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Hari Konanur   15 November 2021 at 00:57

Tds on nri property

Namaste sir

I'm planning to purchase flat worth Rs45 lakhs in Bangalore from NRI seller

He is telling me that he purchased flat for Rs 25 lakhs around 13 years ago.

He quotes that he developed flat by investing on interiors.

So how much can i deduct TDS from 45 lakhs.
This deducted tds amount i need to pay to income tax department


rajesh singh   27 October 2021 at 14:34

30 years long lease stamp duty

i want to take 30 lease land on rent basis. first year rent is 1 lakh per acre and every 3 years there is 5% growth upto 30 years... what will be stamp duty and rent ?

Anonymous   20 October 2021 at 18:28

44ad or 44ada

real esate brokerage recd...23 lac.........income under 44ad / 44ada if 50%....11,50,000 sub-brokerage paid by chq.....15lac can we show income below 5 lac.....after audit..??? any other ...solutions / pre-cautions

Read more at: https://www.caclubindia.com/experts/ask_query.asp

Anonymous   30 September 2021 at 18:51

Long term capital gain

What will be long term capital gain tax on property purchased in 1970 and sold in 2021.

My father purchased residential flat at r
Rs 55000.00 in 1971 and I sold the same @ Rd 1.25 cr.

I don't know what will long term capital gain tax. I asked i t lawyer but not getting proper


padmaja p   23 September 2021 at 12:59

Tsd on donations

Sit, please let me know, is required to tds on donations paid to trust by donor.
Is there any provision on donations.

sasikumar   21 September 2021 at 13:15

Case law for against rule 36 of gst

Dear Experts,

I am requesting Please share there is any judgement order against the rule 36 of GST.

Naresh Gupta   05 September 2021 at 11:06

Income tax exemption

I retired from a CPSU. I was the member of pension fund of LIC under NHPC self contributory and post retirement benefit scheme( I have switched over to HDFC life on my retirement). At the time of switch over I had commuted 30% of my pension. Is this amount taxable or exempted under 23AAB u/s 10 of IT Act?

Naresh Gupta   05 September 2021 at 11:02

Income tax exemption

I want to invest the amount received from sale of land in 54EC bond jointly with my wife. I was the sole owner of that land. Will I get tax exemption if I invest it as stated above?

Anonymous   30 August 2021 at 20:48

Retainership or employment contract

Hello I'm starting my career fresh out of college and have landed my first job and this will be the first financial year I'll be taxed in. I work in the legal profession but have nothing to do nor have a very good understanding with finance and taxation laws as that isn't my area of focus.

On discussing my role with the company and their HR, a situation has arisen about the status quo of my hiring in the company and the higher ups have taken some time to discuss this internally and have told me they'll set a meeting up in a few days where all of us can then finalize on the offer.

Essentially I can be hired, either as a retainer where I don't accrue any employee benefits provided under the labour laws of India and get taxed at the source, making it much more transparent and presumably lesser or be taken on as an employee with all the benefits that come with it along with the taxes that are charged on the various aspects of my income whether they be bonuses or perks and allowances.

The income slab that I fall under is 15% of my total income above the lower threshold and an additional Rs. 37500. No matter how much I try to wiggle around I can't lower my slab with the available deductions so I'm genuinely confused as to what manner of hiring should I go forward with that will net me the most amount with the lowest taxation so I can focus on my savings. I also don't have any additional sources of income at the moment so the income from my job will be the only amount for consideration.

Any help, guidance and suggestions will truly be appreciated and go a long way. Thanks in advance.

4WhatIsRight   26 August 2021 at 08:21

Private limited company buying litigated property below circ

In 2012, a Private limted company bought a property for Rs.1000000 (ten lakh) and paid vide demand draft. Deed of conveyance was executed but couldn't be registered on that day. Seller returned the demand draft with a promise to get the deed registered and collect the demand draft at a later date. Thereafter seller refused to get the deed registered and handover physical possession of the property. Company approached court for specific performance of contract and got injunction on sale transfer of property by seller. Case is in trial stage. Now the seller has approached for compromise and offers to execute a fresh deed and handover possession for Rs.1500000 (fifteen lakh). market value for stamp duty is now (2021) Rs.2250000/-(twenty two lakh fifty thousand). What would be income tax implication for buyer company? How compromise process should be followed in this matter to avoid tax liability?

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