I sold open plot of land in 1.40 crore. Indexed Cost of purchase is 0.24 crore. LTCG is Rs. 1.16 Crore. I want to save capital gain tax by following exemptions.
I have purchased Tax Saving Bonds (54EC) of Rs. 50 Lakhs and want to purchase new residential house value of Rs. 70 Lakhs (Sec 54F) . Thus total investment comes to Rs. 1.20 crore.

Queries
1. Can I claim both deduction u/s 54 F & 54 EC ????
2. If investment in bonds partly and investment in new residential house party is possible??

Please help.

A Pvt Ltd Company gives a loan B Ltd Company. C Ltd Company holds 100% shares in B Ltd.
In A Pvt Ltd, an individual shareholder possesses a 40% stake and concurrently holds a 17% share in C Limited. Simultaneously, the spouse of this individual shareholder, who owns 10% of A Pvt Company, also holds a 15% interest in C Limited.
Whether this scenario falls within the purview of Section 2(22)(e).

Sir,

I want to know the applicability of TDS under section 194C / 194R. My company have availed package tour of Rs. 20,00,000 from a tour operator. Invoice was raised in the name of the company by the tour operator. As it was a package tour liable for TDS under section 194C and the same was deducted by the company. But this package tour we are proving to the architects each case it was exceeding Rs. 20,000. Here, I want to know whether TDS under section 194R was again applicable in this situation?

Hi All,

I am in discussion with an NRI (settled in Singapore) for buying his flat. The property is located in Bangalore.
As I read from several articles online, TDS deduction should be about 22% which in turn impacts my discussion with the seller.
Could anyone please explain me about the TDS calculation?

Hi,

I have currently 2 home loans going in my name. One of the properties is self-occupied & other is currently vacant. Interest outgo is more than Rs. 2,00,000 per home loan (even after considering notional rent for second property which is vacant). My question is, if I want to claim tax benefit on the interest paid, will it be 2 Lac for two properties combined or 2 + 2 i.e. 4 Lac for two properties ?

IN PROPRIETOR GST REGISTERD FIRM SOME BUSINESS MONEY RECEIVED IN SAVING ACCOUNT BY GOOGLE PAY
& TURN OVER GOES 16 LAC+.
NOW WHAT SHOULD I DISCLOSE IN ACCOUNTS BOOKS IN

does anyone have an idea about GST Rate & HSN Code for braille signages for bline people made up of acrylic sheets

Hi
Query mention as below :-

Capital Assets/ goods input is completely taken during the combined service and reversed within the next 60 months. Currently providing services that are fully taxable, so it's important to determine whether the capital input credit needs to be reversed throughout the reaming period.
Kindly give advice and suggestions regarding the right way of reversal input credit.

For example, capital assets purchased in 2018–2019, input took  in full, and reversal credit in the next 60 months .we are offering combination services until FY 2022–2023 and completely taxable services starting in FY 2023–2024. Can we liable for input credit reversals for capital assets during the Remain period?

Thanks in advance for your valuable suggestion

The General Body of Housing Society decided to replace 52 year old Otis lift with new lifts of Schindler, which will last for 25 years or so. Is it correct to treat the expense of 2.50 Crores as capital expense , which is liable to depreciation. GST is charged by Schindler on machinery and service to make it operational.

The Society is billing these capital expenses as repair and maintainance cost and adding it in quarterly bill and as total after such an addition is over Rs.22,500/ it is levieng Output GST of 18%. Is this correct position under accounting principals an GST Laws?

Circumtances in which GST department can freeze the bank account? What process need to be followed by department?