1. Facts of the Case Mr. X, an assessee, estimated his tax liability at ₹25,000 for the Financial Year 2015–16 (Assessment Year 2016–17) and intended […]
Author: Sunny Shettipalli
![7. ‘A’ an Assessee, is a partner in a firm created a trust. By a settlement deed he assigned his profits of ten percent [right, title, interest (excluding capital] in the firm to the trust. He claimed his income transferred to trust as diversion of income. Is he legally justified?](http://lawgnan.in/wp-content/uploads/2025/07/Untitled-design-2025-07-12T162233.079.png)
7. ‘A’ an Assessee, is a partner in a firm created a trust. By a settlement deed he assigned his profits of ten percent [right, title, interest (excluding capital] in the firm to the trust. He claimed his income transferred to trust as diversion of income. Is he legally justified?
1. Facts of the Case Mr. A, an individual assessee, is a partner in a firm. Through a settlement deed, he has created a trust […]
5. Shyam, a partner of a firm constitutes a partnership with his two sons and a daughter with his share in the main partnership. Shyam is separated from his wife and is paying maintenance to her. What is his tax liability on the income earned from the main partnership and the amount?
1. Facts of the Case Mr. Shyam is a partner in a main partnership firm. He has entered into a sub-partnership with his two sons […]
2. A, while travelling in TSRTC bus, meets with an accident and is temporarily disabled. TSRTC pays an amount of Rs. 10,000 as compensation to him. State whether the amount is revenue receipt or capital receipt.
1. Facts of the Case Mr. A, an ordinary resident of Telangana, was travelling as a passenger on a TSRTC (Telangana State Road Transport Corporation) […]
28. Explain the scheme of taxation of estimated income U/s 44AD. 44 ADA & 44AE of Income Tax Act
To reduce the compliance burden for small taxpayers, the Income Tax Act, 1961 offers a Presumptive Taxation Scheme under Sections 44AD, 44ADA, and 44AE. These […]
27. What are the various deductions allowed under the head salaries and income from house property
Under the Income Tax Act, 1961, individuals earning income from salary or house property are eligible to claim various deductions that help reduce their taxable […]
26. a )Failure to furnish returns under section 271? b) Failure to pay Advance Tax?
Tax compliance is a crucial responsibility of every citizen and business entity in India. The Income Tax Act, 1961 outlines not only how income should […]
23. Explain the importance of place of supply under GST and SGST.
The Goods and Services Tax (GST) introduced a unified indirect tax regime in India, replacing a multitude of central and state taxes. Under this system, […]
21. Define income and explain the concept of Income tax.
The Income Tax Act, 1961 is the cornerstone of India’s direct taxation system. It lays out the legal framework for the collection of taxes on […]
18. Give a detailed note on procedure of Registration under GST Act, 2017.
The Goods and Services Tax (GST) Act, 2017 revolutionized India’s indirect tax system by introducing a single unified tax regime. A crucial part of compliance […]