I redeemed my mutual fund and sold some shares to partly fund my flat purchase. Under which section I can claim LTCG deduction. The transaction has been done within a two week time. Please guide.
dear Sir,
I have Two Business, 1 have profit and 2nd is loss (loss on shares) and also salary income, now which ITR SUITABLE FOR ME AND HOW TO SHOW LOSS IN ITR.
Dear Sir,
In the financial year 2022-23 a slum hut in Mumbai was sold for Rs.2250000, which was purchased on May-2012. There is no registration and stamp duty for slum huts in Mumbai. There are no valuation reports for this slum Sale.
My question is if I have shown loss of LTCG Rs.315000/- in income tax return then there can be any inquiry from Income Tax?
Please reply your valuable advice in this regards.
Thanks & regards
N Kadam
whether any disallowance in current year if TDS is not deducted on capital expenditure
or depreciation is disallowed ?
Sir,
It assessess agreement sell transaction f.y.22-23 and sale deed f.y.23-24.if transaction reflected in ais f.y.22-23.
Question:
Assessess transaction show in f.y.22-23 or f.y.23-24.
Dear Sir,
Commission received in showing itr tds column by default income from other sources. Iske liye itr ka kon sa form choose karna chahiye aur kahan par show karana hai.
May I shift to new Tax Regime now ? Although, Tax has been deducted and paid according to Old Tax Regime vide Form 16 Issued to me (Salary Income only).
If Assessee has loss from F&O in FY 22-23 which is first year of his loss and in previous Financial years he opt for 44AD for his other business(Milk Production) is tax audit u/s 44AB required or he continue to opt for 44AD for milk business and show loss on F&O and set off against Milk Business.
If the sale deed doesnot specify can we take percentage ownership of co owned property as 10% and 90% for two co-owners while calculating capital gains on sell of such property based on the fact that payments were received in that ratio.
CBDT in the circular No. 13/2023 dated 26/07/2023 has allowed CCsITs to grant codonation of delay in furnishing ITR by Co-operatives for the AYs- 2018-19 to 2022-23. My doubt is that since the assessment for the AYs-2018-19 to 2021-22 are barred by limitation of time as per Section 153 what purpose would be served by filing return for these years, other than claiming refund if any and certain exemption u/s 194N?
Experts, please comment as your valuable suggestions would help the co-operative community all over India.
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Long term capital gain and purchase of new flat