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Shailendra
I sold my grandfather's property (my father's share per grandfather's will) in July 2018. I received 50% advance. The property sale is not yet complete and this financial year is ending. The final settlement will happen in June 2019. Do I need to show the advance I received while filing income tax returns for this year. I have invested that advanced to purachase an apartment.
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Kindly refer sec 54F for tax exemption and answer of your query whether to show the advance recd in return is NO. Kindly contact me at mayank8118@gmail.com for more detail.
CA Utsav Khandelwal 13 Mar 2019If the property sold in house property than you can claim exemption under section 54 otherwise under section 54F. For further queery contact on 9549912646 or ca.utsav123@gmail.com
CA Naman Maloo 1 May 2019no you need to show it when the sale is complete i.e. in FY 2019-20. for further discussion you can contact me on canamanmaloo@gmail.com
T&C applyM
Moinuddin Shaikh
I want to sell my property and the market value is1crore and I'm selling it in8lakhs. So is there any problem?
Yes there is problem you have to pay tax on 1 cr subject to condition. for more details contact on 9708549709 & ca.abhishekjha@gmail.com
CA Utsav Khandelwal 13 Mar 2019Yes, the tax will be paid on whole amount received if other conditions not fulfilled. For further clarity contact on 9549912646 or ca.utsav123@gmail.com
T&C applyS
Srini
Section 80DD
Deduction under this section allowed to Resident Individuals or HUFs for a dependant-who is differently abled and– is wholly dependent on the individual (or HUF) for support & maintenance. for more details contact 9708549709 & ca.abhishekjha@gmail.com
T&C applyR
Ravindran S
Section 89 of Income tax act and Form 10E relates to arrears of Salary received from employer, while claiming relief u/s 89 in the Income tax return. If arrears of interest is received from a Builder through a Court Order, under which section should I claim relief and how it should be shown in the Income tax return.
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Dinesh Babu A S
I registered for Udyog Aadhar in 2015. I haven't active in business since today. How to make use of the same Udyog Aadhar & any GST to be linked ?
Benefits of Udyog aadhar is available for current running business. since you not start the business yet it not beneficial for you.
Yes udyog Aadhar is required to be update time to time.
for more details call on 9708549709.
Ca.abhishekjha@gmail.com
