Dear Sir,

I have query regarding capital gain tax for sale of house property. Facts of the case are as under.

Flat was inherited by me during the year 2001. Flat was acquired by my father during the year 1987. Cost of the same was 2.5 lakh.

Society went for redevelopment of the Building during the year 2010. Redevelopment was completed during the year 2016 and possession of new flat was handed over on 31st May 2016. Agreement for allotment of redeveloped flat considered Market Value as 10 lakh and stamp duty has been paid by me.

Now I have sold the flat during April 2018 for 65 lakh.

Your advise is sought as under:
How the capital gain tax liability is calculated?
How much amount I need to invest in capital gain tax bond or new house to save tax liability?

Thanks a lot in advance
Chandra

As you know the threshold limit of purchase from unregistered dealer is Rs. 5000.00 under RCM, What should I do if I have 18 Branches under one GST registration?

1. Every 18 branches can spend or purchase from unregistered dealer upto Rs. 5000.00 each. And no RCM liability will levy on me.

OR

2. In all 18 branches we can only spend or purchase from unregistered dealer only upto Rs. 5000.00 . I mean all 18 branches expenses or purchase will be treated as one. And what will be the RCM liability.

Please reply

An Assessing Officer made additions to income of ₹ 5 crores in the scrutiny assessment order stating that there are differences in the previous year column of current financial statements and the previous year financial statements. The fact is that the difference was only on the face of the Profit and loss account due to change in grouping but there was no other difference as the Profit Before Tax (PBT) was same. Is there any reference of such cases earlier to represent before the CIT (Appeals) ?

Should I have to pay RCM if I have purchased some goods or service from registered dealer through cash amount Rs. 5000 and above? As you know the threshold limit of cash purchase under GST is Rs. 5000.00

Should I have to pay RCM if I have purchased some goods or service from unregistered dealer through cheque? Either I will purchase under Rs. 5000.00 or more than 5000.00. As you know the threshold limit of cash purchase under GST is Rs. 5000.00.

Please describe.

As per rule8 of aforesaid rules, a company can t be registered with the name of the company which was dissolved within previous 2 years . So how can we chek that our proposed name is not resembling with any of such dissolved company's name.?

Dear sir I want to start CBSE board school.for which I want to register accompany. I do not want to register a society are trust for governing to school. I am a government employee. Can I register a company for running School.for Company registration 2 director are mandatory. Can I hold one director post in any mode.

Hi,
I sold my 18-year old Flat in FY 2017-18 (Oct 2017) for 21.65 Lakhs. Assume that I have correctly ascertained the Cost of acquisition of the flat with Indexation as 14.96 Lakhs. So my Long-term Capital Gain works out to 21.65 – 14.96 = 6.69 Lakhs.
I have also purchased a new residential flat for 11 Lakhs paid fully and registered within Mar 2018 i.e. FY 2017-18. I will claim it as Deduction under section 54.
Apart from the above I only have taxable Income from Other Sources for FY 2017-18.

I will be using Form ITR-2 to file my tax return for the year. I will be filling Schedule CG (Capital Gains) in ITR-2. In Schedule CG I will be filling the Long-term capital gain (LTCG) section i.e. section B.

I WANT TO KNOW IF THE FOLLOWING ENTRIES IN THIS SECTION ARE CORRECT OR NOT:

1. From sale of land or building or both
a iii. Full value of consideration adopted as per section 50C : 21,65,000/- Rs.
b Deductions under section 48
i. Cost of acquisition with indexation : 14,96,000/- Rs.
c Balance : 6,69,000/- Rs.
di Deduction under section 54 : 11,00,000/- Rs.

Regards,
Snehashish

ITR 7 had been filed in case of a charitable trust for FY 2016-17. It is registered u/s 12A and 80G. It was not liable for tax audit for the year under consideration.

Notice u/s 139(9) has been received mentioning error code 92 stating error description:

Assessee has filed return in Form Type 7, and has not
claimed any deduction/exemptions under section 11 or
clauses of Section 10 or Section 13A or Section 13B in
Schedule Part B-TI of the return.

and resolution :

If eligible for benefit of deduction/ exemption under section
11 or clauses of section 10 or section 13A or Section 13B
the same need to be claimed in the return. In case the
assessee is not an institution required to file return under
section 139(4A) or 139(4B) or 139(4C) or 139(4D) or
139(4E) or 139(4F) the return should be filed in prescribed
form i.e ITR 1 to 6 , as applicable.

I am not able to get what deduction/exemption they are asking to claim.

Kindly guide me on the same.

Hii
I want to increase the paid share capital of a private ltd company from ₹ 4,50,000.00 (45000 shares) to ₹ 5,00,000 (50,000 shares). The company is already having Authorised Share Capital for ₹ 5,00,000.00.
Please tell the procedures and what forms to file with ROC.