Kishor
22 July 2017 at 09:35
I made banakhat (Agreement to sell and buy on fulfilment of agreed terms and conditions) in F.Y.16-17, to sell my residential flat for Rs. X. Buyer paid me a part amount Y in F.Y.16-17 itself.
I paid one per cent of Y as TDS. ( Note carefully : One Per cent of Y )
Final sale agreement was done in F.Y.17-18 when buyer paid me remaining amount i.e.X minus Y. I paid TDS, in 17-18, at one per cent of ( X minus Y) . I gave possession of my flat to buyer in 17-18.
Total Long Term Capital Gain I got on sale is Rs. G.
Kindly advise me what figures I should write in my both returns as regards these (1) sale proceeds and ( 2) capital gains.
anish
20 July 2017 at 14:50
SIR
As per Income Tax provisions I Tax is to be paid on House Property Income. Barring one property chosen as self occupied, on other properties even if they are not rented income tax is payable on deemed rent income.
However for vacant commercial properties (in addition to one self occupied property) there is confusion. One view is that even if such properties are earning no rental income, Income tax is payable on deemed rental income. Another view supported by Tribunal judgement says the intention to let out commercial property is to be considered. If such property is put up for let out but tenants are not found house property income in this case would be nil and no income tax on account of house property income on such cases is payable.
Experts can you please clarify whether house property income tax liability in such additional vacant commercial properties arises, assuming there is already one self occupied residential property.
Siddu S
17 July 2017 at 23:27
Dear sir, I am planning to open Sukanya Samruddhi yojana IOB my daughter and spouse name jointly and I will be remitting subscription monthly to this account. Under this scenario shall get rebetion for subscription amount under 80 C or do I need to be joint holder in order get rebate?
Thank you.
ASIM
13 July 2017 at 21:16
Sir,
While e=filling return through ITR-I is it necessary to upload any document as the proof against the claim of rebate under chapter VIA ?
Please advise .
With Regard
Asim Das
meeranaineshmehta
13 July 2017 at 15:17
Is the amount received on sale of part agriculture land taxable.
meeranaineshmehta
13 July 2017 at 15:14
fess for rs 500 to be paid u/s 264 is to be paid under which heading in challan. pls reply and what is the format for filing revision under section 264 of income tax act
ajithkumar.t
13 July 2017 at 06:50
A chritable society formed by Govt of kerala for health services
Whether GST applies to the society
If it runs a pharmacy in house, what is the GST implication
Whether TDS sec.51 applies to the society
Whether Tender document sale and scrap sale any GST
Then what is the rate and how can they remit without registration
Sridhar
12 July 2017 at 09:30
Hi Sir / Madam,
I applied for change / correction of PAN application through Utiitsl..., I got the following email from them.
With reference to your query, you are requested to provide the change in father name proof i.e. from to (proof required such as publication of name change in gazette notification/ Annexure-A issued by MP/MLA/Municipal Councilor / gazette Officer only along with Issuer Official ID card) for further action at our end. You may forward scan image of the documents.
Please suggest that how to proceed and whom to contact whether it could be a CA or Lawyer
Thanks
Sridhar
Debasish
10 July 2017 at 16:48
Dear Sir.
we are planning for purchasing a land with home. this is a unregistered land & its cost Rs. 32 Lakhs. The seller want full money in cash from us, he doesn't want a single penny in a form of RTGS, NEFT, Cheque or DD.
My father is a retired person & the whole money is white & it is in bank in savings A/C.
Now please advise
1. can we do deal in cash (Rs. 3200000)
2. If we do the deal what are problem may arise
3. Please suggest the way to do the deal.
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Capital gain tax
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