ramya
28 November 2023 at 14:47

School accounts

in school accounts, school competition expenses comes under which expenses head in tally direct or indirect


Kunjan

assesseee got allotment letter/mou dated 2009 from builder
got flat possesion from builder and registered in 2015
after possession , sold flat to new buyer in 2016
question --> while calculating cap. gain for 2016, period of holding will be from 2009 or 2015?
my view --> from 2009 as mou /allotment letter can be said to be purchased (albeit it was just a right in capital asset back in 2009)


H Thakar
28 November 2023 at 14:20

Capital Gain on Market Linked Debentures

I had invested X amount in MLD in August 22, the maturity of the same was November 23. Total Period of holding 15 Months approx. Now on maturity the proceeds are credited to my bank account.

I want to know, how the gain will be taxed. Will it be taxed @ 10% as the same is purchased before 31st March 23. or at some other rate.


Punitha
28 November 2023 at 14:11

RCM on legal Fees

Is Rs. 5000/- per day limit applicable on legal fees under RCM of GST.


Chahat Khanna
28 November 2023 at 13:28

26QC AND 194IB

Resolved and deleted.


VIPIN GUPTA
28 November 2023 at 12:25

Shares of Unlisted Company

Dear sir,
One of our client was a Director in a Pvt Ltd company and had applied shares at the time of allotment @ 10 and Latter on there was a right issue which was also subscribed by them @ Rs65/- now they have sold shares of the Pvt Ltd Company @ 160/-. Is there any implaction that we have to go for valuation or go for Rule 10UAA. Kindly guide and will indexation will be available as allotment was in Fy 2013-14


sona1
28 November 2023 at 12:13

Revised retrun for Transporter

Note that we have already submitted our 26Q2,2023 Return timely and here shown one Transporter whose one bill taxable Value Rs. 32,500.00 but not deducted any TDS (i.e. 0%) because Transporter given us Declaration for Not Deducted TDS Purpose.

After Return submitted Department issued us short Deduction Notice Rs. 7150.00(including Interest) because Transporter Not Linked his PAN with Aaddher.

Note that We already paid this above demand amount and Online Added our Challan Details in statement on Trace website and create conso file.

Now our Question is how to show this paid demand amount in revised TDS return (CONSO FILE) .


RAJEEV KUMAR MEHTA
28 November 2023 at 10:09

Continuation of Deceased Bank Account

Sir,

A & B are joint bank account holders, A being first named. A has expired and deceased claim been submitted. However kindly advise :
A. Whether Banj account can be continued by the joint account holder?
B. Is there any banking guideline be pertaining to this?

Kindly Advise.

Thanks & Regards


Sanjay Budhiraja
28 November 2023 at 09:16

Gifting in NRE ACCOUNT

Hello All
I want to know if I give some amount in shape of gift to my brother who is a NRI.. SHALL THAT AMOUNT WILL BE TAXABLE IN THE COUNTRY AUSTRALIA in his income tax return..
Pl do reply.
Regards


Bharat Patel

I have received below answer;

Your ITR is invalid till the condonation request is approved. However, if the time to process the return u/s 143(1) of I.T Act is over, it is deemed that the condonation request, if any, has not been considered (or) has been rejected by the DIT(CPC).
Jan 25, 2022






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