COMPUTATION OF CAPITAL GAIN IN CERTAIN CASES 1. Section 51 – Advance Money Received 2. Section 50D- Fair Market Value deemed to be full value of consideration in certain cases 3. Section 50B – Special provision for computation of capital gains in case of Slump Sale SECTION 51 – ADVANCE MONEY RECEIVED
When the transaction involves transfer of capital asset then it will constitute capital gain, whereas transaction which is entered into normal course of business shall constitute business income. We will see some Practical Issues regarding this topic….
First we should know who can become Karta and what is powers of Karta.The Karta is the manager of HUF and have wide powers by way of controlling the affairs of the HUF. The Karta enjoys his position in the HUF by operation of law without any agreement and consent of other members of HUF. […]
Various issues about TDS U/s. 193, 194, 194A, 194B, 194BB, 194D, 194E, 194EE, 194G, 194LA, 194LB, 194LC Q.1. Whether assessee liable to deduct TDS u/s 193 on provision of interest in case payee is not identified. Ans. Explanation to section 193 cannot be invoked in a case where person who is to receive interest cannot […]
TDS on Fees For Professional Or Technical Services-Section 194J Let See list few Questionare which can defintely improve our study on TDS on fees for professional or technical services under section 194 J of Income tax act 1961 Q.1. Who is liable to deduct TDS u/s 194J?
HUF is beneficial to those peoples who wants to save tax through creation of HUF .following are the ways by one can save by creation of HUF .But till now many people are very confused about the way to create the huf ,Here are the many ways to create huf.
1. What is annual e-TDS/TCS Return? Annual e-TDS/TCS return is the TDS return under section 206 of the Income Tax Act (prepared in Form Nos. 24, 26 or 27) or TCS return under section 206C of the Income Tax Act (prepared in Form No. 27E), which is prepared in electronic media as per prescribed data […]