Dear Experts,
In case of sale of a property, actual sale consideration agreed upon is more than the DLC value u/s 50C. Say DLC value is Rs. 60 Lakhs and agreed sale consideration is Rs. 80 Lakhs. Than in such a situation how capital gains will be calculated. What amount would be reckoned as sale proceeds for calculation of capital gains, Rs. 60 Lakhs or Rs. 80 Lakhs? And also whether sale deed can mention actual sale consideration i.e. Rs. 80 Lakhs?

My client has made foreign remittence without obtaining 15 CB certificate(which has to be given by CA). for FY 15-16. now bank is forcing them to produce form 15 CA. my querry is is it possible for me to file form for fy15-16 in new form which are issued by government. plz reply earliest. and thanks a lot in advance

dear all,

religious trust has fd interest of 6,00,000/-

further for the every assessment year said fd interest is applied and used for the propose of trust (revenue and capital expenditure). and hence trust has (no/nil) income tax liability for every year.

on submission of 15G to bank for Fy 16-17, bank has informed trust, As trust income is more than rs. 300000/- bank can not accept 15G . and tds will be deducted.

can religious trust filed 15g with bank for non deduction of tds, having interest income more than Rs. 300000/-

if Not what to do in this matter.....

Hi,
I have made a property sale that was inherited from my Grandfather. The property was acquired in 1957 and the sale happened in 2016. The sale of the property happened for 20 lakhs which is less than the market value of the property which is assessed to be 26 lakhs as on date in 2016.
Since the property dates before 1-Apr, 1981, I am therefore assuming that the cost of acquisition is more than the sale price (based on the above mentioned figures) and hence there should be no Capital Gains on the Sale.
Please give your opinion if this is correct understanding.

Regards

Dear Sir/ Madam,

I am Retired Govt School Teacher age 75.
I own on house on my name.

I bought a non-NA & lay-out plot on 100 rupees bond 15 year back for 1,50,000.
Today its value is 25,00,000.

Now I wish to sell it for Rs.25,00,000 & wish to buy one used recently constructed
home for 38,00,000

In these TWO transaction I would like to avoid INCOME TAX or Tax Compliance.


Advise me how to make a deal to avoid it.


Thanking you

Tds on immovable property is deducted on consideration being more than INR 50,00,000.

Does this consideration amount includes service tax component?
What will be treatment if agreement says property value being 49,50,000 + service tax. What will be consideration in this case and will tds be deducted?
What if the agreement says 51,00,000 inclusive of taxes?

Thanks
Mohit

Who is the responsible for online Submission of Form 10E either Employee or Employer ?

Can the loss occured in Business covered u/s 44AD be set off against the income under the head Income from other Sources???
For Example:
Gross Receipts: 100000
Deemed Profit 8% : 8000
(-)Interest allowable u/s 40(b): (10000)
Net: (2000)

Income from other Source: 5000

What is advisable in this case???

Dear Sir,

Under which section TDS is required to be deducted in case of payment is less than Rs. 30000 a year.

My Client Partnership firm Profit is NIL due to Remuneration & Interest paid to partners. I am giving you data of that Partnership Firm. Kindly help me out.

Remuneration Paid (72000X2) 144000
Interest Paid (65889X2) 131778
Total 275778
Gross Receipts of Business is 708302/-

Thanks in Advance