AMT

answered on 19-Jun-24 08:54

Can someone say me AMT is in which chapter of tax

latest answer

Refer to Agricultutural Income & total income chapters

Sushmita Chowdhury

CA Inter

★ 715

16

172

Head income

answered on 19-Jun-24 17:23

compute the total depreciation allowance for the year ending 31.3.2024: a. original cost of motor car as on 31.3.2023 ‹ 12,00,000. depreciation allowed up to 31.3.2023 ₴ 3,00,000. addition made during the year on 5.12.2023 ₴ 3,00,000. sale during the year: original cost 2 15,00,000; depreciation charged upto 31.8.2023 € 37,500; selling price & 2,00,000. rate of depreciation is 15%.

latest answer

Compute depreciation as under: Opening WDV + Asset purchased - Asset sold. On closing WDV compute the depreciation.

Saurbh

CMA Inter

★ 0

1

110

PGBP

answered on 08-Jun-24 18:30

Is donation to trade association a deductible expenditure under PGBP ?

latest answer

No it is not. If it is membership fee then Yes.

Mainak Chakraborty

CA Inter

★ 0

1

84

capital gains

answered on 08-Jun-24 18:29

If in the question they haven't mentioned anything about whether STT is paid or not, then what should we assume to proceed the question of capital gains?

latest answer

Not paid. Question must specify that STT is paid.

Niveta Rajkumar

CA Inter

★ 1K+

2

92

About Commission

answered on 05-Jun-24 09:09

If commission given at per annum based Then we can calculate it for 7 months or Total commission for RFA?

latest answer

It is taken for 7 months

Shivashankar Jawai

CA Inter

★ 650

1

80

Capital gain under sec 54 exemption

answered on 08-Jun-24 18:31

My qt is, 1.Mr A sold one residential unit and purchased one farm land including saplings ,now Mr A constructing one residential unit in that land. Now , Should i consider saplings cost in cost of acquisition of land (In purchase deed land and saplings cost mentioned separately) 2.Wt if saplings are destroyed to construct residential unit.

latest answer

It is not considered. Saplings cost is not considered.

VV shetty

CA Inter

★ 5K+

1

100

Income Tax under Old Regime

answered on 03-Jun-24 16:37

Rohit earns monthly salary of ₹1,75,000. What is his tax liability if he has not opted for section 115 BAC for the assessment year 2024-25? (A) ₹4,44,600 B) ₹4,60,200 (C) ₹3,82,200 (D) ₹3,66,600

latest answer

Thank You Sir

Nikita Lakhotia

CA Final

★ 0

13

178

Capital Gains

answered on 08-Jun-24 18:30

Under SEC 54 EC investment in EcoPower Ventures bond considered?

latest answer

Power Finance Corporation Limited is covered.

Niveta Rajkumar

CA Inter

★ 1K+

1

97

Reimbursement of expenses on COVID treatment

answered on 29-May-24 13:51

Employer reimbursed expenses on Nov 2023 for the COVID treatment undergone by employee on March 2021 of rs.64000 Whether such 64000 is exempted as per sec 17(2)?

latest answer

Welcome.

Sajeetha R

CA Final

★ 45K+

3

87

Income Tax on NRI A/C

answered on 29-May-24 12:34

Dear Sir, A person who is employed outside India and he is sending his salary from out side India to his NRI a/c in India. If I am not wrong this income is accrued out side India but RECEIVED in India. Then why is it not being taxed in Inia sir. ? Please guide me sir.

latest answer

In case of receipt, we look at the first receipt. Subsequent receipt is known as remittance.

Thankachan Jimmy

CMA Inter

★ 0

3

87