Can Capital gain or Loss arise in case of Transfer of Land (Capital Assets) in exchage of another land?
Answer nowDear Friends,
One of our client had received some cash loans which could not be proved up to the satisfaction of the Assessing Officer. The same was added back with returned income and the assessee paid the demand raised. Now the question is what to do with the outstanding amount in Loan creditors account. Can the assessee transfer the amount added with the income to his Capital Account. There should not be further tax liability. Your views please.
Dear Sir,
My client is running business in boarding and lodging. We hire taxi from the travels to pick and drop the guest from and at the airport. Sometimes we even hire taxi to take them to several places. Should we deduct tax on the payment to the travels?
The manager of the hotel is paid Rs.18000/- pm as salary. Should we deduct tax on the salary? To what extent is HRA deductable?
Kindly advice
Regards,
Priya
four persons are cometoghethere purchae a land & there shares are equle after some time they sold the same land & take ther share from purchasers independently the AO assessed as an AOP because they are come toghether for purchase & sales of land
whether AO is right to assessed as an AOP or not
give the case laws or citations
thanks
If i transfer my all equity shares to portfolio wherein such shares are traded by Portfolio Managers.
I don't have any other business income. what shall be the nature of profit/loss which i have earned through portfolio?(either capital gain /loss or business income/loss).
please reply me with reasons.
whether the provisions of sec. 269ss & 269T is applicable to primary agriculture credit society
Answer nowWhat is the difference between Speculative Loss & Capital Loss?
Under what circumstances loss on sale of shares be considered as speculative loss and when shall it be Capital Loss?
Regards,
Shefali.
Dear all pls confirm event managemnt services are Professional services or contracting services? THIS IS FOR THE PURPOSE OF TDS MEANS AT WHAT RATE TDS SHOULD BE DEDUCTED BY OTHERS ON OUR INCOME IF WE ARE PROVIDING EVENT MANAGEMENT SERVICES . AT THE RATE OF 2% OR AT THE RATE OF 10%
Answer nowHai friends
I have come across a problem. A sole proprietorship is converted into a company. after that all income and expenses are booked in the name of the company. But the company forgot to intimate it to their clients and they continued making payments in proprietor's name. Actually the income is booked in the name of the company. But the problem came when the client issued TDS certificates in the name of proprietor. They are not willing to change it.
Since the proprietor has no income since all income is booked can he claim refund for the tax deducted in his name.
A company was incorporated in July 2004 . The company started Restaurant operations in the May 2005 .
The restaurant business was continued by the company till March 2008 . The Company has also exported frozen food to United Kingdom . Due to heavy operational cost the following losses as per income tax are accumulated .
Kindly advise if what conditions are to be fulfilled for claiming losses under Income tax Act in case we opt to merge this company into some other profitable company .
With regards
Sandeep Rohatgi
09868705794
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
CAPITAL GAIN on Land when land exchange