Lawful tax avoidance on revenue from landsale
This query is : Resolved
25 March 2018
Sir, My mother got Rs.39Lakhs from sale of land in her name before 6months. Full amount is shown in agreement stamp paper(as the purchaser had taken a loan for this purpose) As per our purchase agreement of this land before 5-6years..the price was Rs.4Lakhs. 1.When to pay the tax & how much would be the tax? 2.What to do with the proceeds for a perfect lawful tax avoidance? Any bonds or something like that? 3.Any GST compliance in this transaction? 4.she didn't file any returns till now. Whether she is needed to pay tax; if yes,where&how?
ALKESH T MEHTA
(Expert)
26 March 2018
There is only way to save tax is to invest in Sec.54 EC bonds & hurry up to take advantage before 31st March,2018.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- GSTR9 Annual Return
- Ito add credit side of bank
- GST ITC as per notification 12/2023- central tax
- Rent agreement of House of deceased person
- LLP audit and disclosure
- Form 144 TDS Return Validation error
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Applicability of tax on invoice
- Capital gain on commercial property and investment in residential property
- Import of Capital Machine
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
