Capital Gain: Details of Aadhaar number, PAN numberon sale of property in Capital Gain section(Both Short and Long). Additional disclosures of the date of purchase and sale of land and building. Foreign AssetsSchedule FArequires reporting of foreign assets held and foreign income earned during th...
From 1 April 2018. the long term capital gain of more than Rs 1 lakh on the sale of equity shares or equity-oriented units of the mutual fund attracts a capital gains tax of 10% and one cannot use any indexation benefit. For example, I bought 10 shares of company XYZ for Rs 10,000...
Hi all,It was a pleasure to talk to you on my Facebook page yesterday, and answer your income tax and tax saving investment related questions.I am glad that I could be of help, and we would definitely have more such sessions before the end of the investment season. A background …[Re...
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Conditions say that for claiming exemption, the government will specify banks. It means only those who have pension accounts, plus having interest income from such specified banks will get the benefit of the same. Arjun (Fictional Character):Krishna, what should taxpayers learn from this?
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), held that Capital gain exemption could not be refused when an investment is made within the due date of filing Income Tax Returns (ITR). The taxpayer, Munish Babaji Sawant sold a residential flat, but the capital gain that ...
(d) Income from any source outside India (Dividend, interest, or capital gain). "Any non-disclosure of the above information in the ITR may result in levy of penalty of Rs 10 lakh under Section 43," says Wadhwa. Sometimes individuals are o...
Capital Gain on sale of property. Gift Cases Other Sources Order Now PLAN C Foreign Income Included ₹ 4,499/- EVERYTHING OF PLAN A+B & Income earned out of India NRI or NRO cases DTAA Guidance Order Now Pricing for Small Business For Individual Self Employed, Freelancers ...
Any loss made in a capital asset sale can be carried forward in IT returns. However, keep in mind that capital gain loss can be settled against capital gains only. Recommended:How to Download Income Tax Return E-Filing Software? Hence it is paramount to realize that instead of getting sadde...
>> Where borrowals transferred interest free to sister concern for purchase of land for business of company and brand name, interest on borrowed capital allowable u/s. 36(1)(iii) : *Dy. CIT v. Sophisticated Marbles and Granite Industries (Delhi) p. 220* ...