Answers On Category: Income-tax
What is the law and procedure to be followed for renewal of Registration as per new provision of Section 12AB of the Income tax Act, 1961 (Act)?
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Can the prosecution be initiated during the pendency and before the completion of assessment or during the pendency of Appeal before the appellate authority?
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For Income tax assessment For how much period the books of accounts are required to be kept under the Income - Act, 1961?
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A House property is sold for a consolidated value of Rs.1 Crore along with furniture. Value for the purpose of stamp duty of the house property is 95 lakhs & furniture for Rs.5 Lakhs was mentioned separately in the agreement. What will be the treatment of Rs.1 Crore receipt for computing Capital gain on house property sale? Value of furniture being personal asset whether liable to tax or not?
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I am interested in seeing the assessment records of certain third parties. Can I call for the same under the Right to Information Act?
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We have two factories, one at Bombay and the other at Delhi. The factory at Bombay is operational. However, the factory at Delhi has been shut for two years with no activity. Are we entitled to claim depreciation on the assets installed there?
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A flat owner in a co-operative housing society has decided to sell the flat to a third party. As per the bye-laws No. 38 and section 38(e)(ix)of the Cooperative Housing Society, i.e., Notice of transfer of shares and interest in the capital/property of the Society, the Society cannot demand any transfer fees more than Rs.25,000. There is also Circular issued on 9th August, 2001 by the Government in respect of transfer fee by which the transfer fee of the immovable property within the Corporation limit is fixed as Rs.25,000. The said circular is still in force. The flat owner is…
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What is the new procedure for Registration of charitable Trust ?