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TDS

Transfer of property to avoid tax

Why income is not assessed in assessment year on person likely to transfer property to avoid tax..Explain?


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Treatment for resident in India

An individual is said to be resident in India if he full fills any one of the following basic conditions 1. he is in India for at least 182 days for the relevant PY or He is in India for at least 60 days in the relevant PY and for 635 days during the 4 preceding PY by which the second condition satisfies and resulting in being a resident . However in the given solution it is given as non resident. can u explain briefly on this point


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Conveyance allowance and medical benefit

What is the taxability of conveyence allowance and medical benefit


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SECTION 92D

Whether section 92D applies or not in case where the specified domestic transaction entered into by assessee does not exceed 1 crore rupees. because in this section word mention is "international transaction" but not specified domestic transaction?


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TDS under section 194B

TDS u/s 194B whether the limit of 10000 is also applicable for Non Resident


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Cost of Acquisition

If any capital asset is acquired out of winnings from lottery on which TDS is paid under sec 194B what is Cost of Acquisition of such capital asset..please give sec no and reason in detail of this question.


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Capital Asset

If any assessee won capital asset on lottery and tds under sec 194B is paid on such kind winning what is cost of Acquisition of such capital asset


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Pocket Expenses

Why Out of pocket expenses are included in value of supply. As per rule 33 shouldnt it be considered as pure agent services?


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Telephone allowance

Is telephone allowance paid by employer to an employee. Then it will be taxable or not. If employer provides telephone to employee then is it taxable or not. Is the treatment for telephone and telephone allowance is same or not.


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lineal descendent

An individuals daughters son i.e. individuals grandson. Is considered to be lineal descendent of that individual or not as per section 56.2.x


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Acquisition of rural agricultural land

Will capital gain is attracted for compulsory acquisition of rural agricultural land.


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Compensation recieved in installments


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Gift from relative more than 5000

Gift from a relative of value exceeding Rs 50000. Is it taxable or not.


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Ennhanced Compensation

If enhanced compensation received in two installments. The first installment is received on 14 March 2018 and second installment received on 12 September 2018. In which previous years these enhances compensation will be taxable. Please mention the year of taxability?


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Treatment of gift receieved by Minor

An individual gifted amount Rs 200000 in cash to his minor child. With that amount that minor child earned income of rs 20000 by his talent and skill. What is the amount is clubbed in the hands of individual.


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Treatment of scholarship recieved by Minor

Scholarship received by minor child is taxable in whose hands?


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Section 80D under medical insurance premium

An individual aged of 57 years and her spouse were aged 61 years. She spent Rs 15000 on her self medical insurance premium. And on her spouse Rs 17000. So what is the eligible deduction under section 80D.


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Rebate under Section 87A

Rebate under Section 87A is available to the person leaving india as a representative of the Indian government.Explain?


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Gratuity Fund

Is retirement gratuity fund a long term liability or long term provision?


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exemption for section 90

Why tax residence certificate not require for claiming exemption for sec 90


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TDS not deducted in section 194i

Why TDS not deducted in section 194i?


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Deductions under 80rrb

Why cant deduction under sec 80rrb of 3 lakhs be claimed against the royalty income of copyrights of musical composition which is included in the income?


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Treatment for medical insurance of senior parents

Mr X paid medical insurance premium of his parents who are senior citizens and not dependent on him by cheque of Rs27000. What is tha treatment of this point.


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Deduction for recieving family pension

In income from other sources where the incomes covered in section 56 sub section 1 general deduction under section 57 is admissable same like to receive family pension or  any expenditure incurred like lawyers fee etc weather it is allowed as deduction?


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Reverse charge supply from unregistered supplier

A registered person who is liable to pay tax under reverse charge shall issue an invoice in respect of supply received by him by an unregistered supplier. What if the recepient is unregistered and receiving reverse charge supply from unregistered supplier?


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Tax rate to political party and electoral trust

What is the tax rate applicable to Political Party and Electoral trust?


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Rental income earned by SPV

Would the rental income earned by SPV also fall in the ambit of "Directly owned real estate" and hence be taxable in the hands of unitholders or would it be otherwise taxable in the hands of REIT?


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Section 32

What is the difference between date of installation and date of put to use? (ii) Assuming date of Purchase and Date of put to use is given in a question for the purpose of deduction u/a 32AD , which one would be relevant?


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NABARD OR Deposit scheme

In respect of the same, if expenditure of an amount in accordance with scheme is disallowed then, what is the difference in the treatment of amount withdrawn from NABARD OR Deposit scheme not utilized as per the scheme?


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Deduction of DDT

If spv pays dividend of rs 4 crores to business trust which is exempt u/s 10(34) in hands of business trust and conditions of section 115-O (7) are not satisfied then DDT will be deducted from dividend. Whether section 115BBDA will be applicable to business trust as dividend is more than 10 lacs ? Whether DDT will be deducted @15% plus 12% plus 4% and grossing will be done ?


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Treatment of Deffered Tax

As per income tax act what is the treatment of defered tax are given in profit and loss account ? Whether it should be deducted from net profit or not and why ?


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Salary interest commission paid by HUF

Whether salary interest commission paid by HUF to its members are allowed as deduction to HUF and whether such amount paid is taxable in hands of members if yes in which head ?


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applicability of section 54

As per finance act 2019 if LTCG is up to 2 cr then 2 house property can be purchased or constructed once in a life. Whether this amendment is applicable for sec 54 or 54F or both


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Deduction under 80GG

A person is employed on salary for 8 months and remaining 4 months as professional  can he claim HRA for 8 months and 4 months rental deduction under 80GG.


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Section 10AA

Whether deduction under section 10AA would increase on account of dissallowance under section 40A(3)/(3A)?


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Penalty order and notice of demand

Whether penalty order and notice of demand shall be issued at same time?


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Provision of job work

whether the provisions of job work is applicable only on taxable goods under GST? explain please


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Joint development agreement

What is joint development agreement under section 194-IC?


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Transfer of shares to daughter in law

If any person transfer any assets to his sons wife on occasion of marriage then whether it can taxable under sec. 64 clubbing provision although as sec 47 it is not consider transfer and as per sec56 x it not taxed in sons wife. Explain


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Notice to director for recoverey of tax

Is there any necessity to issue a notice to a director before attaching his property for recovery of tax.. by a Tax recovery officer?


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Loss from textile business

Can loss from textile business be set off from capital gain?


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Tax paid under section 44BBA

A non resident aviation company flying aircraft in india & paid tax u/s 44BBA. It pays remuneration to emloyees for flying the aircraft. whether the remuneration paid is to be deducted as expense from the income(44BBA) of the Non Resident Aviation Co and taxed in the hands of Employees? Ans if (a) Employees are Resident (b) Employees are Non Resident


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Capital gains

Capital Gains whether Annuity Income received by mortgager under Reverse Mortgage Loan enabled Annuity (RMLeA) is taxable u/h IFOS or exempted u/s 10(43) ?


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Section 13A and Section 13B

Political Party / Electoral Trust- What is the tax rate applicable on incomes of political party and electoral trust other than those exempt u/s 13A and 13B respectively ?


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Tax treatment in hands of Donor

What shall be tax treatment in hands of Donor(Gift Giver) if he gifts any property(immovable prop and other than immovable property) for Inadequate consideration ? Shall it be taxable u/h Capital Gains for Donor where gift is made for inadequate consideration ?


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Handicraft goods

if a person is supplying a goodds worth 35 Lacs intra state and 15 Lacs worth notified handicraft goods in a non special category state. Is he liable for registration?


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Inter state supplies

If a person is making inter state supplies,  can he opt for composition?


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GST on automobile sector

In GST on automobile sector  who is going to pay GST ,  promoter or the supplier?


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Additional deprication

If the computer is installed in any manufacturing business. is additional depreciation allowed on such computers. or only P and M is allowed.


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Deprication allowable on Air pollution

Is additional depreciation allowable on Air pollution control equipment?


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Unabsorbed deprication

Can the unabsorbed depreciation be set off if the assessee is paying tax under presumptive scheme 44AD?


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Exemption for many houses

As per amendment exemption is allowed for 2 houses u/s 54. But if we purchased 3 houses and made 2 houses as one then exemption allowed for 3 houses or not ?


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