P
Prathamesh
I have purchased an under construction property. I paid TDS on this. I also took a loan from the Bank and paid TDS for that service too. While filing income tax returns, under which section do I mention this?
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A
Ashok
I bought 160 shares of reliance petroleum ltd (RPL) in 2003. i do not remember cost of purchase. the shares converted to 10 share of reliance. i sold all 10 reliance share in 2020. how do i fix the purchase price of share to file income tax return
From 31.01.2018, rules have changed for long term capital gain on shares. So you to ascertain the price of shares as on 31.01.2018 or the price of purchase of shares (which you can generate from your broker). Accordingly the tax calculation may be done. For more info please contact 9587334442. or mail at rakshit1192@gmail.com
CA Rohit Jain 1 Sep 2021to ascertain the price of shares as on 31.01.2018 https://www.caclubindia.com/share_files/equity-stock-cost-as-on-31-1-2018-nse-77424.asp
For more info please contact 99295-11888
P
Pranjal Shekhawat Shekhawat
No other source of income, how much LTCG be booked in a yr, wit LTC Loss of 3L Last year.
Is it 2.5L ( Exemption from tax slab) + 1L ( Free 1 lakh LTCG)+ 3L( Lasy year LTCloss setoff) = 6.5L
Please guide
Thank you
Last year LTCL can be carried forward if return filled on time. So basically last year loss taken care of then yes if can be set of and you can take benefit of 1 lac deduction under section 112A.Plus you can also take the benefit of Basic exemption limit of Rs. 250000 for the year. So overall you can take capital gain of Rs.6.5 lacs for year. For more discussion please call at 957334442
T&C applyK
K Baruah
I have received a show cause notice under section 74 of GST act which states that I have supressed GST. I am informed in that SCN that I have issued several ewaybills during april-September'19 period, on basis of which I am asked to reply the SCN.
I would like to inform that GST was at its infancy in Assam at that time, and most of tax officials even didnot have proper information. But on October'19 , the superintendent of taxes of my jurisdiction issued me a show cause for non filling of GST returns for 6 months and thereby cancelled my GST registration. After that I have filled returns. But their act of cancellation ruined my business and I could complete my supplies to the buyers in Bihar/Uttar Pradesh which resulted in cancellation of orders. Buyers stopped payment which is still pending. I am not in position to pay the huge amount which is demanded as per SCN.
Now, I want to know the following...
1. Can a state deputy commissioner issue SCN on inter-state supllies ?
2. Is calculation of tax, purely on basis of ewaybill (which was in its infancy at that time) as mentioned in the SCN is legally valid or discretionery on part the GST officer ?
3. Do I have to pay whatever amount the GST officer demands as per SCN ?
Kindly guide me on this issue.
Regards,
Dear Sir,
1. The officer is empowered to inquire on all supplies.
2. In relation to calculation of tax, there are several judgements which have ruled on both ways. Hence, the exact facts of the case are required to be known to be able to be of any assistance to you.
3. not at all. if you have abided by the law, then you are well within your rights to fight the SCN and thereafter the final liability would be computed, if any.
Please connect to me on 983 654 3836 further details.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
V
Vishnu
I have taken loan on 2016 for 35 lakhs for under construction building and took possession on 2018.
I opted for home loan transfer to another bank in 2018. Will I be still eligible for 80EE and claim the interest paid on the PRE-EMI ?
