Sir/Madam

I have foll. query regarding new housing loan-

I have to buy one Bungalow which details as follows-

> Cost of Bungalow is of Rs.75,00,000
> Housing Loan sanction is of Rs.70,00,000/-
> Sales Deed of Rs.49,00,000/-
> Property Valuation of Rs.85,00,000/-

Bank will pay to the seller of Rs.49,00,000/- and different amount of Rs.21,00,000/- in my saving bank account.

1) My question is that how i will to seller diff. amount by Cheque or Cash.
2) What is the sales consideration for Seller for capital gain working Rs.49 lacs or 70 lacs?
3) if seller not accept cheque then what is the solution?

Sir,
A resident individual intends to send under Liberalized Scheme an amount of
Rs Seven Lacs approx to his daughter-in-law (Son's wife ) who is NRI and is employed abroad. Hence following queries :-
1. Is ' Daughter-in-law ' as a recipient , covered under the definition of ' Close Relatives ' for purpose of sending money abroad to her .
2. Can it be classified as- for purpose of ' Maintenance ' OR it has to categorized as a ' Gift ' while filling form at remitter bank's counter. ?
3 Is there different rule / limit applicable when sent for ' Maintenance purpose ' or for 'Gift purpose ' ?
4. Is it exempted under both situations of ( maintenance or gift ) and is covered under definition of ' Gift from Relative ' and will not attract any ITax .?
5. Can it be sent directly from resident saving a/c to NRI 's foreign bank abroad thru wire transfer . ?
6. Is there compulsory rule to transfer this amount to NRO a/c of daughter-in-law if it is an ' exempted gift ' .?

Pls guide on above pointwise .

Assessee has declared gross receipts of Rs. 29. 95 crores whereas in 26as gross receipts shown is Rs. 21.55 crores on which TDS has been deducted u/s 194Q of Rs. 2.15 lakhs.

in 26as cash withdrawal entries for Rs, 11.80 crores are shown under section 194N on which no tds has been deducted as the assessee is APMC agent.

Department has considered cash withdrawal as income and made itr defective
15 days time is already lapsed.
what remedy is available?

Respecting Sir/Madam,
is there any limit for amount transfer to others bank account Rs.2,00,000. through RTGS/NEFT/IMPS as a single payment by one agricultural person to others . is there any TAX implications and also any future problems from income tax department.

Please, gIve me proper suggestions.

My mother had sold the property for Rs. 10000000/- on Oct 2023 and purchase price was Rs. 1085500/-
Year of Purchase of Sold Property: 2008

So what shall be Capital Gain as per LTCG

As my father is no more so as per law property is sold on my mother and my name there we had received Rs. 50 lac on each account

We had purchased new property worth Rs. 3500000/- each of us so what shall be the tax amount i need to pay

Kindly help

I am having income under the head salary and fall under 30% tax slab. I have done SIP which i want to sell, the profit that I'll book will be charged to tax as per my tax slab or 10% for LTCG and 15% for STCG

There is a change in my surname and the same has been updated in PAN but im unable to update in ARCA login, can you let me know how I Can update my name in ARCA login.

I request all the experts to provide their valuable feedback on the following issue:

Whether compensation received through acquisition of land by government (Direct purchase through agreement) is taxable or exempt from Capital Gain. When land acquisition is done through Land Acquisition Act, 2013 (Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013) then there will be no capital gain. There is no ambiguity in this case. But when land is not acquired under this law but through direct agreement then what will be the taxability.

Sir,
It assessess remenuration from partnership firm rs:8 lacs and interest payments rs:9 lacs loss rs:1 lacs
Professional income for individual status rs:12 lacs profit declared rs:6 lacs .
Question:
Assessess loss rs:1 lacs adjustment professional income allowed in it act

sir,
If female assessee gold jewellery value rs:15 lacs exchange to another female assessee(sister) after another female assessee silver articles value rs:16 lacs exchange to sister.
Query:
Above mentioned exchange transactions two sisters capital gain tax applicable or not applicable in it act.