I had planned to purchase a new residential flat against the sale of my old residential flat,using the benefit of Section 54,viz,

“ Any long term capital gain from the sale of a residential property shall be exempt if such capital gain is invested in the PURCHASE of another residential property WITHIN ONE YEAR BEFORE or 2years after the transfer of the property sold”

My Case:

- New Flat : UDS Registration on18/04/2019
- For availing Sec54 benefit,I decided to sell and transfer my old flat (bought in 2006) before 17/04/2020. I had finalised the buyer in the first week of March 20,for registration on 15/04/2020.
- However,due to Covid 19 Lockdown, I could not carry out my registration in April 20.
-Now I am planning to register before 15 September 20.

My query:

- As Ministry of Finance,GOI,has issued a Notification on 24th June,2020, extending time limit to 30th September 2020,in respect of investment in capital gains under Sections 54 to 54GB, CAN I CLAIM THE BENEFIT UNDER SECTION 54 IN MY CASE?

SIR
As a transport Co., we are deducting tds on the payments made to the sub-contractors. Some of the sub-contractors are having trucks less than 10 Nos. So we did not deduct tds.
Question is while filing of tds return,should we show the sub-contract bill value even for non-deducted parties ?
guide me plz
thanks in adv

I am dealing with petrol pump business, which is a non-GST Supply. Recently I have purchased an oil Tanker Truck for the same business purpose and the company from which I have purchased it has deducted GST on source. Can, I claim the same as refund.

Dear Experts,

We have submitted the Closure request to ROC through LLP settlement scheme this month. We have filed the FORM 8 and FORM 11 up to FY 18-19.

Since the closure request has been submitted to ROC, kindly advise, if we need submit the IT return ( NIL return) for the FY 19-20.

Also please let know if i can surrender the PAN of LLP based on Closure Acknowledgement from ROC

Thanks in Advance.

Dear Sir
We have purchase to customer Meis License Tds is applicable not not ? if is applicable what should be tds under section and rate for tds dedicated ? if any notification

Form 16A shows a credit towards rent by my tenant for March 2020 on 31st March 2020 (FY 2019-20) itself and deduction of TDS and credit of the same to govt. on 27th April 2020. However the rent for March 2020 was credited to my account only on 7th April 2020 (FY 2020-21).
In spite of pointing out the mistake, he is unresponsive. What are the options for me to correct this?

Assess property value Rs: 50 lacs.this property gift to son.
1. Assess sales of property received amount after transferred to cash gift to son.
2.assess property gift to son.
Question:
Above two transactions better in I.t. act.

Assess loan received from banks and others Rs: 70 lacs for the purposes of construction of commerical building .
Question:
Assess loan interest to banks and other persons paid amount treated for business expenses(p&l) allowed or construction of commerical building include interest amount in I.t.act.

Is tax audit required if there is speculation loss on intra day trading on day 1 of Finanacial year and speculation gain on some other day of the same financial year, the net off result of both these speculation transactions is speculation gain and the turnover does not exceed 1crore

Hi,
One straup company opc is registered in last year, stayrd businnes in 2020 first week, now company received a last 7 months businnes ,this month they planeed to pay salary to their employees , company not registered under professional tax ,can you give suggestions how to apply for PT registration and deduct pt for last months,and consequences for delay PT payments