1> if partner get Remunerations from Firm, than it is fully taxable for partners ? or any examption from Remunerations. Remunerations is Rs.7,00,000. Which examption like (80C , 80D...) applicable from its Remunerations
2> if NA land is purchase at 1980 and now sell in 2023. than how to calculate LTCG ? IN ITR 3 indexion is from only 2001 so how can we calculate ?
31 July 2023
1. Yes, it is fully taxable. Said exemption can be claimed against it in OLD tax regime. 2. Get circle rate of the land from Sub-registrar office, or registered valuer as on 01.04.2001 and consider that as COA.
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