The Assessee has given their plot to Develop to a builder under a Registered Joint Development Agreement executed in the year Apr 2021. The said plot was purchased in the year 1980.
Query:
Should the Assessee take the Fair Market Value or stamp duty value as on 01.04.2001 for the purpose of calculation of capital gain?
Thanks & Regards
Respected Experts,
While preparing Financial Statements of one of my friends Prop Business, i observed that he has erroneously omitted few Sales Transactions in GST, which resulting variance between IT Turnover and GST
It is a Non Tax Audit Case
Since we are declaring 100 % Actual Sales in Income Tax, will there be any consequences for the variance happened in GST?
Kindly advise
Respected sir
Could you please ascertain LTCG in the following case
land purchased in 2006 (6.50 ares )--Rs.300,000
sold 2.23 ares in 2012 --Rs.600,000( for constructing house(partial)at a cost of Rs.14 lakhs
Renovated the house in 2018-19 at a cost of Rs.30 lacs
Sold the house property in 23-24 for Rs.75 lakhs
Brokerage--Rs. 2 lakhs
Please also inform how to save LTCG
Thanks in advance
MY CLIENT INADVERTANTLY PAID RS 3937490 INSTEAD OF RS 39374.90
TDS ON 07.5.2023 FOR MONTH OF APRIEL U/S 194Q
NOW HE WANT TO TAKE REFUND IMMEDIATELY
HE COMPLAINT THE BANK THE BANK ASKING ABOUT THE NAME OF BANK OF INCOME
TAX DEPARTMENT AND IFSC CODE
WHERE TO GET THE DETAIL OF THE BANK AND ALSO
HOW CAN REFUND BETAKEN IMMEDIALTELY AS INVOLVE THE BIG AMOUNT
Dear Experts,
What will be the Deprecation rate for solar power plant as per
Income Tax Act,1961.
Companies Act,2013.
Also whether the company claim the additional depreciation of 20% as per Section 32(1)(iia) of Income Tax Act,1961.
Pl clarify
Respected Sir, I had tried too many times to fill up and then upload the above forms offline mode (as advised) but each time message shows " do not fulfill the object". I used Windows 10 (all are up to date). Is the above form in order or defective? Kindly let me know your valuable direction to do the needful. Regards, Tarak Kumar Roy, 150/1/1, Banerjee Para Road, P.O. Naihati - 743165, West Bengal.
Dear Sir,
For F.Y. 2022-23 in old regime standard deduction is available upto Rs.50000/-. Now my query is that this standard deduction how much amount to be claimed as Standard Deduction in the following case .
Gross Salary Rs.75000/-
Professional Tax Rs.600/-
80-C Deduction = Rs.25000/- and now taxable salary is 75000-600-25000=Rs.49400/- so whether Rs.49400/- to be claimed as standard deduction or Rs.50000/- should be claimed as standard deduction. But if later is claimed then taxable income will be Rs.(-)600.
Please guide.
Respected Sirs,
Error in establishing connection with TRACES Websocket Esigner. Please ensure that WebSigner Setup is installed and service is running on your machine and there are no proxies enabled on the browser while doing DSC activities.
Sir I have to make correction in TDS Return. Please guide me and oblige.
How are we supposed to pay the TDS on behalf of landlord this year? All the info on every website has out-dated links on the TIN INFO site, and that doesn't apply anymore. Please guide us. e-pay Tax option does not show rent TDS at all. There is no 26QC link on this page: https://www.protean-tinpan.com/faqs/tds-on-rent-of-property/TDS-Introduction.html, only e-pay.
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Is TDS applicable on court fees