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Recent Questions

Question added May 26, 2017 Income Tax By Mustafa , CA , Kota

answers

327 views

Q. Capital Gain - Mr A pledged his property to bank on behalf of the company against Term Loan. Due to the default by the company in discharging its loan liability bank has sold the property and recovered its loan amount in full. Whether Mr A has any liability under Capital Gain Tax based on the fact that he has not received any sales consideration and also he has given his property on the good faith to the company and he is not related to the company in any way?

Question added May 23, 2017 Income Tax By SAHIL M GUPTA , CA , West Delhi

answers

312 views

Q. wealth tax - whether cash seized by deptt. is taxable as asset under wealth tax act

Question added May 21, 2017 Income Tax By Nikhil Ramnani

answers

362 views

Q. Sec 269ST - Whether the Cash Transaction limit of less than Rs 2 Lakhs from a Single Party, as governed by Sec 269ST is the limit of a single bill or aggregate of all the bills raised to a Party during the Whole Year?

Certain People are having query that they can do cash business (Sales) with a Single Party of a limit of less than Rs 2 Lakhs, irrespective of no of bills issued during the whole year.

Please Clarify.

Question added May 19, 2017 Income Tax By DHIRAJ SAHAJWANI , CA , Panipat

answers

674 views

Q. Due date of completion of assessment u/s 143(3) for AY 2015-16 - What is due date of completion of assessment u/s 143(3) for AY 2015-16

Question added May 16, 2017 Income Tax By Harsh Kumar Garg , CA , Panipat

answers

382 views

Q. Interest U/s 244A on Income Tax Refund - Whether the amended provisions of sec 244A by Finance Act 2016 applies only in relation to ITR filed after 01.06.2016 or do this also apply in relation to refund granted after 01.06.2016 even if ITR filed before that date, say, 11.09.2015.

Question added May 10, 2017 Income Tax By Nitish Kumar

answers

403 views

Q. HUF - A daughter who is a member of a huf created by her father.what will happen when she gets married.Whether she Wii continue to be a member of huf.2 can her children can claim in huf property.

Question added May 06, 2017 Income Tax By subhash kumar

answers

557 views

Q. Children Edu/hostel allowance under section 10(14) ii &2BB - Is staying in hostel is compulsory to avail the exemption of children hostel allowance

Question added May 05, 2017 Income Tax By JAYANT PANDYA , CA , Surat

answers

313 views

Q. cash payment of salary and wages - Can the business concern pay cash Rs. 9000, twice in a month towards monthly wages of Rs. 18000.

Question added Apr 27, 2017 Income Tax By Nitesh , Hansi

answers

378 views

Q. TDS Return related - My Firm has given money on Intt. to 3 persons. Annual intt. for F.Y 16 -17 comes around Rs.30,000 for Each but all 3 have given Form 15G declaration for Non-Deduction of TDS. So, No TDS has been deducted by my firm. Now, I have filed From 15G Return Electronically on Incometax website. My Question is Do I have to file Quarterly TDS Return also even if I donâ€™t have any deductee whose TDS is deducted?

Question added Apr 26, 2017 Income Tax By Shashank Gupta , CA , Agra

answers

323 views

Q. ITR - Defective Return u/s 139(9)

Question added Apr 02, 2017 Income Tax By CA Vinod Kumar Chhabra , CA , Muzaffarnagar

answers

416 views

Q. HUF - There is a huf consisting of Son and Mother after the death of Father. He also have his family consisting of his wife, 1 son and 2 daughter and also smaller HUF consisting of these members. Now the questions are : 1. Who are the coparcener and member of Bigger HUF - whether his own family members (wife, son and daughters) are part of Bigger HUF or not. 2. The mother died and he only left as karta/ member of the Bigger HUF, in this case whom to transfer the Capital of the Bigger HUF - to him as individual or to his HUF. What are the present law in case of HUF.
3. A HUF consisting formed before 1978 smaller HUF mother died and karta son alive what is the status of HUF.

Read more at: http://www.caclubindia.com/forum/huf-and-smaller-huf-186543.asp

Question added Apr 01, 2017 Income Tax By Krishnan G Sarma , CA , Thiruvananthapuram

answers

510 views

Q. Income tax - AOP for about 15 years with original PAN status as AOP, registers as a Society under Societies Registration Act, applies for 12AA Registration, gets provisional Registration with Unique Registration No. as a Public Charitable Trust, belated Return for AY 2015-16 filed on 31.03.2017 as an AOP as accepted by the IT site. What is the procedure, chronologically for conversion to Society / Trust for Income tax and claim exemption as a Public charitable Trust if found eligible by ITO?

Question added Mar 31, 2017 Income Tax By SAHIL M GUPTA , CA , West Delhi

answers

427 views

Q. SELF ASSTT. TAX PAID IN ANOTHER PERSONS PAN - I HAVE WRONGLY PAID SELF ASSTT. TAX IN ANOTHER PERSONS PAN. WHAT IS PROCEDURE TO MAKE CREDIT OF TAX IN WRITE PAN

Question added Mar 24, 2017 Income Tax By Anjali jain , CA , Ajmer

answers

589 views

Q. NRI TAXATION - IF ANY SALARIED PERSON WHO IS NRI , DOING JOB IN U.A.E. RECEIVE SALARY IN CASH. BRING AMOUNT IN CASH FORM IN INDIA. WHAT WILL BE THE TAX TREATMENT AS PER INDIAN INCOME TAX LAW ? IS THEIR ANY TAX LIABILITY WILL ARISE IN INDIA IF HE FILE INCOME TAX RETURN IN CAPACITY OF NRI IN INDIA?

Question added Mar 15, 2017 Income Tax By Shweta , CA , Indore

answers

303 views

Q. income Tax - Tax Audit when profit less then 8 %

Question added Mar 08, 2017 Income Tax By Sandeep Sood , CA

answers

320 views

Q. pan - what documents required for applying PAN of Army Canteen

Question added Mar 03, 2017 Income Tax By MONIKA SHARMA , CA , Amritsar

answers

499 views

Q. Tds on providing service of online access to information - The assessee (Company) deals in Trading of GPRS equipments installed in for wheellers. Signals from GPRS are not readable as such but an access is given to the customer of a online website to read GPRS signals.Company charges certain service charges from its customers to acess the website and in turn pays service charges to the website owner. The difference of amount of charges charged from customers and amount of charges paid to the website owner is the profit of the company. Now,whether, Company is liable to deduct TDS on amount of service charges paid to website owner? The website owner raise invoice specifying the service charges plus service tax thereon.

Question added Feb 16, 2017 Income Tax By Nagendra Bhat Katapadi , CA , Bangalore

answers

257 views

Q. NRI Status - How do we classify NRI..Is it neccessary to have a work visa or residency permit to prove NRI status or simply stay away for more than 182 days eventhough on a business trip or visit visa..

Question added Feb 15, 2017 Income Tax By Abhay gupta , Jaipur

answers

373 views

Q. TDS on interest Income for Trust - There is a Trust which is exempt from Tax as registered under 12 AA of the income tax act.
The trust receives interest from Bank on which bank deducts TDS, so there is a way by which TDS may not be deducted on interest income received from bank.

Question added Feb 11, 2017 Income Tax By Ratan Kumar Banka , CA , KolkataM.C.

answers

298 views

Q. Budget - Construction of Flat at Municipal area 30 sq. mts,. conditions and application of this act

Question added Feb 06, 2017 Income Tax By surender verma , Gurgaon

answers

286 views

Q. regarding incometax return file on MCA PORTAL - Dear Sir
i havea pvt ltd company having turnover less then 10 lacs ,need to file profit and loss ,balance sheet etc on MCA portal for 2014-15 ,should we need any CA/CS to file that or our accountant can do it ,plz update me

Question added Feb 04, 2017 Income Tax By Rohit Baweja , CA , Ludhiana

answers

480 views

Q. 12A and 80G related query - sir i have following queries
1. public trust has been created on sep 2016 , should we have to wait to close the f/y 2016-17 to apply for 12A and 80G or it can be apply before closing of f/y 2016-17
2. can we apply 12a and 80g simuntanously?
3 is it necessary to receive donation and their usage before applyng for 80g and 12a?

regards

Question added Jan 17, 2017 Income Tax By CA KIRAN LONDHE , CA , Mumbai

answers

580 views

Q. Cow milk income taxable as agri income - Is cow milk income taxable ?? Farmer having 30 cows . He supplies milk to dairy society without processing . Is it agri income ?

Question added Jan 17, 2017 Income Tax By DHIRAJ SAHAJWANI , CA , Panipat

answers

416 views

Q. ITR Filing of AY 2016-17 - Can ITR of NIL Income Tax of AY 2016-17 be filed in April,2017

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