In capital gain account only capital gain to be deposited or entire amount in sale deed to be deposited ...can I re pay home loan capital amount from sale of property amount and will it be treated as re investment of capital gains ..I need some clarification ...1. is opening of capital gain account for property compulsary . 2 I purchased plot in Pune in 2010 for 1.2 lakh , how much is capital gain if sold now for 23.lakhs approximate ..3 I purchased flat in Pune in 2011 for 16.38 lakhs , if sold now for 30 lakhs now , how much will be capital gain .4 till what time it has to be re invested ..if not till that time how much tax to be paid .

Kindly let me know whether the standard deduction under the old tax regime is Rs.50000/= and under the new tax regime is Rs. 75000/= for the assessment year 2025-26. Excuse me for the trouble caused. Regards

A sister wants to transfer amount rs 15 lac to her minor brother for study
Is there any problem in income tax or not

Fact of the Case:-
E-Commerce operator (Flipkart) selling goods to a company more than 10 Cr in a year by using digital platform. Flipkart make payment to company after deduct all the expenses and commission and also TDS Deduct by Flipkart on the above transaction u/s 194O.

And Flipkart raised commission invoice to the company against sales, Then Company liable to Deduct TDS u/s-94H on commission invoice.
Now Flipkart object on TDS deduction u/s 94H which is deduct by the company against commission invoice.
So please advice the correct procedure.

Out of 4 partners 1 partner retire from firm and withdraw his capital from firm,revaluation of assets and liability required

Since due date is extended upto 31st January,2024 and assessee need to pay 100% of tax amount instead of 110%, so in form of DTVSV there is option to pay tax after 31.12.2024 in which we need to fill tax demand at 110%? Income tax department consider 31.12.2024 as 31.01.2025 ?

Dear Sir / Madam,

My query is as follows:

Mr A sold his flat on 10-03-2023 and invested the capital gain of Rs. 47 lakhs in new flat with MNP developers before the due date of filing the return for FY 2022-23. Mr A deducted TDS of Rs. 47000/- on Rs. 47 lakhs paid to MNP developers.
However after six months, on the dispute with MNP developers on the allotment of an identified flat, MNP developers cancelled the agreement and returned the money to Mr. A.
After that Mr A booked a new flat with XYZ developers and paid Rs. 1.30 crores to XYZ developers. XYZ developers issued the receipts with an identified flat number. However, TDS was not deducted at that time.

Q1: Is Mr A still eligible for investment of capital gain on sale of earlier flat as his agreement got cancelled but then he booked with new developer?

Further XYZ developers deposited Rs. 1.30 crores in their bank account NOT registered under MAHARERA. Now in August 2024, XYZ developers returned Rs. 1.30 crores in his bank account and asked Mr A to pay them afresh. Then XYZ developers deposited this Rs. 1.30 crore in the Bank account registered under MAHARERA. Now TDS of Rs. 130,000/- is paid and deposited.

Q2: Will this affect Mr A's position of claiming the exemption of LTCG ?

Q3: Also tell me any other aspect to be looked into.

Please guide.

Thanks & Regards,
Suraj

Dear Experts,
Im trying to file belated ITR FY 23-24 now. But return validation throws an error saying "Due date for filing return u/s 139 (4)/(5) is over" Please help to resolve this.

I was in US and became a US resident during Jan, 2024 - Dec 2024. I will be leaving US in February, 2025 and will be a NRI in India for FY 24-25. I will be a non resident in USA as well in Jan 2025 - Dec 2025. My questions are -

1. During Jan - Feb 2025 , My taxes from salary will be deducted in USA. Do i need to pay tax in India as well on the foreign income?
2. Will i be a NRI or RNOR if i spent 54 days in India in FY 24-25? My income in india is less than 3 lakh. Does non residency in Jan - March effect my residency in India?

this is software related for tds 27q rpu utility.
while filing up 27q RPU VIA PROTEAN NSDL UTILITY, there is a column named nature of remittance
where there is a drop down with 13 options (out of which 4 are starting with words LONG TERM (after long term, its not visible).
i want is long term cap. gain on sale of property.

(drop down list is too small, so cant read after words long term .

anyone knows? which long term option to select? even if i hover mouse over it, i cant read the words after LONG TERM.

i want long term capital gain on property