My one of client TDS deducted u/s 194LA for compulsory acquisition of land by government for RS 53 Lacs on which TDS deducted @10% RS 5.30 Lacs. Land is inherited property received from father in 1978 and father acquired land 50 years before. Now what will be the long term capital gain implications in this case? What will be the cost of acquisition in this case? There is no value available for calculation of cost of acquisition. Can I take exemption of long term capital gain arise in this case by investing in residential property u/s 54F or else investing in bond u/s 54EC. Please reply

Sir. Iam business man . I have purchased a goods from one registered seller of Rs-150000,180000 and 190000/ on different on .Total goods I purchased from him of Rs-520000/ .Now I want to pay it in cash. I paid him of Rs-10000 per

day for whole amount of Rs-520000/ . Can I do it .

Please reply

Dear Sir/Madam,
What should be the Income Head when a person getting Pension from State Govt.
While Filing ITR 1 for Assessment Year 2018-2019 there is only Head for mention as Salary and the other head is Income From Other Sources
But may I mention the Total Pension Amount received under the Head Salary ?
Pls. guide me for the same.

Dear Sir/Madam,

I have a proprietorship firm in the last F.Y. 2016.17 (A.Y 17-18). Advance Tax Rs. 55,000/- & TDS Rs. 6108/-. But we have not create any provision for Income Tax.

After assessment of this year we submitted ITR & refund of Rs. 3120/- credited in our bank a/c in Jan 2018. Our net tax liabilities around 58,000/-

My question is......... How we can adjust above TDS & Advance tax in this current F.Y. 2017-18 (A.Y. 18-19) in tally?

Also confirm to me, Provision of Income Tax under which head (Capital, Current Liabilities or P & L A/c).

Thanks & Regards

Harendra Singh

Hi,
Please advise how can i show the rent arrears received from builder on account of delayed possesion in my income as i have not actually let out the property and have no intention on renting the premises in future.

Regards,
Abbasali.

R/All

A partnership firm having total sale in f.y 2017-18 is Rs- 25,28,707.00

Net profit will be approx- 58,000

do we need to get our account audited or we can file our ITR without audit.

kindly suggest

regards

Dear all,

Can i file Income Tax Return of FY 2014-15 to FY 2016-17 now i.e. in May'2018. What is the procedure.

Thanks
Rajeev

I have a salary income from my employer. Also I have an consulting income (which is with permission of employer).
I pay GST on consulting income.

While I pay tax at normal rates for my salary income, can I avail benefits of Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act for Consulting Income ?

Please advise. Thank you.

if employer deduct tds on salary on august 2017 and not deposit till now, then it is not reflected in assessee 26 AS .

1. How assessee get tds credit .
2. assesee write many times to employer but no response received, then tell me the name of authority to which assessee approach for tds credit.
3.which Income tax deptt deal this matter-------a) where tds deducted or b) where assessee file return

Whether cancellation of agreement to sell a land in the year 2010-11 is to be reported while filing return of income u/s 148 of the income tax act. If it has to be reported than in which column it is to be reported? There is no profit or loss in that. We have refunded full biana to the buyer.