Dear experts,
I have bought a house in 2006, selling it now Long term capital gain is 60L

I booked a apartment in Oct 2012,cost 110L which builder has promised to give by Oct 2016. I have paid 50L till date. balance 60L to be paid as per construction linked plan. Can I invest 60L capital gain here.

Bit doubt on section 54. It says you can buy before one year, or 2 year after sale of existing, or within 3 years you need to construct.

Since I booked in Oct 2012, but construction will finish in Oct 2016 only. can I take adjust LTCG of current house
regards
Chandra

I have some confusion, Like, To adjust loss from house property with INCOME OTHER SOURCES,
house property loss is 5156/- But, SB Interest is 10,666/-, Now my doubt is
Can we take the deduction U/s 80TTA 10,000/- and The remaining 666/- only need to Set off with loss (or) after adjustment of loss remaining amount 5510/-only need to take U/S 80TTA(10,666-5156).
Please asnwer it......
THANKS IN ADVANCE

Dear Sir,

I have Purchased Shares of Private limited company on 02/04/2007.

on 10/03/2008 i have received advance amount against sale of such shares.

on 03/05/2008 i have received final payments for sale of shares.

Transfer deed has been made on 05/05/2008 also on MCA site transfer of shares booked on 05/05/2008 only.

My question is
1) Is advance received can be consider as sale & Gain can be consider as STCG ??
or it is LTCG ??

pls if any such case law is available then forward that also

Sir,is the amount of creditors unpaid for more than three years disallowed u/s 41(1) and added to profit?

MUKUND CA student

A individual working in a pvt ltd company will give his personal LIC premiums vide ECS for the months of Feb'15 and Mar'15 for the F.Y. 2014-15 but his company has generated his Form- 16 in the month of January'2015 for the F.Y. 2014-15 so he cannot show the LIC premiums for the two months but he wants to show the premium amounts in his I.T. Return. So can he claim the same amounts and whether it will be granted by the deptt. Please reply.

Thanks,
Abhishek.

Sir one of my friend giving services releated to ca work although he is not ca but giving all services like tax audit,accounting, auditing ,return filing.
now he wants to apply for service tax no. so which service head he should apply

Hi,

The work also includes advertising ( 94C) and
Professional services (94J) also includes advertising...

Can any one clarify..advertising is applicable under 94C or 94J. Please explain in details.

Thanks & Regards
Bala

1) If interest on fixed deposit received by assessee on quarterly basis, whether Form 15G / H to be submitted on quarterly basis ?

2)While filing quarterly return, whether interest paid to assesee to be declared on quarterly basis ?

3)After submitting Form 15G / H, if more amount deposited by assessee, whether revised Form to be submitted for declaring amount of fixed deposit and interest ?

4)In case of senior citizen not having PAN, whether Form 15H can be submitted without quoting PAN ?

water charges paid to water supplier.water is supplied through 14 tons tanker. at rate is fixed @950 per tanker. Monthly bill amounts to Rs. 100000. whether tds is to be deducted? if yes under which section?

Is there any tax if I transfer (by cheque or RTGS/NEFT) 2 lakhs or more into the bank account of wife/a family member/friend?

What is the maximum amount exempted from tax?

Can I split the amount into smaller pieces and transfer via several transactions (cheque or RTGS/NEFT)?

Is money transfer considered as gift? Is there any tax on gift?

Thanks in advance.