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Transfer pricing

Direct Taxation

answered on 01-Apr-24 11:47

In the attached question,for omputing ebitda u/s.94b, shall we include TP adjustment or not. If I included TP, ebitda is 20.5 otherwise 18. Which is correct?

latest answer

We will include generally.

karthick raja

karthick raja

CA Final

3K+

1

56

Normal Loss under Income From Other Sources - Carry Forward Period

Direct Taxation

answered on 01-Apr-24 11:48

Hi sir, hope you're well. Under Income From Other Sources, carry forward period for owning and maintain racehorses is up to 4 AYs. Loss from casual income can't be setoff/ carried forward. What is the carry forward period for normal loss in this head please? Thanks

latest answer

Loss from other sources cannot be carried forward.

Devaprasad Jothimani

Devaprasad Jothimani

CA Inter

0

2

56

what about additional depreciation

Direct Taxation

answered on 01-Apr-24 11:21

additional depreciation has to be given for purchase of new machinery is that correct or not please explain

latest answer

Yes it is allowed.

Angry Toshniwal

Angry Toshniwal

CA Inter

505

3

50

Section 194 Q and 206C (1)

Direct Taxation

answered on 01-Apr-24 11:48

The company made scrap sale but purchaser deduct TDS u/s 194 Q then whether the company Collect TCS or not u/s 206C (1)

latest answer

TCS.

CA Tamil

CA Tamil

CA Final

2K+

8

87

Difference between Stake Money and Betting Gains

Direct Taxation

answered on 25-Mar-24 12:15

Hi sir, hope you're well. In your example for race horses, what is the difference between stake money and betting gains? I'm unable to understand the difference between the two. Thanks

latest answer

Stake money means the gross amount of prize money received in a horse race by the owner

Devaprasad Jothimani

Devaprasad Jothimani

CA Inter

0

2

53

CG tax for NR

Direct Taxation

answered on 25-Mar-24 12:19

First proviso to sec 48 read with rule 115 A - is this applicable to unlisted securities ?

latest answer

Yes it is applicable. But if they are paying tax @10% then they cannot claim foreign exchange fluctuation benefit.

Mansha Tutlani

Mansha Tutlani

CA Final

555

1

42

Capital gain

Direct Taxation

answered on 25-Mar-24 12:19

Can anyone please explain this

latest answer

Utilise the unutilised the basic exemption limit, you will get the answer.

Naina Bhojwani

Naina Bhojwani

CA Inter

5K+

1

56

Doubt

Direct Taxation

answered 1 day ago

Mr. Ashutosh, aged 65 years and a resident in India, has a total income of ₹ 3,20,00,000, comprising long term capital gain taxable under section 112 of ₹ 57,00,000, long term capital gains taxable under section 112A of ₹ 65,00,000 and other income of ₹ 1,98,00,000. What would be his tax liability for A.Y. 2024-25. Assume that Mr. Ashutosh has not opted for the provisions of section 115BAC. (a) ₹ 90,05,880 (b) ₹ 97,25,690 (c) ₹ 97,34,400 (d) ₹ 97,22,440

latest answer

Kindly share your working.

Krisha Modi

Krisha Modi

CA Inter

0

6

99

House property deduction

Direct Taxation

answered on 25-Mar-24 12:28

If A and his wife has house in there both name and loan is also in both name but payment is made by only A . The ratio of ownership is not defined in that case can I take deduction in whatever ratio I want and not 50:50

latest answer

Not allowed. It must be mentioned in property document and loan agreement.

Hrishikesh Pradhan

Hrishikesh Pradhan

CA Final

2K+

6

66

NOT OPTED FOR 115BAA

Direct Taxation

answered on 22-Mar-24 18:04

can anyone tell me the answer and calculation.

latest answer

Perfect.

Sai Kiran

Sai Kiran

CA Inter

4K+

5

85

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