In calculation of deduction under section 54F whether actual sale consideration will be considered for net sale consideration or 50 C will you will be considered
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The assessee entered into a contract with an architect firm to provide design, drawings, structural drawings, interior designs etc. for a project for a period of three years. Please advise as to whether the TDS would be made u/s 194C or O194J, If u/s 194J then what would be rate of TDS i.e. 2% for technical services or 10% for professional services.
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A family comprising of Husband (SK), Wife (N) and a minor son (S) was assessed to tax as a Hindu Undivided Family(SK HUF). The husband expired and the HUF continued with the wife as manager as the son was still minor. The minor had his own income also which was being clubbed with his father, and after the death of the father the income was clubbed with his mother. The wife(N) got remarried to a divorcee (Y) who is having 2 daughters from his previous marriage. S, the minor son of the deceased SK and N is now not having…
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The assessee during the year under consideration sold unlisted shares on 16.06.2017 taxable as LTCG and claimed the deduction u/s 54F of the Act on account of amount invested in Residential House Property As per department the assessee is ineligible to claim deduction u/s 54F of the Act as he owned two residential house property, apart from the new residential property. Assessee has executed registered agreement for assignment of the flat owned by him on 05.04.2017. The assessee has received more than 97% of the consideration as on 30.04.2017 and accordingly gave the possession of the said flat. Affidavit of…
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Assessee is Partnership firm of two person, father and son . Firm has assets which includes immovable property on which depreciation is claimed and also other current assets like stock in trade etc. On 4.07.2020, one of the partners I.e. father expired . Since there are no legal heirs , the other partner I.e. son become the proprietor of the business. Kindly guide whether provision of Sec. 9(b) and 45(4) are applicable and implications in the hands of sole surviving member in the family.
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My Form 4 is not accepting by new portal in the final stage of FORM4 submission . Shows reason " Invalid format of ARN" . I am able to enter payment details.(no option for challan attachment ). Asking for proof of withdrawal. Appeal pending with CIT(A). Even if attaching acknowledgement of submission on hearing and attaching that acknowledgement, showing error. Any specified format for APPEAL withdrawal proof on FORM4 .
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Ancestral Urban Agri. Land had been converted into NA Land in FY 2017-18 and ultimately sold in FY 2021-22. For the purpose of computing capital gains, while determining COA as on 01-04-2001, whose FMV is to be taken - i.e. applicable to Urban Agri. Land or NA Land? Also whether is it possible to take COA as on the date the Urban Agri. Land was converted to NA Land? Thanks.
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During the course of search/ Survey action some incriminating documents found which indicates assessee has received on money in cash in excess of Rs. 2lakh from flat purchasers. He surrender the same and paid the taxes. Whether penalty U/Sec. 271D can be levied on this on money taxed as undisclosed income.
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PROVIDE ME ALL THE JUDGEMENTS THAT ARE IN THE FAVOUR OF THE ASSESSEE WITH RESPECT TO JURIDICTION
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Search & Sezure action u/s 132 was conducted on 19.06.2018. Assessments for the A.Y. 2013-14 to 2018-19 were completed u/s 153A on 14.08.20121. Assessment for the Assessment Year 2019-20 was completed u/s 143(3). The Government has extended date from time to time to complete the assessment u/s 143(3). In the light of extended period what is last date to complete the assessment u/s 143(3) for AO for the Year 2019-20. Kinly inform about latest circular on the subject. It is also requested to please inform whether prior approval to select the case for scrutiny (part priod is searched period) is…
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Capital Gain Exemption 54F