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Taxation of trust.

Direct Taxation

answered on 15-Apr-24 14:52

Sir, in the calculation of anonymous donations to be part of normal income, whether such TOTAL Donations include grant received from government?

latest answer

It is practically taken into account.

manideep martha

manideep martha

CA Final

10K+

3

63

Capital gain in q2 pgbp

Direct Taxation

answered on 08-Apr-24 09:34

Cost of 2 machines =385000( (77000/4)*2) Sales amnt = 10,00,000 Capital gain=615000. This was my calculation. Bt this ansr is different. Kindly advice me . I didn't get the logic.

latest answer

Capital gain would come only when block becomes empty or WDV becomes negative.

1 Minute Review

1 Minute Review

CA Inter

405

1

51

Deduction

Direct Taxation

answered on 08-Apr-24 09:32

A sum of 20000 donated in cash for scientific research under Section 80GGA . Is deduction allowed?

latest answer

This option is given based on the most suitable option.

Lavi Lavanya

Lavi Lavanya

CA Inter

6K+

6

64

TDS QUARTERLY RETURN

Direct Taxation

answered on 08-Apr-24 09:40

What’s the due date? Is this correct?

latest answer

Yes it is. It is due date for TDS return.

Swetha S

Swetha S

CA Inter

3K+

2

70

interest paid to partner current a/c

Direct Taxation

answered on 31-Mar-24 23:25

what is the treatment for interest paid to partners current a/c is it fully allowed or not.

latest answer

As per Income Tax, maximum interest that can be paid to partners is only 12 percent

ashwaq shariff

ashwaq shariff

CA Inter

2K+

1

42

Doubt

Direct Taxation

answered on 31-Mar-24 23:26

Mr. Sunil has filed his return of loss for A.Y. 2024-25 on 31.7.2024 and received a total refund of ₹ 44,500. On 15.9.2024, he would like to furnish his updated return of income for additional income. In case he furnished his updated return of income for additional income, he would be liable to pay ₹ 57,000 towards tax and ₹ 6,700 towards interest for additional income to be reported in updated return. Compute the additional income-tax payable by Mr. Sunil at the time of filing his updated return. (RTP Nov ‘23) (a) ₹ 27,050 (b) ₹ 15,925 (c) ₹ 14,250 (d) ₹ 31,850

latest answer

Amount he is liable to pay and refund already claimed. Total *25 percent

Krisha Modi

Krisha Modi

CA Inter

0

1

94

order

Direct Taxation

answered on 01-Apr-24 11:45

Can i watch capital gains, ifos videos first instead of pgbp (No knowledge on pgbp )

latest answer

Yes you can.

Sri ram Pothineni

Sri ram Pothineni

CA Inter

11K+

3

112

Residential status

Direct Taxation

answered on 01-Apr-24 11:45

I got the answer as 211 whereas the actual answer is 213 can anyone tell me how ?

latest answer

Day of coming and day of leaving is always included. Consider accordingly.

Divinne Fiona

Divinne Fiona

CA Inter

9K+

2

69

80RRB - Portion of Royalty Patents which are Deductible

Direct Taxation

answered on 01-Apr-24 11:46

Hi sir, hope you're well. For 80QQB, the amount of deduction is net income from book patents; Gross Royalty Income - Expenses Related to such Royalty. Is this the case for 80RRB also? Or is the Gross Royalty Income directly taxed? Thanks

latest answer

Law is silent but it is same as 80QQB.

Devaprasad Jothimani

Devaprasad Jothimani

CA Inter

0

1

56

80GGB and 80GGC - Contribution to Local Authority & AJP funded by Govt.

Direct Taxation

answered on 01-Apr-24 11:47

Hi sir, hope you're well. Contribution to Local Authority & AJP funded by Govt., is not allowed as deduction u/s 80GGC. However, would such deduction be allowed u/s 80GGB if Indian company gives? Since no such provision is present in 80GGB Thanks

latest answer

80GGB is applicable only when it is contributed by Company.

Devaprasad Jothimani

Devaprasad Jothimani

CA Inter

0

1

57

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