I am V. M. Kurian

I run a proprietary Business. Fixed Assets include Motor Car Block 3 Cars, WDV Rs. 30,00,000/-. I propose to sell one Car on, 30/11/2022 at Rs. 50,00,000/-, the other two cars are to continue, on 31/01/2023 I propse to buy another car at Rs. 100,00,000. Question -does the motor car block cease to exist on 30/11/22 , am I liable to Capital Gains.

Sir, Mr. A had paid an unsecured loan of Rs. 10.00 lac to Mr. B. Mr.A has expired. Now how to treat the said loan in Income-tax file ? Whether the said loan may be shown in A's wife file ?

GST TDS HAS BEEN DEDUCTED IN 2019-2020.
GST TDS DEDUCTED NOW REFLECTED IN ELECTRONIC CREDIT LEDGER.

GST TDS DEDUCTED IS DEBITED IN THE PROFIT AND LOSS ACCOUNT SHOWING IT AS EXPENSES? IS IT CORRECT OR WRONG? WHETHER IT WILL AMOUNT TO DOUBLE BENEFIT? REQUESTED TO EXPLAIN PLEASE.

Which ITR form is to be used for filing returns for A.Y. 2022 - 2023 under belated return category under the following situation

1. As assessee who is 50 years old is earning income from doing job typing works from home.

2. His income from job typing is less than Rs.1,00,000/-

3. Other income is from Income from fixed deposits.

Overall his income is less than Rs.2,20,000/= He is filing the return as he is having Pan Card.

As his income from Job typing is less than 1,00,000/= whether it is mandatory or optional to maintain books of account.

Since last assessment year he has not opted Section 44AD. Whether opting for Section 44AD is mandatory in this case.

Hey!!

Can someone explain to me the short put options graph with the example of a shareholder??
I am an economics student. I have understood the graph with the example of an insurance company but cannot understand it with that of a shareholder.
Also, if possible can you also clarify the difference between short and long positions?

Thank you so much!!

The assessee is a Company engaged in real estate business. It holds a few apartments purchased as its stock in trade. One such apartment has gone in for redevelopment. The assessee (company and not an individual or HUF) has received an amount as corpus as part of the redevelopment process.

Questions:
1) is the amount received a capital receipt or revenue in nature?
2) can this amount received be adjusted against the cost of the flat (held as stock in trade)
3) from a tax perspective - is this a taxable receipt or tax free receipt?
4) if it is a taxable receipt under which income head should this be reported?
5) can the usual treatment of reducing the cost of acquisition by this amount for computing capital gains (in a typical redevelopment case where assessee is individual and asset is a capital asset) be applied (i.e. reduce cost of stock in trade) even in case where assessee is a company and asset is classified as stock in trade.

Opinions welcome

can a private ltd company gift its own property to its existing director ??
can a hsg society register the director as owner/member of the society ??
effect on the tax angle of such gifted property -- in income tax/gift tax to
both the pvt ltd company and as a individual as director
thanks
pls note gift deed is registered/stamp duty paid

In case of a person earns an income exceeds 15 lakh in india, is the global income earn by him is taxable in india?

Sir/Ma'am,
Company is a recipient of Services Provided by Lawyer (which is an R.C.M Services). Company has paid Reverse Charge @18% on that invoice and the same Reverse Charge paid is unable to claim as Input Tax Credit as Input Tax Credit is not available on G.S.T Portal.

Hai sir.., I am doing construction civil services drawing work to other countries. my client turnover is 32 lakhs in financial year 21-22. while I file my income tax return it will come under 44AD or 44ADA?