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

Can anybody please tell me that whether additional depreciation should be claimed only in 1st year or it can be claimed in subsequent years as well?Please reply.

can u tell me expert what total deduction to be made in a.y 16-17

Is there any penalty attracted if we donot file a nil return??Is it mandatory to even file a nil return with IT deptt??

What is 44-AB ?
What is 44-AC ?

What are the worst consequences if by the way we fail to upload the ITR after the due date in case of tax audit ?

What are the worst consequences if by the way we fail to upload the ITR after the due date in case of non- tax audit ?