Set off of house property loss from long term capital gain
This query is : Resolved
22 January 2019
I HAVE FILED ITR-3 OF AN PERSON THROGH COMPU OFFICE .WHICH HAVE HP LOSS AND LONG TERM CAPITAL GAIN AND BUSINESS INCOME ..SOFTWARE AUTO SETS OFF THE HP LOSSES FROM LTCG THUS TAX ON SPECIAL INCOME REDUCED BY THAT AMOUNT.. NOW DEPARTMENT HAS ISSUED A NOTICE THAT THERE IS DIFF. BETWEEN SPECIAL INCOME ...NOW WHAT TO DO ?????
23 January 2019
set off of HP loss against any other income is restricted to 2 lakhs only. You may have to recalculate your taxability in case of any non-compliance and response to the department along with additional tax liability, if any.
Message likes :
1 times
24 January 2019
HP LOSS IS ONLY 30000 RS. SO THERE IS NO ADDITIONAL LIABILITY WILL ARISE.
24 January 2019
Then it is within the proviso of the act. you may explain the matter to AO.
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
- TAN for Partnership
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- Free lancer income
- What is provisional receipt number for generation of form 16A
- TDS related Query_Liquidated Damages
- LTCG for Assmt year 26-27
- NON- SUBMISSION OF LLP FORM 3
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
