I am currently living in a self owned flat. I also booked new under construction flat in 2016 for which I am going to get possession in 2022. My plan is to sell existing property in 2022 and move to new property.
Query1 - Can I claim capital gain exemption under section 54 on my old Property sale as I am selling old flat and taking possession/registering new flat in same year (although I have booked it in 2016)?
Query2 - Can I claim pre construction interest rebate on new flat?

We are maintaining HUF A/C assessed in IT till date.All cash balance of Huf deposited in FD with bank getting interest from it.
Now we are deciding to make partition among family members of cash balance.
What is the procedure to close this a/c and to surrender our PAN of Huf to IT department

Professional fees includes travelling charges say Rs.1000/- professional fees , travelling charges Rs.200/- Total Rs.1200/- and requested to Banker . the Banker credited to my Account . Now my question is shall i pay Service tax for RS.1200/- OR i shall pay service tax for Rs.1000/- .
Request is made in one letter and separately mentioned .
Please answer and to E Mail.jayaramrajurs@gmail.com

In the A/y 2017-18 We have filed the Return U/s 44 AD and in F/y 2018-19 we have been audited U/s 44AB (a) in the current A/y 2020-21 out turnover is 46 lacs can be file the return by just filing the balance sheet and profit and loss account and declaring profit @ 10%. uder normal provisions. Or Audit is Compulsory

Sec 44ada professional income I.t return filer download 26as in f.y 19-20
Sec 194da
Amount rs:104250/-
Income from lic of India
Tds deducted Rs:1043/-
Question:
Above sec 194da amount lic of India Rs:104250/- treatment taxable(other sources of income)or exempted in I.t. act.

I am a senior citizen having pension and other income OF RS 3.20 lakhs( after availing tax rebate under 80 C, 80D, TTB etc)during durrent FY 2020-2021 . I have done share trading transactions ( delivery and intra day) with a turnover of Rs 76 lakhs from 1st april 2020 till 31st december 2020 earning a business income of Rs 1.35 lakhs. This will offset a carried forward loss of 65000/- from last financial year.
my query is : SINCE THE SHARE TURNOVER IS LESS THAN 1 CRORE AM I LIABLE TO HAVE MY SHARE ACCOUNTS AUDITED BEFORE FILING ITR 3 FOR FY 2020-2021, despite my other income exceeding tax exemption levels ???
I am getting confusing answers from my CA qualified friends. Please quote the rule and kindly help me with a correct clarification. Please reply to : rvrv002@gmail.com
MOST GRATEFUL IN ANTICIPATION
V RAMACHANDRAN
COIMBATORE

Hi,

I forget my PF password and lost my registered mobile number. Now when i am clicking select the option of forget password, i can verify my detail by providing Date of birth option. But it is showing wrong date of birth. I think employer has not updated correct date of birth. Now i am not working anywhere. How can i change my password. My old company is closed. So i dont have option to do with old employer.

Please suggest. Thanks

Ours is Cinema Theatre having turnover less than Rs.5 cr
However cash is collected towards sale of tickets and canteen which is deposited next day in the bank
Such cash sales are more than 5% of total turnover

My question is whether tax audit is compulsory because all cash receipts are deposited in bank

Dear sir/madam
How to pass entry for a loss in previous year to current f. y. year in a partnership firm

Have purchased an apartment in Dec 2010 registered the property in 2010 but got possession in Aug 2013. For calculating capital gain tax we should refer to the index of the year 2010-2011 or 2013-2014. This is for investing in 54EC to get a Capital gain Tax advantage.

Can you please help clear this confusion?