HI there,
If a person holds two separate residential units at one place converts into one unit (e.g.200 & 201) and at another place one more unit (e.g. 50) and subsequently sold the unit no.50 and invested the amount to purchase one residential plot from the proceeds, please confirm the amount of capital gain u/s.54 will be exempt or not.

Following conditions should be satisfied to claim the benefit of section 54.

The benefit of section 54 is available only to an individual or HUF.

The asset transferred should be a long-term capital asset, being a residential house
property.
Within a period of one year before or two years after the date of transfer of old
house, the taxpayer should acquire another residential house or should construct a
residential house within a period of three years from the date of transfer of the old
house.

Tax payer should not own more than on residential house on the date of transfer.

One of my client has 3 house properties. One property has been purchased in April 2022. How will be the deemed rent income on the third property be calculated, on the basis of the municipal rateable value or on the purchase price of the property paid in April 2022 .

Hello, for our Federal Bank account, we got an error while prevalidating it on IT portal. Our PAN, A/C number, mobile, email id, IFSC are all as same with Bank records and in e-filing profile. but the system fails the validation stating "PAN Bank Account IFSC Linkage Failed" . But our Bankers are saying that they have not received any pre-validation request for our account from IT Portal .
Is there any solution for this? Please give your suggestion.

Sir,

I am trader, purchase machinery of Rs 15 lac inclusive gst on 2020 .
Now i want to sell the machinery at same price , whether i have to pay gst.
As machinery already got depreciated.
Please advice

A director of a private limited company, getting Rs-0/- Salary/Remuneration taken on previous year. can I eligible for pay Rs- 2500/- Professional Tax.
i am Non working director in Pvt Ltd company.
Professional Tax is Compulsory for Director Working or Non Working case.

Whether delay of submission of return can be condoned to avoid disallowances u/s 143(a)(v) of the IT Act

Dear Sir / Madam,

It is learnt that the method of calculation of options turnover is now changed from FY 2022-23. I request learned member to guide us on this new method of option turnover calculation for Tax audit purpose with some examples.

Thanks & regards,
Suraj

Hello sir/ma'am
This is Nakul Kumar from Meerut(UP)

I am a police official in Uttar Pradesh police department. I did police training during June 2019 to June 2020. Due to some court cases regarding our job we did not get the salary that time. But now we are getting our remaining salary with our present salary.
The problem with that remaining salary is that the babus of our department are cutting taxes on a total of that money which I got in this financial year.( Salary+ remaining salary)

So please guide me if they r right
And if they are wrong then help me out..

Plz plz plz

Dear Sir
I am an NRI living outside India having NRO and NRE account. Although I am NRI, I qualify as RNOR as my income in India is more than 15 lakhs and I work in gulf country having no tax. Recently my Public Provident Fund ( ppf) account has matured and I have received 50 lakhs in my NRO account. I need to transfer this amount to my NRE account . My question is
1) Should I submit form 15 CA with part D as ppf amount is not taxable?
2) Is form 15 CB required? (bank is asking for it but 15CA section D does not require 15 CB)
3) Any implication of above due to my status of RNOR?
I would sincerely appreciate your kind advice... Best regards

Hi all , one of the client was died after filling of income tax return having refund due but still refund not issued due to bank account problem, now her bank account also closed and Aadhar not linked to mobile and she is not there now how to get that refund.

I applied for Representative Assessee for her in her son IT login and it got approved by IT dept but her (died person) IT account was deactivated by IT department. Now for getting refund amount of her (died person) what should I do in the Representative Assessee IT login.

Please anyone help me out from this issue.