Dear Sirs,
I have query regarding sale of my ancestral house. My father brought house (RCC constructed) in 1989 and I sold it as a plot in year 2022 after demolishing the house. Size of plot was 1500 sq ft. Sale value was calculated as per local guideline value (government rate/SFT) of plot because buyer has purchased plot.

FMV as per registrar guideline in April 2001 for plot was Rs. 450/SFT and RCC house was Rs. 750/sft.

How capital gain with indexation will be calculated i.e. considering plot guideline of 2001 or house guideline. Do I need to consider house value somewhere in this calculation.

Also do i need any certificate from govt. authorized surveyor for FMV of 2001, I got the value mentioned above through PDF file online that was published to help tax practitioners in 2001 time
Please help
Thanks in advance

Dear Sir / Madam,
My query is as follows:

Ms A is co-owner with her mother in Flat No. 1 & Flat no.3 on 50:50 basis each.
She is also a co-owner with her Grand mother in Flat No.2 & Flat No.4 on 50:50 basis each.

All flats are vacant. Hence For Ms A, there are in all 4 properties whereas her mother and her Grandmother have 2 properties each on co-ownership basis with Ms A.

So my question is: since all flats are vacant, for her mother & her grandmother, 2 flats will be treated as SOP.

But For Ms A, 2 flats will be SOP & 2 flats will DLOP.

So how to show rent of DLOP flats in the returns of Ms A, her mother & her grandmother ? because suppose rent is Rs. 10000/- pm each for 2 flats then for her share it will be 5000/- pm for each flat. But those flats would be SOPs for her Mother & Grand-mother.
Then are we supposed to show rent in the return of Ms A only and SOPs in other two cases? Bit confused....

Kindly guide me.

Regards,
Suraj

"In Schedule VIA, deduction u/s 80U for self with severe disability cannot be more than the maximum limit of Rs.1,25,000"
After filling ITR3 online , above message appeared 10 times .What to do?

Hi esteemed experts,

I require assistance to deposit TDS on immovable property. I have bought a property above 50 lakhs and have paid installments as follows :

payment date Seller receipt date Amount as installment
14/03/2023 15/03/2023 670,300.00
24/04/2023 25/04/2023 670,300.00
21/06/2023 22/06/2023 744,778.00


However, I have not paid TDS. I have the following queries:

1. Will I be required to pay TDS 3 times or in lumpsum?
2.What should I put in Date of payment/credit made to seller?- will it be payment date or receipt date as per table above?
3.What should I put in the column of date of deduction?
4.Will I be required to pay penalty and will it be automatically calculated once I give the above dates and amount ?
5. In the column where the various amounts are to be given, there is one field which requires "total amount paid /credited to seller- should I put the whole amount or amount net of TDS?

I will be extremely obliged if my queries can be resolved.

Dear Sir,

I have a Housing Loan and I am going to pay 4 Lakh as Interest in a year. And I have one house which one part is self occupied and one part I am giving for Rent (Monthly Rent 9000). So my question is how can I claim this for my TDS deduction, What is the maximum I can claim under housing loan interest both self occupied and let out property ?

Thanks in Advance

Hello all,

I have a query regarding 80G(5)(iii) i alrady have a provisional registration upto AY 2024-25.

Can we file Form 10AB for permanent registration of 80G and 12A after 6 months of commencing activities? or we required to file again form 10A? plz advise
we are filed the Form 10AB now office is rasing the query that as the six months have been passed you cant file the Form 10AB for 80G(5)(iii)
Officer asking for the maintability / alloawibility of the Application

Pls advice ..

Thank you in advance====

There is a clause "UNCLAIMED TDS" under TAX PAID Schedule. Kindly let me know the very purpose of this clause and how far this clause can help the tax payers.

firm is having service income of 6 lakh and is in the first year of operation. Whether we can file income tax return under ITR- 3 with p&L and Balance sheet without audit ?Actually the firm is in loss

A Professional Assessee laid in specified person u/s 206AB and 206CCA because he had not filed the income tax return of AY 2022-23 within due date but filed ITR U of AY 2022-23 after December 2022 so what the liability for deduction of TDS% applicable for AY 2024-25.

Hi,
Filling ITR 2 as an NRI,
I need your advise where exactly to show the Dividend income under OS(Income chargeable at special rates), Dividends received by non-resident (not being a company) / foreign company chargeable u/s 115A(1)(a)(i) (OR) Dividend Income (Other than (ii) or Dividend Income u/s2(22)(e)

Thanks in advance for your advise.