I am a pensioner without business income but with a little Capital Gains from sale of shares & redemption of Mutual Funds. Principal income is from pension. I've completed entering all the data for online submission of ITR 2 on Govt IT Portal. While beginning the data entry I chose OLD REGIME. If I want to opt for NEW REGIME now just before submission do I have to start afresh or is there an option for the same at this final stage?
If a person sale a residential plot of land purchased in 2010, can he claim exemption under section 54 for construction of his house?? (old house demolished & constructed)
Turnover in the case of Intraday Trading is Absolute Turnover, IN AIS statement Showing sale Value of Shares and securities is amount of Rs 2.20 Crore .
please assist which turn over i have to show in ITR 3 in speculative business 2.20 Crore of Absolut turnover which is 50K .
Also it is a loss case so need to require Audit u/s 44 AB ?
in some delivery base transactions also to be included in Business income or to be shown in Capital Gain statement ?
Which Head for new Working Plant Which Head for Tiles & Plumbing Equipments
A person sold units of UTI MEPUS in 2023. The same was bought in 2003. The UTI sent the CG statement which shows the acutal purchase price in 2003, the grandfathered value as at 2018 and sale price and shows the applicable CG earned. However the statement does not indicate the ISIN number of the scheme. On enquiry the UTI has replied vide email that this scheme does not have ISIN as it is not traded in secondary market.
How can the LTCG in this case be reported. As this is an equity oriented scheme (the name itself says Master Equity Plan Unit Scheme) we decided to report in Sch 112A of the CG section in ITR 2. However, as there is no ISIN we are unable to report the same.
Please guide as to how this can be reported.
Kindly advise how to treat gain on sale of Car Bought a second hand car 290000 and sold after one week of purchase @ 370000
How the tax liability will arise on gain
In 53rd GST Council meeting held in 2024 it is decided to waive interest and penalty whether it will applicable to show cause notice or DRC-07 order?? or both ??
Should I be declaring my personal F&O profit in
Trading Account -> Revenue from Operations -> Sales / Gross receipts of business -> Other operating revenues as "Profit from F&O trading"
Or, should it be in
Profit and Loss -> Other income -> Any other income as "Profit from F&O trading"
Last year, I had loss from F&O and I had put it under
Trading Account -> Direct Expenses -> Other direct expenses as "Loss from F&O trading"
Sir, An NRI assessee who has sold long term capital assest otherthan Residential House situated in India, is claiming exemption under section 54F. He has one residential house in India and one residential house out-side India, as on the date of transfer of long term capital asset. 54F restricts the benefit only for those having one house property. Because the assessee is having one house property in India he intends to claim the benefit of section 54F and contends that his having one house property out-side India also at the time of transfer of capital asset, though amounts to owning more than one house property, will not come in the way of claiming the benefit of Section 54F. Whether 54F benefit can be claimed by purchasing / constructing one house property in India withing the time allowed, even though he is having one house in India and one house out-side India, with the contension that, he does not own more than one house property in India. Thanks in advance.
All Subjects Combo (Regular Batch) Jan & May 26
Switching to New Regime while filing ITR