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| How many days it takes to receive itat order after order are pronounced | |
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| Excerpt of query: | How many days it takes to receive itat order after order are pronounced |
| Indexed Cost of Improvements | |
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| Excerpt of query: | Hey, I have sell the property for after the indexed cost of acquisition there is a capital gain, but i have hold the property for 20 years and done lots of repair and maintenance but i don’t have retain those bills so how can i prove that do i can claim some cost of improvements. |
| Criminal appeals | |
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| Excerpt of query: | The accused was acquitted on ground of insanity in case of murder by high court. State prefered appeal to supreme court under Article 132&134 of indian constitution. Does the appeal is maintainable? |
| INCOME TAX ACT – APPLICABILITY OF SEC 112A | |
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| Excerpt of query: | WHETHER LTCG EXEMPTION U\S 112A BE CLAIMED EVEN WHEN THE GTI IS ZERO OR NEGATIVE IF THE LTCG EXCEEDS THE EXEMPTION OF RS 125000, WHETHER EXCESS IS TAXABLE OR THE ENTIRE LTCG? THANKS IN ADVANCE |
| Demand not cancelled from Income tax portal after VSV 2.0 settlement Form 4 issued | |
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| Excerpt of query: | Hi, I opted for Vivad Se Vishwas 2.0, I received Form 4 after completing all steps. But the Demand not cancelled from Income tax portal after VSV 2.0 settlement Form 4 issued. Interest is accumulating 1% on the demand every month. We have raised grievance on CPGRAMS. But JAO says, rights are not transferred to them by CPC and System doesn’t have capability to upload the VSV Orders. How to resolve this issue and interest and demand is increasing day bay day despite of settlement. Thanks in Advance |
| TDS u/s 194N – Cash withdrawal from Bank | |
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| Excerpt of query: | sir, A Client Is A Cooperative Bank. One Of Their Customer Ask Them To Deduct TDS Amount From SB A/C Instead From Cash Withdrawal Amount. For E.G., If He Withdraw Rs,1.2 Cr Cash From Closure Of Deposit. TDS Amount Of Rs,2.4L To Be Deducted From SB A/C And Remit The Full Amount Of Rs,1.2 Cr In Cash |
| Capital Gains on redeveloped property | |
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| Excerpt of query: | Capital gains exemption u/s 54 issue Facts of the case Purchase price (resale property) of property – 25 Lacs Year of purchase – Jan 2010 Stamp duty / registration – 1.1 Lacs Other cost of acquisition (brokerage / civil interiors etc) – 1.4 lacs Approx Cost of acquisition: 27.5 lacs (448 sq ft) Redevelopment undertaken in FY 21-22 PAAA signed and stamp duty / registration paid for addl area – Feb, 2022 Additional area allotted – 95 sq ft Additional area purchased – 75 sq ft @ 16,000/sqft registration value – 13.4 Lacs (incl GST, stamp duty & registration) Possession received in Sept 15, 2024 Total area (448+95+75) = 618 (possession recd in October, 24) Details Amount (approx) ICA for property acquired in Jan 2010 (448 sq ft, details above) (376/148) 70.0 lacs Additional area allotted (95 sq ft) – Additional area purchased (75 sq ft) 13.4 lacs Cost of redeveloped prop 83.4 lacs Questions What is the ICA of redeveloped prop and would it tantamount to LTCG if I sell the prop in FY26? Will the entire proceeds be exempt u/s 54 if the CG is reinvested in a new property worth, say, 1.8cr? If not, what is the min holding period of the redeveloped property for it to become eligible for exemption u/s 54? i.e. no LTCG / STCG payable. Should I disclose anything in ITR for AY25-26? The new property is unsold till date. |
| income tax query | |
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| Excerpt of query: | sir, Hospital run by non medico person will treat this as business income or professional income? I would like to claim 44AD but there is no option in ITR FORM wrt medical services under 44AD . Why we compelled to choose 44ADA in ITR FORM when owner is non medico person |
| Accumulation of surplus u/s 11(2) | |
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| Excerpt of query: | If the accumulation of surplus is not shown as appropriation in Income & expenditure Account, can the benefit of 11(2) be denied. I ran a ICAI Chat GPT query, and got the following cases Gujarat State Board of School Textbooks v. ACIT (Exemptions) [2022] 139 taxmann.com 155 (ITAT Ahmedabad) ITO (E) v. Chamber of Income Tax Consultants [2020] 117 taxmann.com 321 (ITAT Mumbai) Bharat Diamond Bourse v. ADIT (Exemptions) [2021] 127 taxmann.com 54 (ITAT Mumbai) I am unable to find the cases, hene this query |
| Applicability of DTAA Benefits on Capital Gains from Indian Mutual Funds | |
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| Excerpt of query: | Can we claim exemption/relief on Capital Gains from Indian Mutual Funds for NRIs in Saudi Arabia by virtue of Article 13(6) of DTAA with Saudi Arabia? |