kumar
28 July 2012 at 16:27
sir if i invest capital gain amount in any new residential property then how to calculate invested amount.
registered amount of purchase 900000
+ stamp duty 50000
+commission to dealer 40000
+ other travelling exp etc.2000
please guide me.
kumar
28 July 2012 at 16:23
sir
i have earn appx 6lakh capital gain in 2011 by sell of a residential flat in delhi. and i have one more house in delhi on which only ground floor is constructed in 2007. now i have construct first floor in that house by spending appx 6.5 lakh. construction is 99% complete in 2012 may. now i want to get exemption in my capital gain against this construction.
but the promblem is that i donot have any valid bill for purchase of material and labour charges paid to labour. then how i will proof this cost 6.5 lakh.
please advise me.
subhash bajpai
28 July 2012 at 14:39
I have a Sons beneficiary Trust whose income is more that 2lacs. whether deduction u/s 80C can be claimed in the trust. and which form of return should be filed? pls help
anish
27 July 2012 at 23:27
Sir
I already own one residence. Now for trading purpose i want to purchase another residential flat in my personal name.Can i show this another flat as stock in trade so that i do not have to incur wealth tax liability? if so how do i convert this flat as stock in trade which i will purchase in my individual capacity?
ashim mandal
27 July 2012 at 17:43
Sir,
I want to open a capital gain account with a bank so that i can purchase a property in next 2 years. I would like to know the taxation rules if the whole amount or part amount is utilized. I sold a property on Dec 2011 and planning to open the capital gain account this month.
I would specifically like to know if the tax on un-utlized amount would be for AY 2012-13 and tax will be based on original amount plus interests with a penulty or not. You earliest reply would help me in filing IT return. Thanking you in advance.
shailendra kumar
27 July 2012 at 12:00
I have sold village land in a district in UP. How can I know whether capital gain tax is due i.e. whether the land is within notified 8 km or not from Municipal boundry? What was market value of land in 1981 when base of index was 100?
Can I get answers to these querries through RTI. Whom should I address RTI application for these items?
RAJESH CHOUDHARY
24 July 2012 at 12:54
An assessee died after completion of financial year (in May 2012), he has lot of capital gain. His representative has to file IT return, can his representative invest money in capital gain account scheme u/s 54B and 54F to claim exemption in his (assessee) name? If not then what is remedy available with representative to save tax?
Himanshu Binani
24 July 2012 at 10:13
Dear Sir/madam,
An assessee has received some loan from some person on which no interest has been charged by the party. Can the A.O treat the same as gift received and charge it under other sources. OR
There is no problem if the loan taken is shown in the books without any interest liability.
Thus it arises an important question that whether every loan taken or given has to bear interest.
Abhishek Mawle
23 July 2012 at 22:04
My mother had filed a tax evasion petition against our neighbor with the income tax department subsequently she also filed RTI to know the status of the same but the Assistant Director of Income tax has denied the information vide notification dt 27/03/2008 that office of director of income tax investigation is in the second schedule of RTI act hence provisons of RTI act are not applicable to his office as per sub section (1) of section 24 of RTI act.Please advise how can we get information.
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Capital assest and exemption
mrs A has exchange a gala in the same premises . from this traction she gain long term capital gain.
her brother in law want to book the flat under the re development project . can mrs A invest the long term capital gain in her brother in law's property(intend to purchase flat under construction through re development project) . if this traction will be carried out ,then mrs A will be co-owner of that property.
how to determine the percent of shares of ownership right getting by mrs A and his brother in law?mrs A has exchange a gala in the same premises . from this traction she gain long term capital gain.
her brother in law want to book the flat under the re development project . can mrs A invest the long term capital gain in her brother in law's property(intend to purchase flat under construction through re development project) . if this traction will be carried out ,then mrs A will be co-owner of that property.
how to determine the percent of shares of ownership right getting by mrs A and his brother in law?