Answers On Category: Income-Tax
In case of LTCG u/s. 45(5A) whether exemption u/s 54 be claimed by investment in a new residential flat within stipulated period made out of sale proceeds of redeveloped flat? Or is it mandatory to hold newly constructed flat for 3 year?
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The assessee filed the ITR 7 in Time But the assessee forget to file form No.10 before the filing of ITR. It was condoned by the commission of Income tax exemption. The assessee was assessed U/s 143(3). The AO determined the tax after disallowing the exemption to the tune of Income was to file filed in Form No.10. The assessee filed an appeal, The appeal was accepted by the CIT(A) because the Form No.10 was condoned by CIT Exemption. In the meanwhile the AO adjusted Refunds of various years to cover up the demand. Now the ITO is denied the…
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How to respond to unaccounted sales allegation found in case of search on 3rd party for fy 2122.approval under section 151 not taken for issue of this notice
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WHAT IS TIME LIMIT FOR ISSUE OF SHOW CAUSE NOTICE U/S 148A(b) FOR AY 2020-21 IN CASES OF INCOME ALLEGEDLY CONCEALED IS MORE THAN 50 LAKH
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Dear Sir AO has made addition u/s 69 of the I T Act for cash payment to builder based on material collected from the premises of the builder despite the fact assessee denied any such payment in cash also the builder has given in writing to the assessee confirming that no payment has been received in any mode other than two transactions showing in the letter which were made through Bank. Can you provide us the list of cases which were decided in favour of assessee.
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Sir, Any itr returns individual business and professional filed persons advantage and disadvantage new it act 2025 itr returns purpose 25-26
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Flat purchased in 1985 for Rs.10 lakhs. Sold in FY 2025-26 for Rs.1,13,00,000 after redevelopment in 2023.What will be the long term capital gains? Mr. Satish Mhadnak
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Jv with builder 1.9.24 half ground for one flat for me (owner) and 2 for builder with consideration of 1flat with 20 lakhs cash (bank transfer 5 trs during 2025) project to be completed 30 June 2026. Land is acquired by settlement deed of my father property 3.05.24 register value 40 lakh What would be my capital gain
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Residential Property transferred to legal heirs on 07/02/2019. It was given for redevelopment on 25/11/2022. No financial consideration/monetary benefit since it is redevelopment. Occupation certificate received on 05/08/2025. 4.77% Part of the property (Carpet area) sold in March 2026.What is the Tax applicable for AY 2026-2027 for ITR 2 form.
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LTCG u/s 45(5A) and exemption u/s. 54