will indexed cost of this be included in cost for Long term capital gain calculation.

Question added Dec 23, 2019 Income Tax By A.K.Varshney & Co. , Delhi

answers

822 views

Q. TDS Query - One of our client want to sold her property in India but do not have pan card.My query is if we apply for pan card then on which address we will apply on Indian address or Outside India address..?

Question added Nov 11, 2019 Income Tax By CA.Manoj , CA , Bhavnagar

answers

808 views

Q. Two PAN Numbers - A person having two pan cards filed return in one pan number and IT department issue notice for non filling of return for another pan.

Question added Oct 21, 2019 Income Tax By SUBRATA SARKAR & CO , CA , KolkataM.C.

answers

1499 views

Q. Income tax applicability for NRI - Indian NRI is in employment for last 5 years in USA. Meanwhile he bought a Flat at Kolkata 2/3 years back. Now he wants to sell the Flat which will fetch more than 50 lakh. Kindly appraise me what will be TDS Rate and Capital gains tax. Whether there is any exemption available for TDS and capital gains tax.

Question added Oct 09, 2019 Income Tax By MONIKA AGGARWAL , CA , East Delhi

answers

1369 views

Q. Soceity ITR - I HAVE A QUERY RELATED TO FIRM REGISTERED UNDER SOCIETIES ACT OF 1860 RUNNING FOR RELIGIOUS PURPOSE LIKE, KEDARNATH YATRA, EYE TREATMENT CAMP ETC. I WANT TO ASK WHICH ITR HAS TO BE FILED UNDER INCOME TAX ACT & SECONDLY , WHETHER AMOUNT RECEIVED AS DONATION MINUS AMOUNT OF EXPENDITURE WILL BE CHARGABLE TO TAX OR NOT?

Question added Sep 28, 2019 Income Tax By CA Rajesh Mandwariya , CA , Mandsaur

answers

1786 views

Q. capital gain - Dear sir,
If an assessee has completed construction of his house in June 2018 with an investment of Rs. 25 lacs.
Thereafter he sold an old plot and long term capital gain on it is Rs. 14 lacs.
Whether he is eligible for deduction u/s 54F or not.

Question added Sep 27, 2019 Income Tax By manoj , CA , Pimpri Chinchwad

answers

1712 views

Q. Income Tax - is there any case law for exempting surplus in AOP

Question added Sep 27, 2019 Income Tax By vanaja , CA , Guntur

answers

1477 views

Q. 80p deduction for cooperative credit society categorised as body of individuals in PAN - can a cooperative credit society avail 80p deduction if its category is BOI as per PAN? please clarify me

Question added Aug 11, 2019 Income Tax By CA Rajesh Mandwariya , CA , Mandsaur

answers

554 views

Q. Depreciation - Suggest the rate of depreciation on fuel tank of bio diesel pump

Question added Jun 07, 2019 Income Tax By sunil singhal , CA , mathura

answers

370 views

Q. Income tax - Return of income filed after by a trust registered u/s 12aa. Whether deduction u/s 11 of expenditure is not allowable or there is any other disallowance.

Question added Mar 18, 2019 Income Tax By NEHA YADAV , Mathura

answers

2460 views

Q. Transfer of lease hold rights - In case of transfer of lease hold rights whether section 50C is applicable or not?

Question added Mar 16, 2019 Income Tax By NEHA YADAV , Mathura

answers

2261 views

Q. Leave Encashment - Sir,
the benefit of section 10AA of the Income Tax Act is available to Govt. undertaking say IOCL or UPPCL or not?

Question added Mar 12, 2019 Income Tax By Paramita Deb , CA , KolkataM.C.

answers

1118 views

Q. Needed Practising CA - can any proprietorship firm practising in north kolkata specialising in Trust, and NRI related Income tax matters provide their active mail-ID ?

Question added Feb 21, 2019 Income Tax By nitin malhotra , CA , Noida

answers

705 views

Q. sarfaesi act - hi friends,
if my loan outstanding from bank of rs. 8cr and my property value is 5 cr and bank goes to sarfaesi but i already received a notice from i tax under 281. can bank sell this property or not?

Question added Feb 20, 2019 Income Tax By DINESH KUMAR , CA , South Delhi

answers

5496 views

Q. format of reply to notice under section 142(1) - reply to notice u/s 142(1) of IT

Question added Feb 13, 2019 Income Tax By RAJESH KUMAR , New Delhi

answers

408 views

Q. Rectification u/s 154(7) of TDS Demand u/s 272A(2)(K) - Hi..., I have checked there is manual demand created by AO on the traces Portal of Total Rs.3,33,300 for the For FY.2009-10, 2010-11 & 2012-13. While i visited to the ITO Nirman Vihar, Delhi, found clarification from the AO that It was created u/s 272A(2)(K) which for delay furnishing of TDS return. although i have filed those TDS statement within the time prescribed on due date. I have filed rectification u/s 154 dated January 30,2019, but AO is not considering my application stating that time(4 years) for rectification is expired. Now what recourse/ remedy is available to rectify those mistake which are apparent from the record of the tax authorities. Thanks Your valuable suggestion will be highly appreciable

Question added Feb 12, 2019 Income Tax By Santosh Kumar jha , East Delhi

answers

314 views

Q. Income Tax Slab - What is new income tax slab rate for the financial year 2019-20

Question added Jan 30, 2019 Income Tax By Richa , CA , Gorakhpur

answers

381 views

Q. income tax - How to create HUF of a salaried paid individual. and how to generate income of it?

Question added Jan 16, 2019 Income Tax By rajat jain , CA , East Delhi

answers

388 views

Q. How to claim interest expense on hosing loan of director in company in which he is director - One of the director having housing loan on his residential property of Rs.12crore & paying interest of around Rs 1crore P.A., since there is restriction in house property under income tax that interest expense can be claimed upto 2 lakh P.A. on owned property, so he want to claim interest on such loan in the company in which he is director without transferring the ownership of property to company is there any possibility that loan can be transferred without attracting tax liability.

or is there any way that company can claim the benefit interest on such loan without attracting tax liability

Question added Jan 08, 2019 Income Tax By Sandeep Wason , CA , Delhi

answers

310 views

Q. Cost of acquisition for Capital Gain - Whether Interest paid on delayed payment to DSIDC for acquisition of land is part of cost of acquisition or not.

Question added Jan 07, 2019 Income Tax By Tarun Gupta , CA , Faridabad

answers

5981 views

Q. TDS on Travel Agency - Hi Expert
A company paying a fees assume 300/- per ticket to its travel agent for booking ticket . Agency raise invoice for ticket cost + 300/- per ticket in its invoices . What is nature of this service and is it covered under TDS. if yest then which section.

Anwered By : Kamal Garg

Question added Dec 29, 2018 Income Tax By Deepak , CA , South Delhi

answers

417 views

Q. Section 44AD - An assessee showing PGBP income u/s 44ad in AY 2018-19. Now he's having salary income in AY 2019-20.
Does the question of tax audit arise to the assessee?

Anwered By : AKANKSHA

Experts Panelist

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