Gifts made - the assessee was absolute owner of NDAW upto ...

Income Tax

October 27, 2015

Gifts made - the assessee was absolute owner of NDAW upto 24/07/2007 and transferred his 51% shares to RBE and then made the gift to NDAW, in which he still holds 49% stakes, thus, the transfer is covered by exclusion clause u/s 47(XIV) of the Act, consequently, is liable to Gift Tax - AT

View Source

← Previous Next →

Gifts made - the assessee was absolute owner of NDAW upto ...

Income Tax

October 27, 2015

You may also like:

Computation of LTCG - extinguishment of the owner’s rights in the property - Transfer u/s 2(47) - year of assessment - claim of exemption u/s. 54 - the owner’s right to...

Small service provider - exemption upto 10 lakhs - Renting out of immovable joint property – Exemption to each owner or jointly - prima facie each owner is eligible for...

Rule 24 - Migration of persons registered under the existing law - Date of surrender of GST registration where not required extended upto 30-09-2017

Prior period expenditure - recognition on the basis of finalization of negotiations - deduction is not permissible in assessment year 2007-08, but, it is permissible in...

Addition in view of the Provisions of section 50C on the Gift of Plots - Transfer of property by a Company as a gift - AO concluded how the gift by one company to other...

RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the...

Deduction on interest of housing loan u/s 24(b) -AO restricted it to 25% since 75% of the property is belongs to other co-owners - Action of AO is justified - AT

Capital gain – transfer of property where title is not absolute and clear - section 2(47)(v) - the assessee is liable to pay the capital gain tax during the year under...

Unexplained gifts – Donee denied to make gifts – transaction is not genuine but colorable – money is routed indirectly from the firm to the assessee's account under...

Works Contract - Levy of service tax - The Tribunal had rightly set aside the service tax demand upto 30.5.2017 and confirmed the same from 1.6.2007 onwards.

Quick Updates: