may I show the total no. of appeal filed by the department
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My Mother had a Flat (460 sq,ft) on Ownership basis since 1984. Building went into Redevelopment in the Year 2014. Builder paid Stamp Duty only on Construction Cost Rs 1760/ sq.ft.(as the Law Prevailed in 2014), whereas Fair Market Value & Stamp Duty Value was 8600/ sq.ft Now which Value I Have to Take for Capital Gain Tax Calculations I have sold the Flat in August 2023. from 2001 as base rate or stamp duty paid value or market value as on 2014 (agreement yr)
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We have converted the rural agricultural land into non agricultural land in 2020 for the purpose of sale. I have received cash advance 300000 from the purchaser of land in the year of 2018( before convertion of agriculture land into NA land). Whether section 269ss or any other sections for penalty is applicable for cash advance of 300000. I'm in opinion that, advance cash received before conversion will be treated as advance against agricultural land which is not a capital asset. If I would have received advance cash after conversion of land, section 269ss or other sections for penalty will…
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Amount received on sale of shares received as ESOPS will be taxed as capital gain or any other head? If Capital Gain then what exemptions/deduction are available under sub sections of 54. Except 54F. Important points (1) Shares are of unlisted company (2) More than 24 months old (3) No amount paid during exercise of option.
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Our trust was incorporated in 2013. Trust was having 12A but not 80G. At the time of new registration U/s 12AB, trust has applied for 80G in Form 10A in April-22. Provisional order in Form 10AC was granted on 30.05.2022. Trust was not carrying out any considerable charitable activity from incorporation. Just primary expense like Bank Charges and Audit Fees etc. It was also managing one school. In that case we have applied for regular registration in Form 10AB in the month of February as the commencement of charitable activity and first donation both happended in the Month of October-22.…
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Facts in Brief • An individual will receive certain amount in F.Y.2023-24 on account of sales of shares received under ESOP. • The shares were received more than 24 months back. • The company is a unlisted foreign company. • The amount paid at the time of exercising the option for ESOP more than 24 months back was negligible • No amount was offered for taxation in the year of exercise for ESOP. Query • Taxability of amount which will be received in F.Y.2023-24 on sale of shares under ESOP • STCG or LTCG • Calculation of amount of gain…
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https://itatonline.org/digest/qa/the-new-surcharge-scheme-vs-x-auto-calculation-by-cbc/ Apropos /In continuation of earlier posted comments : Pending any FEEDback, no guess why so, invite attention to the supplement @ https://www.linkedin.com/pulse/new-surcharge-scheme-swaminathan-venkataraman/?trackingId=qR9y6OmmTKG1rFalXlUUFg%3D%3D To reiterate / repeat : The subject matter, as urged , deserves a joint representation to the FM/CBDT as a matter of prudence , based on common sense. Proactive steps need to be taken and pursued , relentlessly ,- both jointly and severally, to the end of a favourble outcome aspired for; in preference to postponing such action until after the CPC has started issuing 'INTIMATIONS' in the normal course /as a routine. For, among others, one…
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Property Purchased in the name of wife but all payment are made by Husband and housing Loan is also in the name of Husband, Now case is open u/s 148. What should be the course of action for proof of source of payment for wife ?
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The NEW SURCHARGE scheme provides for levy of SC on income-tax on total income in the range between Rs 50,00,000 to one crore (first slab), and above. For the said first slab the prescribed rate of SC is 10%. The computarised System in place (CPC), however, auto calculates SC , instead of @the respective slab rate depending on the ‘income range’,- on the rate applicable to over the outer limit of the slab. For examle , if total income in a given case exceeds the threshold limit for the next higher slab- one crore (to two crores), the rate applied…
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Hello, I have been staying in my pagdi flat since 50 yrs which is currently going for redevelopment. Total flats are 8. 2 flats of landlord, 1 of me, 4 flats in one name which are commercial and 1 flat also commercial. Total 8 flats occupied by 4 owners. My area is 750sq ft. What should be the majority for it to go for redevelopment considering 4 flats is of 1 owner? How much additional area will i get? Thanks
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may I show the total no. of appeal filed by the department