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Recent Questions

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

answers

1549 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

1936 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

1931 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

1634 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

694 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

574 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

2617 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

2410 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

1244 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

838 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

7140 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

563 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

443 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

526 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

587 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

486 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

6611 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

561 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

Question added Dec 25, 2018 Income Tax By Rahul , CA

answers

560 views

Q. Applicability of TDS on reimbursement of annual member ship fees of the ICAI from the employer - Can any one tell me whether reimbursement of annual membership fees of the ICAI from the employer is taxable in the hands of emplyee and wether employer can deduct HER on the same??
Please also give any circular regarding the same of the income tax act with proper section.

Anwered By : AKANKSHA

Question added Dec 25, 2018 Income Tax By saurabh , East Delhi

answers

503 views

Q. Income Tax Capital Gain - My Self Saurabh Gupta I Purchased a Land in the name of my father and after 6 years i sale this land and sale money deposited in my bank account before selling the land i got power of attorney to sale the land from my father .
kindly told me capital gain is taxable in my hand or my father and what is the consequences of this transaction.

Anwered By : AKANKSHA

Question added Dec 19, 2018 Income Tax By CA Rajesh Mandwariya , CA , Mandsaur

answers

518 views

Q. Presumptive income u/s 44AE - Under section 44AE for Assessment year 2019-20 it is mentioned that in case of heavy goods vehicle, net income of Rs. 1000/- per ton per month on gross vehicle weight or unladen weight to be offered for Income tax purpose. I have a Heavy goods vehicle gross weight of which is 42000 kg. and unladen weight is 12000 kg. Please confirm whether income shall be Rs. 42000/- p.m. or 12000/- per month.

Question added Dec 11, 2018 Income Tax By sandeep Kaushik , Bhiwani

answers

531 views

Q. TDS - Hi all,

I want to know whether it is required to deduct tds on payment made to Foreign embassy/High commissions in India regarding Sponsorship services. payment is to be made by Indian company. please reply with the reference of relevant section or circular/notification.

Many thanks in advance.

Question added Nov 17, 2018 Income Tax By manoj jain , CA , faridabad

answers

467 views

Q. income tax - I hv one query that one prop. Is having two firms A & B , A firm having Rs.30lakhs creditors of firm B and in firm B having same debtors Rs.30Lakhs in the name of A. In firm B there is no operation since last 4-5years. But firm A is having running business till date. Now prop has decided to write off sundry creditor firm B through capital account in firm A. Can it be done, if yes then, is it taxable or not , pls explain with any case ref...thanx in advance for valuable suggestion..

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Rambabu Senkarasetti

Accounts, Audit, Corporate Law, Finance, Income Tax, Service Tax, Students, VAT

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Vikash Kumar Jha

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Rishabh Upadhyay

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Ashish Karundia

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Mrattunjay

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PRIYANKA

Accounts, Audit, Corporate Law, Excise, Finance, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 136

CA. SURESH Kr. AGARWAL

Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 131

Vaneet Gupta

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Answers Posted : 120

Ketan Samdani

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