Hi,

I purchased a property in June 2021. It became a long term asset in June 2023. I want to sell it in FY 24-25. As it is purchased before 23 Jul 2024, I get the option to choose taxation as per new rate of 12.5% without indexation or old tax of 20% with indexation. In calculations, I realize that going with new tax is beneficial if i have to go with paying tax, but I want to reinvest the capital gain in purchasing a new property.

A) Am I eligible to reinvest under section 54?

B) If I am taking exemption under section 54, the long term capital gain being reinvested will be as per indexed COA or non-indexed COA ?

Thanks in Advance.

I have received a Demand in DRC 07 for ITC claimed for Inputs purchased on January 2020. But the GSTR 3B for the month of January 2020 was filed on December 2020. Since it was claimed after September 2020. Can I claim relief Under Section 16 Subsection (5) now or will I have to wait for the notification for the same to be released.

Hi Experts ,

Can my father sublease home owned by him to my mother who does not have any income, and thereby save on tax. Effectively, he will collect a smaller amount(For ex 5k) as rent ?
And then ,my mother sub leases to me at a premium and records as income from other sources while my father will pay tax on the nominal rent from my mother.

a. Can I claim HRA for paying rent to my mother?
b. Can I pay rent for whole year in one go and claim HRA? or it should be paid monthly basis?
c. Is there any potential issue if all of it is declared and filed?

My client, an NRI, is selling a property ( land) now. He is occupying a flat and the agreement for construction with the builder was entered in Aug 2022; but the sale deed has not been registered yet . Entire price of the property is paid.

My doubt is, if he register the sale deed now, can he claim 54F benefit ?

Pls help

Sir i need a letter for termination of articleship due to discontinance of cource, i was a direct entry student and already done 2 years of articleship under old scheme but i need to move out of this because it seems like very tough for me so i am dropping this couce.

I want to surrender my cop through SSP Portal.
Which documents should I upload in "upload any document section."
Whether I have to surrender my cop in physical form, if yes than at which address.

Dear Sir

I have sold my old car and the value is less than the written down value . Whether GST is applicable on this and if I have deduct TCS on this.

Thanks

A husband wants to gift Rs.20 Lakhs to his wife to purchase a property in its wife's name....what are the tax implications?

We have recently constructed our new business building and held Electricity Connection, Inspection, Testing & Verification at new building Which is amounted total 280000 without GST.
Which Section of TDS should be apply and with how much rate to be applied ?

I paid an initial amount of 30% of the flat cost towards purchase of an underconstruction house in Mumbai in January 2021 (Registration - April 2021), the possession of which was promised in 2026. The construcion was stopped due to Covid and delays in permissions. The construction and restarted and new possession date is now November 2029.

If I sell my mutal fund holdings in September 2024, and pay the entire amount from the sale of my units (i.e initial invested capital plus the gains = net proceeds) towards installment for the demand that is triggered in September 2024, can I avail of the capital gains benefit under section 54F?