abhimanyu
30 April 2018 at 09:07
A sold a residential property IN 2017-18..THE PROCEEDS OF RESIDENTIAL PROPERTY INCLUDING CAPITAL GAIN WAS RS. 35 LAKH. THIS AMOUNT OF RS. 35 LAKH HAS BEEN UTILISED IN BUYING A PLOT WORTH RS. 50 LAKH (BY INVESTING RS. 15 LAKH FROM OWN POCKET. ) in 2017-18 itself that is BEFORE TIME FOR DEPOSIT IN 'Capital gains account scheme 1988" CAME TO END(which date is 31.7.2018).. NOW FOR CONSTRUCTION EXTRA AMOUNT WILL BE REQUIRED WHICH WILL ALSO BE SPENT FROM POCKET, The construction on the plot will be completed within 3 years.of selling the residential property.
Please advise.
1. WHETHER STILL CAPITAL GAIN IS REQUIRED TO BE DEPOSITED IN 1988 SCHEME
2. WHETHER CAPITAL GAIN WILL BE EXEMPT IN THIS CASE IF CONSTRUCTION IS COMPLETED WITHIN 3 YEARS
3. In case reply to query is "Yes" and AS CONSTRUCTION IS YET TO TAKE PLACE HOW PURCHASE OF PLOT WILL BE SHOWN IN INCOME TAX RETURN FOR THE YEAR 2017-18 TO CLAIM EXEMPTION AS THERE IS NO SUCH COLUMN.IN THE ITR FO
Swarupananda Bhowmick
26 April 2018 at 13:56
CESC Ltd. has submitted Bill for Rs.32.00 lacs in favour Board for mentioned in the bill "Bill for Service charges of HT Supply". please advice TDS is applicable and which section and pls. clarify.
Anonymous
25 April 2018 at 21:15
Want to know what is the gujarat high court fees to file appeal against income tax authority. Means court fees?
Tabish
22 April 2018 at 01:56
My parents run a school of which my mother is a principal. She is also working in a government school and earns 1.8lacs per year.
My father is working in a government aided college and earns around 4lacs per annum.
The problem is that we have to show the school imcome in ITR but as my mother is a government employee I think she cannot show it in her income.
But can my father, who is working in government aided college, include the income from school in his total income?
Actually I need to show their income taxable as I need some study loan.
There is one more option, please tell if its possible. We have some agricultural land also. I know agricultural income is not taxablw but is there any way by which we can include it in taxable income?
Please tell if any of the two ways is possible. Thank you.
manoj kumar saraswat
21 April 2018 at 23:21
a property wrongly shown in balance sheet of a assessee (capital also increased accordingly)since 4-5 years which is not really exists.his/her books of accounts are audited first time for A.Y. 2017-18. what are provisions of income tax act in this regard.
PURUSOTTAM PANDA
19 April 2018 at 18:57
Respected Sir / Madam,
An employee is getting INR 30,000.00 p.m. But, the employer is not deducting professional tax. Can the employee apply for enrollment u/s 6(2) of the relevant Act of Odisha Professional Tax? Will he / she pay the tax annually @ INR 2,500.00? If he / she does so, what will be the impact on the employer.
Thanks in advance.
Munish Kumar Garg
13 April 2018 at 19:06
Dear Sir,
I could not able to find the definition of Term Loan, so can anyone help me in this regard. As where I can find its inception and other related information as it is found in Union List, as per Constitution of India, 1950, as per Item No.38. But i failed to obtain its official Definition, so please help me in this regard.
Regards
Munish Kumar Garg
Rakesh
11 April 2018 at 18:11
Hi Team,
I need your help to understand that my bank has charged interest despite the cheque was not issued to the builder. As per bank, they have credited the loan amount to my home loan account, but they have not issued the cheque to the builder. Physical transaction did not happen from my home laon account to builder's account, Can bank take interest charge?
Best Regards,
Rakesh
Archana
07 April 2018 at 21:51
Hi,
I am a salaried person, working in a private organization. I want to borrow money from one of my friend who is a government employee. I am afraid if the tax will be deducted on this amount once I receive the money in my account. Kindly suggest how the tax will be charged.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Allowance in salary
Dear Team,
Can any one suggest me what allowances are exempted in this financial year from salary,as we have following allowances.
BASIC
HRA,
EDUCATION ALLOW.
CONV.ALLOW.
OTHER ALLOW.
also suggest what reimbursement we can give and up to what amount.
Thanks.
Rajan