As a resident, my son booked an under construction flat. He intends to migrate and sell it later after getting possession and to repatriate the sale proceeds.
1. Has he to hold the flat for 10 years after possession as I read somewhere, or 3 years after possession or there is no restriction now; i.e. can he sell it any time, after paying applicable STCG/LTCG tax.
2. I presume the proceeds will be placed in NRO a/c. Apart from Capital Gains, is there any other tax further payable before actual repatriation such as a withholding tax of 30.09 % etc., as other writers merely refer to other applicable taxes? What other taxes?.
3. Is the present yearly property sale repatriation limit $1 million or $75000?

Thanks
DC Bhargava

query on tds on commission income.:-

If an assesse is senior citizen(female)& she is sub broker of trading member (Equity & commodities market)& her income is non taxable as per limit under income tax rules. she had also submitted the 15H form to the company(trading member). therefore in this case if any brokerage or commission income earned by her threw company, then will company deduct the tds on that brokerage/commission or not & why?

Kindly please resolve the query
Thanks

Rishabh

I am based Delhi,I have a supplier in Gujarat, I get stocks by c form and I am reselling to other states .

Now I want to change my base to Gujarat to logistics benifits.

If my suppliers bills me locally by vat and I resell to other states i have a additional cost of vat in Gujarat .

Is there any other way I can get billed other than VAT.

Good evening to all,

Here is a query regarding the gift amount received by relatives :

Q.1 : what is the maximum amount of gift can father can gift to his / her son daughter? weather the amount of gift received by his son/daughter is taxable for them or not?

Q.2 : If my Father, mother ,grand mother, elder brother , younger sister(married/unmarried)wants to gift Rs. 100000/ each to me. Weather I am eligible to receive the gift from them & upto what maximum limit? Weather this gift income is taxable for me or not?

Kindly please resolve the query at the earliest for which I will be vary thankful.
Regards
Rishabh Agrwal.

I am facing problem in filing ITRs f my clients as they are unaware of their income tax login password.
Is their any way to reset income tax password on alternate email id other than the registered e mail id, as my clients did not register them on income tax earlier!!!!

Please help!!

Dear Sir,
My query is that my uncle is filing income tax return and he is showing income on presumtive basis but the main problem is that has deposited cash in his saving bank account which exceeds Rs. 1000000/- but the account was closed later on and we have not shown it in return.
Finally, what is the solution to this problem.

Res Sir,i want to know,my uncle give me Rs.4 lacs as a Gift via Bank cheq.and we make this Gift did on Rs.20`s stamp paper,it is necessary to notarized ? if yes,then in describe in income tax law ? if yes,then kindly give me it`s number.

Dear Sir/ Madam,

I have appeared for CS Dec-13 Exam i got 142 Marks the in the first group same i have sent for verification of marks to ICSI.
Till the date i have not got any reply from ICSI.

Can i prepare for both modules in appearing june-14 exams..

Please Suggest me i am confusing regarding the preparation for June -14 Examination..

Dear Sir/ Madam,

Please provide me Notes for CS executive II Group Preparation..

Thanks & Regards..

Dear Sir,
Now a days cpc is sending sms and email to non-filers, against whom department has received information regarding saving bank a/c transactions or tds in form 26AS etc.
Cpc asking them to login and click on compliance link and to select relevent option.

In case of one of my client, he had income below taxable limit in fy 2010-11 and therefore he did not file his return. Local office on the basis of tcs reflected in 26AS had issued a letter (not a notice) asking him about the return if filed.

Suppose in above case if we select the option of income below taxable limit at compliance link. Then what action cpc would take further.

Please advise me in this regard.