WHAT IS THIS SECTION 115JC
SCHEDULE AMTC - COMPUTATION OF TAX CREDIT UNDER SECTION 115JC
1 Tax under section 115JC in assessment year 2025-26 (1d of Part-B-TTI) 1 0
2 Tax under other provisions of the Act in assessment year 2025-26 (7 of Part-B-TTI) 2 19,914
3 Amount of tax against which credit is available [enter (2 – 1) if 2 is greater than 1,
otherwise enter 0] 3 19,914
Hi, individual who sold his building for 2,50,00000 but it's cost value 1,43,00000 can I book the profit for the difference amount or credit capital account
Indian resident selling his foreign co shares to an OCI (Indian - American) receiving the consideration in Indian Rupees from the OCI's bank account in India. Is there any RBI norms required to be followed by the seller of the shares (Indian resident). on income tax angle Seller is ready to pay his capital gain tax on sale of shares.
Partners A & B are running a registered partnership firm named ' ANT', they opened a new Bank account in the name of the firm 'ANT' , after a year Partner B decides to retire and new Partner C is inducted to run the business .
please let me know if the old Bank account needs to be closed and new Bank Account for 'ANT' to be opened due to this Partnership change? most of the Bank Managers have said the old Bank Account ot be settled and new Bank account to be opened . but i cant find this law anywhere is there any RBI guide line or Law in Partnership Act , why is this done .
We have multiple branches in all over india. Our Head office is in Gujrat. We prepared one consolidated Balance sheet, profit and loss account
Under GST law each branch balance sheet, profit and loss account is required?
HII!! TURNOVER LIMIT OF 2CR AND 3CR UNDER 44AD IS INCLUSIVE OF GST OR EXCLUSIVE OF GST??
HOW TO CALCULATE TURNOVER ??
Mr sharmila Sold a flat of Rs. 570667 as similar to SV on 09/01/2025 whereas it was bought before 01-04-2001 and as on 01-04-2001 the SV is 134230. There is no expenses on account of sale or purchase. Income from other sources is 203830.
Compute tax liability in details.
Hello Members,
In form 16 Company has provided exemptions us 10 for different heads like Professional Allowance / Car allowance/ Telephone Allowance. However they have not indicated any sub section u/s 10 but parked the amount as Other Exemptions us 10. Now while filing the ITR it is asking to provide the sub section for all of the allowance for which exemption is claimed.
I am not able to get any exemption like Professional Allowance neither for Car and Telephone allowance. Could you please help provide the sub section for the above.
If there is not such deductions applicable do we have to add these back into the income and pay tax on this amounts as company has shown that as exemption and hence no tax is deducted on these incomes.
Regards
my client served in india from 1st april 2024 to 15 sept 2024 and after that he joined in a company in tokyo on 23 sept 2024,what will be his residential status for ay 25-26
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Income tax 115JC