(Income Tax Appellate Tribunal, Mumbai) ITA No. 4598/Mum/2019 | 22-03-2021 SUB: INCOME FROM UNSOLD FLATS SHALL BE TREATED AS BUSINESS INCOME OF THE DEVELOPER AND NO INCOME FROM HOUSE PROPERTY ON THE BASIS OF ANNUAL LETTING VALUE OR NOTIONAL VALUE OF RENT. FACT OF THE CASE The assessee...
In our earlier articleTax : Income From House Propertywe had given an overview of how to calculate Income From House Property. In this article we shall consider the case of one house for self-occupied purpose i.e being used by the owner for residences and no other property. It gives an ...
Interest penalty fordelay in filingan income tax returnwith tax due if any tax is due comes under Section 234A.As per the Income Tax Act, if you have any outstanding tax payable at the end of a Financial Year (FY), you must pay the balance tax amount and file your income tax returns...
those in need, etc., it is moreoften than not abused (I deserve it, why should I have to work hard the gov’t can take care of me-I’ve paid my dues, etc) and at the expense of hardworking legitimate tax payers. And
My ward is 34(1)(5), Mumbai Range code is 346 AO is 5 What could be the correspondence address to make them a letter for wrongly filled IT e-form (Refund issue). Reply Basavaraj Tonagatti March 3, 2016 at 12:14 PM Karmajeet-It will be available on IT Portal. ...
India could have the third-largest number of high-income households after the United States and China, and Mumbai is likely to be the fourth-ranked city in Asia for such households.13 Looking next at upper-middle-income households, Asia's sha...
Dalton is in the process of opening up an office in Mumbai (regulatory license pending). Dalton follows a disciplined value investment process to identify good businesses trading at a significant discount to intrinsic value and...
Question 49: I am a real estate developer registered in Delhi. I have a sales office in Mumbai, Chennai and Kolkata. Do I need to take registration in Maharashtra, Tamil Nadu and West Bengal? Answer:yes as the sales office will be treated as distinct entity providing service to the regist...
This is subject to there being no subsequent enquiry under corporation tax self-assessment. In the opinion of the Directors, the Company has conducted its affairs so that it continues to qualify. The Company's shares are ...
Do I need to show Exempt Income in my tax return? Even though these are tax-free, all exempt incomes must be mentioned in the tax return. Ignore this at your peril. For AY 2019-20(FY 2018-19) in ITR-1, tax-exempt incomes have to be reported in the tab, ‘Computation of income ...