Kollipara Sundaraiah
04 September 2020 at 20:58

Partner ship firm tax

What is minimum tax will payble in partnership ITR a.y.20-21.


Kollipara Sundaraiah
29 August 2020 at 16:14

Joint loan from bank repayment

Assess joint loan amount rs:30 lacs from bank(15+15).One Assess bank loan repayment rs:30 lacs( own 15 lacs +15 lacs brother)
Question:
Assess joint loan repayment one person paid accounting treatment in books.


sankar ponnan
20 August 2020 at 12:18

Bank Account / ITR Return

SIR
Q.NO.1
I Know that the proprietor need not open separate bank account for his business in his trade name of business. How ever, I want to keep the business transactions in separate account on my trade name. Can I do it sir?
Q.No.2
I expect the turnover above 50 lac in this financial year. Which ITR return to be filed?
Q.No.3
Some of my customers give cash for his purchases maximum as they are mostly buying for his own use. Any restrictions are there?
guide me plz
thanks in adv


scg
15 August 2020 at 16:10

Cost price on family transfer

I transferred a society flat,acquired in 2009 in Gurugram Haryana for Rs 55 Lakh to my NRI son in 2015 under blood relation transfer scheme where in no stamp duty is chargeed on transfer of property among blood relations.I have following querries-
1 What will be buying price at the hands of my son?
2 Since my son is abroad and in corona times travelling is not safe,if I have power of attorney from him to sell the house,my understanding is one can not transfer ownership on POA sale in which case I will not get a buyer.Any solution to this problem.
3 As and when the flat is sold,is he entitled to invest under sec54 (infra bond) to save tax?
4 In the alternative,can he buy a flat from her mother to save CG tax
Thanks
S C Goswami


sankar ponnan
14 August 2020 at 15:46

Last Date of filing ITR -2019-20

SIR
I should file the ITR both for me and my business having turnover of more than Rs.2 Crores. Plz tell me the last date of filing for ITR for 2019-20.

thanks in adv


Kollipara Sundaraiah
10 August 2020 at 20:16

Difference

What is difference between partnership firm and LLP


THOMAS ANTONY
08 August 2020 at 21:18

Earn leave encashment

I am a central public sector employee retired from service this year, whether leave encashment amount (8 lakhs) received is fully exempted from income tax at the time of retirement?


Rohan M

Hi,
One of my client (Individual) had invested in the NCDs of Dewan Housing finance. However post their default, client has not received even the principle on maturity. Is there any benefit in Income tax that they can get against this loss? what are the relevant regulations?
Thanks,
Rohan


Bharti
31 July 2020 at 17:58

TDS _PAID F.Y.2017-18

HI,

IN MY COMPANY TDS CHALLAN 281 PAID FOR THE F.Y. 2017-18 , AND SAME UTILISED PARTIALY AND BALANCE AMOUNT USED IN NEXT FINANCIAL YEAR 2018-19, BUT TAX DEPARTMENT DOES NOT ALLOWED THAT SO, CAN YOU PLZ ADVICE ME , HOW TO REFUND THAT PARTIAL AMOUNT OF TDS IF THERE IS NO ADJUSTMENT AVAILABLE IN THAT PARTICULAR YEAR.


Ca Neha Jain
29 July 2020 at 10:17

Credit cards cash withdrawals

A client withdraws cash from his credit card and deposits this in his savings account. Uses this amount to meet personal expenses and also credit cards payments.

How to report this transaction in income tax returns? Will the deposit in savings account be taxed?