I had sold 2 plots in december 2017 and january 2018 resp. aggrigating amount to 55 lakhs.And purchased one plot from such proceeds.I want to avail the benefit of Sec 54 F.For that I am going to start construction on said land in couple of months.
My query is
1.What is time for depositing the capital gain amount in that capital account scheme after the transfer
and
2.Will that value of plot of land is also available for 54F exemption benefit or only value of construction is allowed
My client is pvt ltd Company and one of the Technical director died . He was on pay roll of the company. Now The Company want to pay an ex gratia or compensation apart from Gratuity.What the name or head to be given to the said amount so that it is exempted in the hand of the widow and on other side it os allowed as business expenditure?
I just did a video shoot & editing for an event. Now they are adamantly asking me an invoice with GST number. I do only 2–3 events a year & don't cross 2 lac in total. What do I do? I mean a CA certificate or something?
Also, do I need to charge any tax to them? Can I write my pan number as Companies pan number?
I just registered my firm. I am the sole proprietor. At present, I don't cross 3 lakhs income. I got a NOC from panchayat to have an office at home and have a current account in Canara Bank. I m also planning to register at MSME. Are there any more formalities that need to be done?
If the house property is registered in the name of wife and husband and bank loan is taken on joint basis.both husband and wife are service holder.If income of wife is below taxable limit under income tax act then the can the husband claim whole interest amount and principal amount which are repayed to bank from joint loan account as exemption under income tax or on proportion basis?
What to do if return status of PY shows invalidated?
And how we get to that why return has been invalidated in case we don't have intimation u/s 139(9) from IT department.
I am a CA FINAL student and I have to file my income tax return showing income from tuition, if I show this income under section 44ADA, in that case ITR 3 will be applicable to me, and I will have to provide BALANCE SHEET AND P&L ACCOUNT in detail, is there any way to file return U/S 44ADA without any formalities..
Dear Experts,
If in the financial statements of an entity there is opening balance of loan & Advance by Rs.500,000 for which no amount received during the year then in the current year it will be classified as current asset or Non current Asset ??
Thanks in advance....................
This is a little complicated case : I participated in an online competition and as an award received cryptocurrency . So, after observing the market I sold that cryptocurrency and converted it into Indian Rupees. Can anyone tell me how is tax applicable in this scenario and how should I file it.
If any expert could spare a little of there valuable time and help me with this, It would be a big help.
Thanks in Advance.
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Cash sale to unregistered dealer