Recent Posts

Recent Posts

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Discussion / TDS CREDIT
« Last post by vsaiyar on May 11, 2016, 10:34:50 pm »
Discretionary Trust - Income distributed to the beneficiaries.  Tax deducted from the income of the trust.  The distributed income is taxable in the hands of the beneficiaries.  TDS in the name of the trust.  No taxable income shown in the name of trust.  Hence no credit to trust.  Since the TDS is in name of Trust no credit to the beneficiaries of the trust of the TDS.  In such circumstances how to get refund of the taxes paid by way of TDS.
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Discussion / Re: Deduction u/s 54
« Last post by camanoj2104 on April 28, 2016, 08:56:28 pm »
DEDUCTION ALLOWABLE EVEN IF BORROWED FUNDS ARE USED
CA MANOJ GUPTA
JODHPUR
09828510543
3
Discussion / Re: corpus donation
« Last post by camanoj2104 on April 28, 2016, 08:38:43 pm »
IF U FILE ITR 7 THE CPC WILL LEVY TAX ON MMR ON THE ENTIRE CORPUS DONATION
CA MANOJ GUPTA
JODHPUR
09828510543
4
Discussion / Re: deduction of Interest on unsecured loan u/s 24b
« Last post by camanoj2104 on April 28, 2016, 08:37:38 pm »
section 24(b) talks of interest on borrowed capital only. Is does not talks about from where to borrow so u will get deduction .
CA MANOJ GUPTA
JODHPUR
09828510543
5
Discussion / Re: corpus donation
« Last post by Shubham Gupta on March 17, 2016, 01:11:23 pm »
please as the matter is urgent for me
can anyone help me out..... ?????
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Discussion / corpus donation
« Last post by Shubham Gupta on March 17, 2016, 01:09:02 pm »
please if any member can help me
i've got a case in which a institution not registered u/s 12 has received a corpus donation of Rs. 50,00,000
the institution is also not attracting section 10(23)(c)
what will be the tax calculation
is there any way by which we can save the tax...???
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Discussion / Good news for professionals
« Last post by brettlee on February 29, 2016, 05:51:31 pm »
Professional having receipts up to 50 lakhs can opt for presumptive taxation and there is no need for maintaining tedious books of accounts. This insertion is impact of Justice Eswar Committee report.
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Discussion / deduction of Interest on unsecured loan u/s 24b
« Last post by priyankargada on February 29, 2016, 04:19:49 pm »
Hello all,

I have borrowed funds from my sister to acquire a commercial property which was subsequently rented out. Can i get the deduction u/s 24b for the interest paid to her? if yes, is there a judgement supporting the same?
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Discussion / s.203(3) amendment w.e.f. 1/10/14
« Last post by rajul5234 on February 19, 2016, 01:23:14 pm »
Gujarat high court. SCA 1623 / 2015. Dt. 5/2/16. Tata teleservices and others

Held, s. 203(3) amended by Finance No. 2 Act w.e.f. 1/10/14 is NOT retrospective in nature.

R K Patel
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Discussion / Deduction u/s 54
« Last post by kinjalpandyaca on February 13, 2016, 05:56:36 pm »
Sale of residences House Long term capital gain arise.
For deduction u/s 54 purchase new residence house by borrowed fund only than deduction allow?
 
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