I had sold shares and mutual funds worth 30 Lakhs 3 years back and the amount was deposited under 54F in CGAS scheme for purchasing the house as mentioned below.

>> Sale value of shares/equities: 30 Lakhs
>> Principal = 22 Lakhs
>> Capital Gain amount = 8 Lakhs
>> Amount deposited in Capital gain account t= 30 Lakhs

I am unable to use the complete amount deposited in capital deposit gain account even after 3 years.
According to me, now I need to pay tax at 10% of 8 Lakhs (Correct me, if I am wrong).
I was trying to declare the above in deemed capital gain section with entries as mentioned below
>> Section under which deduction claimed in that year = 54F
>> Amount utilised out of Capital Gains account = 0
>> Amount not used for new asset or remained unutilized in Capital gains account = 30 Lakhs
For above entries 20% of 30 Lakhs is considered as tax.

What is the correct way to declare the above in ITR so that the tax is 10% of 8 Lakhs.

What is the business code for petrol pump dealer in ITR filling

yes, i change my view. All assets to be given and even liabities to be given. i didnt see liabilities in al schedule, so was asking only debit balance to be given or all? anyways, its solved. thank u sir.

AL SCHEDULE ASKS DETAILS OF LOANS /ADVANCES TO OTHER CONCERNS.
DOES THIS MEAN PARTIES WITH ONLY DEBIT BALANCE (ASSET SIDE) AT YEAR END NEEDS TO BE REPORTED?

MY VIEW--> WE HAVE TO GIVE PAN, NAMES ETC OF ALL MONEYS BORROWED AND ADVANCED OUT , IRRESPECTIVE IF IT IS DEBIT BALANCE OR CREDIT BALANCE AT YEAR END.

Educational society claiming exemption u/s 11 until last year, is now wish to filed return of income by claiming u/s 10(23C)(iiiad). The accumulations which were kept u/s 11(2) can it carry forward as long as society claiming exemption u/s 10(23C)(iiiad)

Can business losses be set off against short-term capital gains and long-term capital gains.

Due to non supply of PAN card to PO, 20% TDS was deducted in last 2 years. The person is a tax payer and has valid PAN card. Is there any way now that he can recover the TDS ?

Sir,

TDS statement has been processed with default for short deduction due to one inoperative deductee PAN.

Demand amount along with interest deposited.

What to do next? Please advice.

Return u/s 10(23C)(iiiad) to be submitted in october for penalty of Rs.1000 to claim exemption

Educational Society got permanent registration u/s 12A for 5 years and accumulations are there. Now can we file u/s 10 (23C)(iiiad) as receipts are less than 5 crores before years we claimed exemption u/s 11

Under 54F, total sale proceeds was deposited in capital gain deposit account as mentioned below.

Sale value = 25 Lakhs
Purchase value after indexation = 10 Lakhs
Capital gain amount = 15 Lakhs
Amount deposited under CGAS: 25 Lakhs

I am unable to use the complete amount even after 3 years.
What is the tax implication now?