Students
19 July 2013 at 16:46
If a person books a Flat in an under construction building in the year 2007 by paying Registration and Stamp Duty and gets his Flat Registered in 2007 and gets the Possession (by paying final Installment) of the Flat in 2012 and sells in the year 2012 ....Whether in the present scenario Profit on sale of Flat is Long Term Capital gains or Short Term Capital Gains.
Raghu ponnala
18 July 2013 at 17:20
hi
I own a agriculture land of 10 acres which is 14km from the nearest Municipality. But now HMDA (HYDERABAD METROPOLITAN DEVELOPMENT AUTHORITY) had notified our village under Maheshwaram mandal rangareddy district under HMDA Limits by G.O.Ms.No.33,dt:24.01.2013
by andhra pradesh government.
Now my question is if i am going sell my agriculture land i am exempt from capital gains or not.
Does my agriculture land comes under capital asset or not. because it is 14k from the nearest municipality.
YAGNESH HASMUKH DAVE
18 July 2013 at 13:12
HUSBAND AND WIFE CAN GIVE GIFT BY CHEQUE OR CASH TO EACHOTHER AND THEY INVESTED THE GIFT AMT IN FD OR SOME PLOT OR FLAT IF NO GIFT CAN BE GIVEN THEN ONLY LOAN CAN BE GIVEN TO HUSBAND AND WIFE PL REPLY
JAGANNATH RAO PARINAM
17 July 2013 at 11:16
Dear Sir
I have sold one plot of land in July 2012 and sold another house in 2013,My query is as under:
1.Can I deposit the sale proceeds from plot in Capital gains a/c before 31/07/13 and then utilise the sale proceeds from sale of plot and capital gain from house sale for purchase of only one residential house within the prescribed period under section 54 and 54 F .
2.or I have to buy two separate residential houses against each capital gain claim.
3. Can I claim exemption for two residential houses purchased against the capital gains from sale of only one house.
3. If ,yes then two new houses purchased should be in the same location or different locations in the same City.
3. or can the houses be purchased in different Cities.
Appreciate your pointwise clarifiction
PJRAO
mohit sharma
16 July 2013 at 20:14
Is it mandatory to file income tax return, irrespective of annual income?
SUKHVIR HOUSING AGENCY
15 July 2013 at 20:03
Thanks to All experts,
Kindly educate me on the following :
Mr.X sold his residential property vide Agreement for Sale on 30.05.2013 by receiving 20% of the consideration value, and the Buyer's Bank (thru whom buyer took housing loan) did disbursement of balance part part payment on 10.06.2013.
Since 1% TDS is applicable from 01.06.2013, so in such a case Is TDS applied on this Transaction as the Agreement was registered on 30.05.2013
your valuable suggestion is awaited.
vasudeo
15 July 2013 at 16:33
Respected Sir,
My cousin (NRI) has purchased a residential property in Taloja, Navi Mumbai in 2011 for Rs.11 Lac, now he wants to sell it at Rs.23 Lac.
Kindly advice the tax liability.
Regards,
Vasudeo
Member (Account Deleted)
13 July 2013 at 11:36
Is a Diplomat whose income exceeds Rs 10 lakhs p.a. but is not taxable, liable to file return ?
If he wants to file return of the past years, can he do so now or will he liable to any penalty, even if his income was never taxable ?
ashok thakker
13 July 2013 at 08:09
Sir,
My agreement for office have expired on April,2013,it had been negotiated and settled at an agreed rate per month from May'2013.I have deducted and paid TDS for the month of April'13,now my landlady as she could not procure TDS exemption from IT she said ,don't pay me till i get certificate from IT, As a deductor i am told i have to make provisions at new rate and deposit TDS against the wish of my Landlady. PL advise so i don't get into default.
regards,
ashok thakker
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Capital gains
Dear Sir,
I had sold one plot of land on 5/07/2012 and sold one house in may 2013. I am thinking to invest the sale proceeds from land in Capital gain a/c before 31/07/13.My queries are as under:
1. Can I buy a single residential house against both the capital gains as mentioned above.
2. or I have to invest separately in two different residential houses to claim the capital gains .
3. Can I purchase two or more residetial houses against sale of one property. i.e against one capital gain .
4.If yes, Can I purchase two houses in two different cities
I had ealier sent mail for this query but no reply from your experts
Thanks and regards,
PJRAO