Respected Colleagues,
One of my known NRI , now UK citizen having property in india earned rental and filing ITR under income from house property under NRI Status,
Now my first ques is, if same person sold residential property and then reinvest in residential property as per sec 54 of IT act is eligible to claim benefit of sec 54 to exempt capital gains?
Second ques is, if same person without reinvest in property repatriate funds to foreign after payment capital gain tax, then how much % of tax on cap gains with surcharge & HEC?
Third ques is, if person earned income from rental and gains from property sale in india (Already disclose in Indian ITR), then Is he also liable to add income in UK ITR to compute taxes and treat his income from india as per treaty between the countries?

Regards

Since which date Late fee u/s 234E for late filing of etds returns is applicable ?
Is there any circular to that effect ?

My wife is a senior citizen. Her income is as below -

LTCG 210000
STCG. 10000
Income from other sources 190000

Exemption as below -
80C 120000
80TTB 30000

Is she eligible to submit 15H?

1) if assessee required to get their books of account audited u/s 44AB, Can we opt 44AD for F&O transaction if nature of business is whole sale and retail trade?
2) In case of net loss (Sale amount - buy amount) in F&O transaction, then 44AD will be applicable?

1) if assessee required to get their books of account audited u/s 44AB, Can we opt 44AD for F&O transaction if nature of business is whole sale and retail trade?
2) In case of net loss (Sale amount - buy amount) in F&O transaction, then 44AD will be applicable?

Delivery,
Future and Options,
Intraday and
Equity.
and
CTT rate also

Agricultural Property was converted in to Non Agricultural Plots and sold piece meal plots to different buyers
In FY 23-24 out of total some part was sold and balance remains as stock
Cost of Property value Rs.1.34CR
Property value at the time of N.A Rs.1.96 CR for 12181 sq Feet
Sale value as per agreements Rs.61 L for 1812 sq feet

In the above case my question is
1) How to show this in income tax return and how much will be capital gains and business profit if both are attracted.
2) What sale amount to be shown in capital gains schedule
3) What amount and how to be shown under business profits

Due to mistake in Interest Calculation in Return CPC GENERATE Refund and Income Tax return was invalidated

The property was sold by asessee during the current year FY 2024-25 after selling the property assessee died during 3 months. to take benefit of exemption u/s 54 in whose name investment is to be made in another house and also how to file the IT return for AY 2025-26.

We have taken service of antivirus software for the period one year for our main computer server.
Is tds applicable, if yes which section whether 194 C or 194 J professional / royalty or technical.

Please advice