Anonymous
30 December 2020 at 16:22
Hi,
Me and my wife booked a flat(under construction) in 2017. On the sale agreement, both of our names are present. I have taken home loan and she is co-applicant for the home loan. Since the property price is greater than 50lakhs, builder (we paid to builder and builder paid to govt) paid 1% tds on our behalf and while paying tds, builder has given my pancard details only and the same details were present in my form 26as. I have paid the loan amount to the bank and have taken the NOC. Our flat construction is completed now and we are going for registration. I paid the stamp duty on my wife's name and am going for registration only on my wife's name as sole owner.
In future, Do we face any problem w.r.t registration or tds ( as the tds is not shown in her form 26as ) ?
Reposting it in (property law) category too
Harish
27 December 2020 at 21:25
My employer requested a Rent Agreement as a compulsory condition to get HRA benefit, where the rent agreement should clearly specify the duration of the period exemption is claimed i.e from 1st April 2020 onwards .
Now my query is - During the period starting from nationwide lock down from 24th March 2020 till Unlock 1.0 started from June 1,2020 - most of the sub registrar office and notary services were suspended so legal rent agreement work was NOT done in most of the courts/sub registrar office.
Want to know if there is any verdict from any court or any other law which provides exemption that if a rent agreement created on a later date can cover the entire HRA claimed period starting 1st April. What and how I should do to satisfy my employer condition of rent agreement with start date of specified period so to avail HRA benefit for the entire year.
Satyan manuja
27 December 2020 at 11:47
As per brief order of State commission as follows
No other point was raised during the course of arguments. It is a clear case of deficiency in service. The complainants cannot be compelled to wait for more time for completion of construction and development work and delivery of possession as the complainants have already suffered a lot. Resultantly, it is held that the complainants are entitled to recover the total amount deposited by them Rs.24,11,528/- with interest at the rate of 12% per annum from the date of respective deposits till realization. Keeping in mind the un-necessary harassment and mental agony, suffered by the complainants as well as the amount spent in this litigation, it will be justified to award an amount of Rs.25,000/- as compensation on account of unnecessary harassment and mental agony and an amount of Rs.10,000/- as litigation expenses. I received Rs. 24,11,528/- as principal amount, 20,96,472/- as interest and 25,000/- and 10,000 as mental agony and legal expenses.
Is there any tex liability because I heard that interest awarded by court now liable to tax https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=1439
KIndly guide properly.
Read more at: https://www.caclubindia.com/forum/income-tax-liability-on-court-order-567069.asp
Nirmal Lal
24 December 2020 at 13:55
We received our one fourth share in sale of ancestral property. The buyer also deposited the TDS on our share of amount he paid to us. We invested the part of receipts in NHAI Bonds. How to show all this in ITR.
Anonymous
17 December 2020 at 19:32
Can an NRI claim TDS deducted on NRO account by filing ITR in India? I think Form -2 an NRI has to fill for this. What if one had claimed and got the refunds, deducted on interest in NRO account in previous years, filling Form -1 and not disclosing the NRI status?
gurinder singh
17 December 2020 at 14:13
My mom is 82years old. She sold a residential property just now.
Can she buy new residential property in my name or my son's name and still get the benifit of capital tax exemption.
YATIN
29 November 2020 at 18:56
Sir
Unlike income tax act, HUF as a person does not have judicial status when immovable property is to be held. Accordingly I plan to purchase property from HUF fund but in my name & PAN in sale deed as well as title document. When I sale this property, whose title records will have my name and my PAN, AIR information in my ITR will have mention of this property. However the capital gains will reflect in HUF income tax returns. Thus though my ITR will have details of this sale transaction in AIR, it will not have any capital gains shown in my ITR while HUF ITR will have capital gains narration but no information in AIR.
What could be consequence of this discrepancy and how do I set this right?
Soumik Bhaduri
19 November 2020 at 20:48
Can a Non-registered society or association apply for PAN card?
If yes, what is the procedure and documents required?
Anonymous
18 November 2020 at 00:53
Consultancy Service is being provided as a PPP Expert(Public, Private Partnership Expert) to the Government of Andhra Pradesh and includes Procurement appraisal and advice on projects referred by the other departments to finance department of Government of AP. This service is provided on a full time basis to the finance dept. Can you please confirm whether services provided above is exempt from GST?
Thanks & Regards
Jawahar
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Oci and nri appointed as a trustee in indian trust
Hi legal experts,
I need some clarifications on the appointment of NRI and OCI holders in public trust in India, I am aware that this issue has been dealt with by the Income Tax appeals tribunal recently in the case of Global Academy of Emergency Medicine I.T.A. No.6291/DEL/2015, where it has a very clear interpretation of section 60 and 73 of the Indian Trust act 1882 and no impediment simply because you are an NRI or OCI holder and in this case, it was allowed to have NRI to be a trustee in the public trust.
I need some more reference and guidelines from the experts who can elaborate further as this case is a benchmark and may be a precedent for all future public trust registration where NRI / OCI is a trustee.
thanks