Hi

I have sold a land for 72 lakhs by POA. How to show it in ITR. Can get tax exemption on the LTGG if I invest the money in purchase of new flat?

Thanks

Under IBC resolution I have received some cash and some Security Receipts (SR) and Optionally Convertible Debentures (OCD) against SREI NCDs. These SR and OCD will mature over a period of 5-8 years. While calculating Capital Loss on SREI NCDs, what should be the realization value - cash amount or cash+SR+OCD?

Sir,

For 194C limit of Rs30000/- and Rs1,00,000/- including GST or excluding GST. Please clarify.

Hi

I am going to purchase furniture from Dubai for a cost of Rs. 50 lakh. What would be the statutory compliance to which I should adhere? as per the Income Tax Act, Customs Act, and FEMA Act.

Thanks in advance.

An army officer gets reimbursement of approved medical expenses incurred in a private hospital for his parents, Will the amount so received from employer be included in taxable income as perquisites or will it be exempt ? Kindly advise

I have purchased a property worth more than 50 Lac in December 2023. A payment of 30 Lac has been made for the same. Remaining payment will be due in next financial year. Should I deduct TDS on 30 Lac payment done in this financial year or wait till full payment is done?

As per section 11, even capital expenditure will be allowed as application of income and fulfills condition of 85% utilization/application of income.

My query is:
1. If capital expenditure is allowed as application of income then whether we need to show this in income & expenditure account (Expenditure side) or in balance sheet (fixed assets)?
2. If shown in balance sheet then income expenditure account will show huge surplus and then how we will show that 85% condition has been met.

Dear Sir,

We are transporter and we are transferring the amount to employee's a/c who is along with vehicle to meet the enroute expenses till the delivery of the cargo So is it correct way and any dispute arises in future from the income tax point of view.

Sir

Please advise assess register IN GST turnover Rs.70 Lacs NP 6.50 Lacs. Proper books of accounts Well maintained. if he don't want to avail the benefits of presumptive income section 44AD. Can he file ITR-3 with proper financial record ( Balance sheet- profit & Loss account ) Can portal allow to file ITR-3 in such case. Audit need in case please advise

Sir,

please provide your valuable advise I am salary person I don't have any business income. i have some Capital Gain from stocks and mutual fund. I don't done f&o and no intraday only delivery basic Transcation. but I did one single Transcation Rs.547/ purchase and 477/- sale through intraday. Can I go for ITR2 it's very small amount. disclose all under Capital gain.

please advise.