Can you pls. answer my query , Since We purchased flat @ Rs.60,00,000 with co-owner as (wife) with equal 50% share after selling Listed shares along with equity based mutual funds & obtained certain LTCG both individually and only I paid stamp duty/registration charges & brokerage etc. about Rs.565,236[445,236+(120,000 brokerage)] on whole full amount of the cost of flat . Here it may be added that we invested partial amount, means less than net sales considerations each. Can we avail exemption in sec 54F partially against long term capital gain each individually and please reply, can we claim/get exemption in…
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Whether you can declare rental income in your own name when the property generating such income is legally owned by your father, and under which statutory provisions and case law such a plea would be examined. Also, whether any exemptions or legal avenues exist to support such a claim, and why such a plea is unlikely to sustain under Indian law.
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The Sale of 15 years old Rural Agricultural Land is not being covered in the ITR. My Question: Is this becomes taxable due to Non-Disclosure...? and Any Penalty is Applicable for Non-Disclosure...? Any other Consequences possibility....? Please Clarify. Thank You.
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Our client is a sugar manufacturing company. It has entered into a contract with 3 buyers for selling sugar of 50,000 Tonnes at a fixed price. Those buyers have roped in another buyer for 20,000T out of this 50,000 T, which is a transaction purely amongst the buyers. This new buyer deposited a hefty sum with our client on the advice of original buyers for lifting the quantity of 20,000 T but ultimately lifted only 10,000 T. Hence the original three buyers lifted the balance 10,000 T, to complete the contractual quantity of 50,000 T which they entered into with…
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How can I download the complete case law for further reference?
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My father made HUF with eldest son karta and died 24/9/2003 Will probated with HUF detail in Mumbai high court 2004 before act of 2005 daughter rights in property. Two married sisters not member or karta of HUF . can they ask for HUF detail as how money spent from HUF even will approved by High court in 2004 before act of 2005.
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I am selling my house. If I make a separate agreement with buyer and show that interior and furniture cost is around 8-10 lakhs, whether I need to show bills if IT dept sends notice? Whether I need to mention all items and their cost or i can just mention Interiors and no mention of cost in Sale agreement?
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I have seen that dtvsv form issued last Thursday.. but when clicked inside it still showing awaiting signed form 4 from CIT I CAN'T understand.. whether it is considered as form 4 issued or not
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The Ld AO has initiated penalty proceedings u/s 270A and the operating para reads as under:- " Whereas in the course of proceedings for the Assessment Year 2019-20, it appears that you have under-reported income which is in consequence of misreporting thereof as per details given in the assessment order." Whether the same is considered to be under reporting or misreporting of income?
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Whether in case of donation to political party if the case is taken for assessment or reassessment & the A.O. decides to disallow the donation made & initiates penalty u/s 270A whether the same will be leviable for under-reporting /misreporting i.e. 50% of tax payable or 200% of tax payable. Whether it will be the amount of tax & surcharge only or it will include the amount of interest.
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Regards exemption of stamp duty & registration charges towards flat purchased after selling Listed shares and mutual funds as per Section 54F in Income tax