Respected Sir, I have followng query: As per Finance (No.2) Act, 2024, as passed by Parliament, newly inserted Section 194T has been made effective from 01/04/2025. Whether it means it is effective from AY 2025-26 or it means requireemnt of TDS are applicable in respect of amount paid or creidted on and from 01/04/2025, i.e. from AY 2026-27? Thanking you.
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If house property is purchase in name of my mother(100% owner) and loan for purchase consideration is borrowed by me(son) , the sole borrower, how can i claim deduction of home loan interest u/s 24(b) of income tax act? And if stamp duty is also paid by me(son) , how can i claim deduction u/s 80C ?
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Assessee deposited capital gain in CGAS. But while purchasing the new property utilized amount from personal saving account. Are the unutiled amount CGAS is taxable
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Sir, It assessess own commercial property trading for cloth business maintained and assessess business part place government occupied for road extension purpose.if assessess business part place registered to government after some amount received. Question: Assessess received amount from government capital gain tax implications for it act.
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Respected Sir / Madam Request you to kindly guide on the following matter. The learned AO disallowed the deduction claimed by the appellant u/s 80IBA of the Act on the ground that the appellant had not fulfilled the conditions stipulated under section 80IBA of maintaining separate books of accounts for all the activities undertaken by it during the year under consideration and drawn the inference that appellant is maintaining common books of accounts for the entire plot only on the basis of perusal of Financial Statements .
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Sir, One of the it person new residential house construction estimate Value rs:1.50 crores Funds from bank loans rs:1 crores. Different persons each one @19,000/- total amount rs:50 lacs received for construction purpose Question: Assessess un secured loans huge rs:50 lacs amount received from different persons sec 68,69 provision applicable for it act.
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Whether non consideration of arguments submitted during hearing of the case amounts to mistake apparent from record and is amenable for filing MA before ITAT ?
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Assessment for A.Y 2013-14 was made u/s 143(3) on 01.03.2016. the case of the assessee was reopened on 08.04.2021 vide notice issued u/s 148. thereafter notice u/s 148A(b) was issued mentioning that EPF late. whether the case can be reopened under TOLA as assessment has already made u/s 143(3).
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My query is simply pertaining to a normal case where a society goes for redevelopment and enters into a Development agreement with the builder and members get larger flats for the same in the new construction. Query: Will section 45(5a) be applicable where we have to take the transfer date of the CC of the new flat as the year of declaring the cap. gains OR do we have to declare based on the date of signing the development agreement between society and developer OR the date when the member signs the agr for Permanent alternative accommodation with the developer…
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Sir, It would be really great if you could address my below issues: Facts are below: PART-1 Society goes for redevelopment and enters into a Development agreement in Feb 2013 (Registered agr with Stamp duty paid) with the developer. The existing old flats are all prior to 2001 and old. In April 2014, the developer enters into an agreement with each member for Agreement for Permanent alternative accommodation (Registered agr with Stamp duty paid) and member has to hand over their flats to the developer in 25th april 2014. (normal compensations of allowances, rent etc are all given) The New…
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Effective date as to applicability of Section 194T