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Some of the queries asked by people are given below.

search case last authorisation on 5.10.2020
Excerpt of query:	a search was conducted on the client of a c.a on 5.10.2020. alongwith residence of c.a and a cash of rs 6 lacs seized from her locker who explained that it was her professional receipts. no other incriminating material found either from her office or clients office.no notice under section 153A or 148 issued to her till date. Please guide if department can open case now under section 153A or 148 section 153 b time limit is applicable on it or not.what time limit is applicable in this case. how can she claim her seized amount from department. Thanks in advance read more

search case last authorisation on 5.10.2020

Excerpt of query:

a search was conducted on the client of a c.a on 5.10.2020. alongwith residence of c.a and a cash of rs 6 lacs seized from her locker who explained that it was her professional receipts. no other incriminating material found either from her office or clients office.no notice under section 153A or 148 issued to her till date. Please guide if department can open case now under section 153A or 148 section 153 b time limit is applicable on it or not.what time limit is applicable in this case. how can she claim her seized amount from department. Thanks in advance

unused amount deposited in Cap Gain Scheme before due date
Excerpt of query:	1] if it pertains to section 54, what is the taxability after 3 years ? 2] if it pertains to section 54F, what is the taxability after 3 years ? can another flat be claimed against this in 4h year ? read more

unused amount deposited in Cap Gain Scheme before due date

Excerpt of query:

1] if it pertains to section 54, what is the taxability after 3 years ? 2] if it pertains to section 54F, what is the taxability after 3 years ? can another flat be claimed against this in 4h year ?

INTERPRETATION OF SEC 244A(3)
Excerpt of query:	Can additional 3% interest be awarded on IT Refund U/s 244A(1A) Rw 244A(3) abstracted as under– Sec 244A(3) —Where, as a result of an order under section 155 —– the amount on which interest was payable under sub-section (1) has been increased —— the interest shall be increased —– and the provisions of this Act shall apply accordingly.* * Which includes above referred sec 244(1A) also*** Kindly enlighten me in this regard Thanks read more

INTERPRETATION OF SEC 244A(3)

Excerpt of query:

Can additional 3% interest be awarded on IT Refund U/s 244A(1A) Rw 244A(3) abstracted as under– Sec 244A(3) —Where, as a result of an order under section 155 —– the amount on which interest was payable under sub-section (1) has been increased —— the interest shall be increased —– and the provisions of this Act shall apply accordingly.*** *** Which includes above referred sec 244(1A) also*** Kindly enlighten me in this regard Thanks

How many days it takes to receive itat order after order are pronounced
Excerpt of query:	How many days it takes to receive itat order after order are pronounced read more

How many days it takes to receive itat order after order are pronounced

Excerpt of query:

How many days it takes to receive itat order after order are pronounced

Indexed Cost of Improvements
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. read more

Indexed Cost of Improvements

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
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? read more

Criminal appeals

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
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 read more

INCOME TAX ACT – APPLICABILITY OF SEC 112A

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
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 read more

Demand not cancelled from Income tax portal after VSV 2.0 settlement Form 4 issued

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
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 read more

TDS u/s 194N – Cash withdrawal from Bank

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
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. read more

Capital Gains on redeveloped property

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.

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