R
Ray
Is FD of a partnership firm taxed? What if the FD has not been broken yet? And will the remaining balance in current account be treated as profit?
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Amount of FD is not taxable only interest on FDR is taxable .
for addition discussion you can reach me on ca.rahuldwivedi@gmail.com or 9004485377
T
Tejashree
Is forex trading only allowed for business purposes?
Please clarify the query specifically.
you can open the demate account & trade in currency derivative.
D
Durvesh Mate
Is doing arbitrage trading but using USD to buy on international exchange and get INR while selling on indian exchange is legal ?
there is violation of FEMA
If not what would be the
Tax
P
Piyush Chouhan
Hi, I sold a residential property on 08/06/2019. long term capital gain calculated 35 lacs is deposited in capital gain account.
Can i use 25 lacs in purchasing a residential plot and remaining 10 lacs in construction of house on same plot.
If yes, can I purchase that plot after 08/06/2021 (late purchasing due to lockdown). And construct house before 08/06/2022.
Please Suggest for exemption on capital gain tax and penalties.
What can i do before and after 08/06/2021 ?
Ready to move house of my choice is not available.
As per Section 54 exemption can be claimed for construction of New House within the period of 3 Years. So you can purchase & construct the same before June 22 to claim the exemption.
For additional discussion consultation you can reach on ca.rahuldwivedi@gmail.com or 9004485377
G
Ganapathy Ramachandran
Hi I would like to know how capital gains is calculated when rights entitlement (RE) is sold through stock exchange? What would be the cost of acquisition of the RE and how to see whether it is a long term or short term capital gain? Whether we should take the date when the original shares were bought or date when rights issue was announced? Thanks
The Cost of acquisition of Right Entitlement is considered as ZERO. The capital gain is determined on the basis of holding period of original shares & accordingly LTCT/STCG will be calculated.
T&C apply
