Meaning of “Manufacture” for admissibility of Additional Depreciation
Meaning of “Manufacture” for admissibility of Additional Depreciation Short over view After undergoing the process of compression, natural gas acquires…
Uncategorized
Curbing cash transactions through Income Tax Law
Query 1] I have a query, the answer to which I haven’t been able to find on the internet in…
Payment for eviction of tenant is eligible for deduction
Query 1] My father age 91 is a landlord in Mumbai. One of his tenants is selling his premises to…
Income tax without actual income: Second house property
Query 1] I am 37 years old, working in a PSU for last 14 years. I had taken a home…
Cost Inflation Index for the FY 2017-18 notified as “272”
Query 1] I & my wife are both senior citizens and I want to take medical insurance for both of…
Quoting of PAN is mandatory if transaction value exceeds Rs. 2 Lakh
Query 1] Whether it is mandatory to obtain he PAN if we sale the goods above Rs. 50,000/- in cash…
Invest in Gold through Gold Sovereign Bond
Query 1] I have gone through the queries & answers on income tax on 2nd house/flat in which you have…
Issues in taxation of capital gain
Query 1] Please advise which ITR is required for my Mother (senior Citizen) for AY 17-18. She sold landed property…
To curb circulation of black money, filing of statement of financial transactions (SFT) has been made mandatory by different categories of taxpayers.
Query 1] We have received mail from income tax department asking to file the statement of financial transactions by 31/05/2017.…
ELSS income is totally tax free
Query 1] I am a senior citizen doing business with my known customers (all vat dealers) on credit basis &…
INCOME TAX LIABILITY COULD ARISE WITHOUT REAL INCOME
Query 1] I had booked a flat in Nov. 1995 & paid Rs. 2.75 lakhs in F-Y 95-96 & Rs.…
IT department is very efficiently capturing & analyzing the data
Query 1] During F.Y.2017-18, my expected tax liability is arriving at Rs. 2,600/-. My income of Rs. 5,20,000/- includes EPF…
Proper documentations & planning could lower tax incidence
lower tax incidence Proper documentations & planning could lower tax incidence Query 1] I have purchased a plot in FY…
No SFT to be filed if there is no reportable transaction
Query 1] With reference to column in The Hitavada Dated 22.05.17 on filing of SFT, I have a query. Whether…
Ownership of House property & Deduction on Housing Loan
Query 1] My father owns a plot in urban area of Nagpur and wants to gift it to me or…
LTCG exemption will be withdrawn if the new house is transferred within 3 years
Query 1] I read your article in The Hitavada Dated 17/04/2017 about JV & have question pertaining Joint venture between…
Even cash deposited in new currency is required to be reported in new ITR
Query 1] I] Last year, I have filed my income tax return in ITR-2A whereas my wife has filed…
No Income- No Tax is not the law
Query 1] My client Mrs. V.R. received letter/notice from I.T. Department (compliance management cell) regarding financial transactions done by her…
