Dear Sir/madam,

I had sold two residential property ( flat ) as per below details :
Property A :
Purchased in july 2003, cost : 572000/-
Sold( registry done) in Aug 2013 in Rs. 400000/-
Note – sale amount received in Oct 2013
Property B:
Purchased in july 2003, cost : 572000/-
Sold ( registry done) in Feb 2014 in Rs. 250000/-
Note – sale amount received in Apr 2014.
I have contacted many professionals to find out the way to invest amount to prevent impose of tax. But I have not got correct information. Finally I have purchased a land for 4250000/- on 30th July 2014. I have paid 10% of total amount of 5 flats in soft launch. These flats will be completed by Apr 2017. The approximate cost of each flat is Rs. 30lacs.
You are requested to clarify on following points :
1-is there any mistake in above transaction in view of INCOME TAX department.
2-What was the last date of investment of capital gain .Any other suggestion for me.

Dear Sir,

My brother has taken a housing loan from India Bulls Housing Finance. The cost of the property is 25 lacs. Does he need to deduct TDS while making EMI payment to them?
I have referred google and come to know that the Banks have been exempted from TDS deduction by borrower in case of housing loans, but i was not able to find similar guidelines w.r.t to Housing Finance Companies. Pl guide. Thanking you in advance.

Dear Sir,

I received TDS Default for Q2 26Q interest of Rs. 680/-. I didnt pay this interest while i am doing regular statement. Now i download the conso file, then i dont know whether i have to update the previous challan details or i need to add the row and update it in RPU and also about deductee details Annexure I

One company incorporated on 01/10/2009. till now company has not paid any taxes and not filed any returns. Now that company wants to follow the legal requirements. what is the situation.

Hi All,

A client of mine was working with a company which granted its employees some shares in in ESOP scheme. While some options vested in him during the year, some did not. He did not exercise any right to buy the shares.
The employer company was taken over buy another Company which paid cash consideration for vested options and the unvested part was converted into shares of the new Company.
The client (employee) received some amount in 2011 and some in 2014 (this was kept in escrow account).
My query is that how will capital gains be taxed in the hands of this employee client? Since he did not exercise any right to buy the options, will there be any capital gains here? He had taken the proceeds that he received in 2011 in his return for that year itself.
Should all the income be booked in 2011 when cash consideration was paid or should it be taxed as and when proceeds are received from Escrow account?

This is a very complex query for me. I will appreciate if someone could advise me...
Thanks in advance

Dear Experts,

Is it possible to change the deductee code from 0021 to 0020 in the challan for form 26QB (TDS on sale of property)?

Hi All,

There is quite a lot of ambiguity on this topic, hence I am posting a query for a final opinion on this. Is recurring deposit in post office allowed as a deduction under section 80 C? Or only a time deposit (fixed deposit) for a period of 5 years is allowed as a deduction?

Thanks in advance

Hello, I had efiled for my return and i received intimation 143(1) today , There is a mismatch in the refund i requested and the refund Income tax dept has calculated. The difference is due to interest on the refund amount. I.e they have added some 170 rupees in my refund. So should i file for correction as there is a difference in amount claimed and amount calculated? or is it ok if my claim is less than the refund calculated by Income tax dept.

DEAR,
STORY : If a person borrowed loan for house construction of Rs. 10 lakh from the bank and he starts construction. he thought he will complete construction with 10 lakh. but the value of construction goes to 25 lakh. then he managed the 15 lakh Rs. from his other source of income that he did not showed yet but it is his own income.

Qu : so which amount should he show in balance sheet and how should he manage his balance sheet so as to solve this issue?

pls say in detail

Hi,

I am joining a MNC. In the offer letter Company has mentioned following allowances/perquisites

1. Medical reimbursement Rs. 1250/month
2. Sodexo coupens Rs. 2500
3. Residential telephone reimbursement Rs. 2500
4. Car fuel and maintenance Rs. 2400

Company has given option to me to opt these above in or out of perquisites...

Now my question is which of the above i have to opt in perquisites and which one out of perquisites..??

and whether i have to provide all related documents on the actual exp on the above to employer for tax benefits???

Pls help me out