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Messages - ASRAO

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There is no prohibition under Income Tax Act upon cross gifting thus it can also be used as measure for cash deposits made during demonetization period.

Discussion / Assessments in the year of the death of the Assessee
« on: March 28, 2019, 02:09:30 PM »
In the year of the death section 159 will comes into existence and along with it section 168 comes into existence if property is not distributed to legal heirs

Discussion / Re: 54F
« on: March 28, 2019, 02:04:27 PM »
Section 54F exemption is given for promoting investment in residential house property and their is no specifications regarding investment in the Act, so it is allowed as per recent judgements of Apex Court

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