Show sales and pay tax on it in Gstr 3b and show unregistered purchase

You need to pay tax without taking benefit of purchase

Dear Ashish, You can book a Flat and pay amount as booking amount to get exemption.

For taking full benefit of tax liability, Within a period of one year before or two years after the date of transfer of old
house, the taxpayer should acquire another residential house

Hi Ashish,

As per Income tax Act, in order to claim exemption, you need to invest capital gains proceeds in purchasing another property within next two years. Thus, if you can substantiate the purchase and other conditions are met, exemption can be claimed.
It is advisable to discuss the case with additional facts and take advise thereon.
Regards
Namita Agarwal
FinCheff Advisors LLP| Partner
MSME Business Forum India| Strategic Advisor
Mobile: +91 93545 62098
Email: namita@fincheff.com
https://www.fincheff.com/

Since the period of possession would be beyond 3 years from sale this might cause trouble to you in future although you can claim exemption today.

There's a concept called Unrealised Rent under Income Tax... which has few conditions as well to ensure it is not taxed.

If following conditions are satisfied, then unrealised rent pertaining to the previous year is to be deducted from actual rent of the previous year:

➣ The tenancy is bona fide.

➣ The defaulting tenant has vacated the property, or steps have been taken to compel him to vacate the property.

➣ The defaulting tenant is not in occupation of any other property of the assessee.

➣ The assessee has taken all steps to recover such amount, including legal proceedings or he satisfies the Assessing Officer that legal proceedings would be useless.

Hey Piyush,

Yes you can do that and can show it as Gift in consideration of amount transferred and not car purchased.

Kindly contact us @ 9825330911 in case of any further query

Yes, you can but you should make gift deed for that. For more assistance call at 7667559772

Yes, you can. For further assistance , please contact us

Mobile: +91 93545 62098
Email: namita@fincheff.com
Visit us at www.fincheff.com

Sec 54 applies on sale of residential property and 54F applies on sale of any assets other than residential property

Dear Sir,
You should rectify the return as both section deals with different type of property.

Capital Gain on sale of vacant allotted by housing society is it treated as Residential property or other than Residential property please clarify

Dear Sir,
Total payment made is Rs. 52 lacs whether interest part or not, all the payments made will be considered as consideration. Hence Sec 194IA will be applicable.
For more information call at 7667559772

Dear Sir,
Under Section 54 the IncomeTax Act, an individual or HUF selling a residential property can avail tax exemptions from Capital Gains if the capital gains are invested in purchase or construction of residential property. For the said exemption seller should purchase a residential house either 1 year before the date of sale/transfer or 2 years after the date of sale/transfer. Hence, in your case you can purchase new property in F.Y. 2022-2023 and thereafter only.
For more assistance call at 7667559772

Payment from UK account to Indian account has no tax implication, but payment to foreign account from Indian account needs ca certification in Form 15CB.
For more information call at 7667559772

The retrenchment compensation received by a workman is exempt provided that in general it does not exceed the sum calculated on the basis provided in Section 25F(b) of Industrial Disputes Act, 1947 or any such amount as is specified by the Central Govt. by a Notification, whichever is less. The maximum exemption is Rs. 5 lakhs where retrenchment is on or after 1-1-1997.

Dear Sir,
There are some conditions for retrenchment compensation:
The employee must be a workman.
The employee must have offered continuous service for a period of 240 days in the previous 12 months, which will be calculated as a year of continuous service.
Least of the following will be exempt from tax:

The amount of average pay provided to the employee
Rs 5,00,000
The actual amount received
For more assistance call at 7667559772

I need few clarifications. Please connect on 7045760379

Dear Sir,
First I need to know whether you are consultant or on employment basis. This will decide your income taxability. If you are consultant, TDS will be deducted @ 10% flat, without HRA benefits under head business and profession and there you can claim deduction for rent paid u/s 80GG
For more assistance call at 7667559772

If your company is not paying you HRA how will you claim HRA that's the basic condition.
If you need any further assistance feel free to contact me at canamanmaloo@gmail.com