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43b(h)

Direct Taxation

answered 1 day ago

Dear sir I have a doubt in this section, this section earlier deals with actual payment allowance. but what is the amendment in this section. As per my understanding now also it talks about allowance on actual payment. Now Dey are saying if u don't pay to msme ur exp will be disallowed. What is new in this .old section also implies the same na sir meaning if u don't pay u won't get allowance

latest answer

Payment to MSME was not covered earlier in 43B but now it is covered

Kiran Vijay

Kiran Vijay

CA Final

4K+

1

26

Depreciation for building under construction

Direct Taxation

answered 16 hrs ago

I can't understand this paragraph

latest answer

If any capital improvements are done on residential building then we can claim depreciation to that extent even though we are not owner of the building.

Guru Raja Prabhu L

Guru Raja Prabhu L

CA Inter

390

1

33

Sec 194 C

Direct Taxation

answered 16 hrs ago

In this case , let's say I purchased gas value is 1L and if seller says he will not deliver at my place, now contract of sale is completed. But if seller agrees to deliver at extra amount of 10k for transportation, and it's charged in the same bill, ( here instead of 3rd party transporter, we are taking transport service from seller by paying extra ) Do we need to deduct TDS or not ?

latest answer

IF we bifurcate the contract itself then TDS will apply on the transportation charges. You have to get the essence of that particular point.

Enuguru Sai Nithin

Enuguru Sai Nithin

CA Final

78K+

1

45

Sec 269SS

Direct Taxation

answered 15 hrs ago

Here, advance refers to transfer of immovable property? or any other?

latest answer

Section 269SS covers only immovable property - “specified sum” means any sum of money receivable, whether as advance or otherwise, in relation to transfer of an immovable property, whether or not the transfer takes place.

Bumble Bee

Bumble Bee

CA Final

3K+

3

47

Residential status and scope of total income chapter

Direct Taxation

answered 14 hrs ago

Sir in the last video 36 in that sum why are u made a deduction 80tta for ror.. This sec is only for non resident then y r u taking the amount for Leena. Leena is ror

latest answer

Thank u sir

dhivya annam

dhivya annam

CA Inter

220

3

41

Income from other source

Direct Taxation

answered 16 hrs ago

Compensation or any other payment received in connection with termination of his employment or modification of the terms and conditions relating to employment is taxable under "Income from other sources "or"Income from Salaries"?

latest answer

Ideally it should be taxed under salaries. This point is covered in Section 17(3) as profits in lieu of salary and also covered in Section 56(2)(xi) under Income from Other Sources.

Ibrahim Abdulla

Ibrahim Abdulla

CA Inter

3K+

1

36

IFHP/Total income

Direct Taxation

answered on 19-Feb-24 15:55

If rental income from let out property is given then we have to deduct, 30% std. Deduction or it's already been deducted???

latest answer

If rental income is given then we need to deduct standard deduction @30% as per Section 24(a).

Nikhil Tiwari

Nikhil Tiwari

CA Inter

11K+

2

45

Composition levy scheme

Direct Taxation

answered on 19-Feb-24 15:52

If the person in fy is a composition levy scheme tax payer but in fy itself that persons turnover limit exceeds.... Then what are the after effects!!

latest answer

Once he exceeds the limit, he should pay normal tax rate and issue tax invoices. Further, he can claim ITC on the stock.

07- Issac Jolly-XII C

07- Issac Jolly-XII C

CA Inter

70

4

59

setoff and carryforward

Direct Taxation

answered on 17-Feb-24 12:15

can Life insurance premium paid is set off in any head off income ?

latest answer

Its under deduction 80C

Vijay Ajith

Vijay Ajith

CA Inter

380

1

46

Assessment procedure & Appeals

Direct Taxation

answered on 18-Feb-24 10:38

Let's go in-depth in this topic and make it a cup of tea. I'm very passionate on this topic and working practically in a CA Firm as well

latest answer

Kindly send me an email on TSHIVATEJA@GMAIL.COM Let's talk in detail.

Sandeep

Sandeep

CA Final

540

1

43

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