Is earnest money forfeited loss under the head capital gain for buyer on default of buyer

DEAR SIR
i am here with a query related to LTCG , my father purchased a land in 1988 for 48,000 inr, then constructed a house on that land in 1992 INCURRING COST OF AROUND 4-5 LACS (constructed area around 1800 square feet) then again did some construction on 1st floor in 1998 of around 400 square feet.
then he sold the house in 2011 for 17 lacs...according TO indexed value that i have calculated the indexed cost of (purchase of land + construction) is equal to sale amount i:e 17 lacs in 2011...hence he has not to pay any income tax..pls throw some light on it...also does he required to mention the LTCG in his return even if there is no taxable ammount in LTCG.

KIND REGARDS
IMRAN

Respected Sir please, resolved my query.
Suppose a person withdraw a amount from ppf after 3 years and investing the same amount in PPF account again.
Then same amount is again exempted under section 80c.
Example Suppose A has investment in PPF A/c after 3 years he withdrew the amount and the very next day he invest same amount in PPF a/c. Whether he can claim exmpetion under 80C???

Hi everyone,

i have entered correct PAN then also when i upload the ITR 5 (firm) the following error is shown.

"PAN mentioned in Personal/Verification section is invalid."

What could be the reason ?

Dear Expert,

A foreign professional person is providing prof. services to our company. so how to deduct tds on payment to him & the procedure in issue of TDS certificates .

pls. answer it.

Sir, this year I purchased an Agricultural land (Situated within 8 KM of Muncipal area) on 23rd August, 2012 in Rs. 10000000 (One Crore) paid by cheque. I purchased the land by taking loan from my husband’s firm.

Now I want to sell my other agricultural land (Situated within 8 KM of Muncipal area) which was acquired in the year 1968. But I am going to sell the land via plotting (i.e. Residential purpose) in 2012 to save my capital gain. I will approximately get a bit more than 1 crore.

I have purchased the land before selling a land.

Will I get exemption from capital gain tax in this financial year? Where can I find books & documents relating that?

Details-

Purchase New land (August 2012) – Rs. 10000000 (One Crore)

Sales of 1968 Land via plotting 2012 (after November, 2012) – Rs. 13000000 (One Crore thirty lac) approximately

Difference = 3000000 (Thirty Lac)

I think that I have to pay the capital gain if the difference amount is more than the indexed cost of land (1968) + investment on that land (1968).

Please help & Advice.

Thanking you

how many time we can take adjournment????
is there any limit ????

Dear Sir,
I registered my PAN for e filing, but when I clicked on view form 26AS, a message appeared that I am temoprarily registered and select one option -
1. Self assessment tax deposit.
2. tds deducted
3. register digital signature.

Above conditions are not applicable on me
and I dont want to obtain digital signature only to view form 26AS.
Please advise me what is the solution of my problem.

PLEASE GIVE OPINION FOR THE FOLLOWING:
WHO WILL ISSUE TDS CERTIFICATE "FORM 16" TO EMPLOYEE FOR FY-2012-13?
A) IF GROSS INCOME FROM SALARY IS MORE THAN RS 1,80,000/-
B)IF GROSS INCOME FROM SALARY IS MORE THAN RS.2,00,000/-
C) IF NET TAXABLE INCOME FROM SALARY IS MORE THAN RS 2,00,000/-

PLEASE COMMENTS AS EARLY AS POSSIBLE

Dear CCI Members,

At the outset let me convey my best wishes to all of you on this auspicious occasion of Diwali.

I would like ur advice on whether to follow VK Singhania or Vinod Gupta Module for CA Final? I am looking for intricate discussions on the Direct Taxation of CA Final.



Regards