Sir.
Me and my brother start partnership business5 year back .worked 1.5 and disconnected. Gst and bank also cancelled
There is no further financial transactions.
Let's is know how to cancell pan card of parnter ship firms.
Please advise.
Binu

Is indexation available for sale of land or building on or after 23rd July, 2024? If available then one like to avail capital gain exemption scheme then on which amount need to be credited in such scheme? Whether of capital gain after deduction of indexation cost or capital gain after deduction of without indexation cost?

I have cancelled the registered agreement for immovable property and have already filed 1% TDS to Builder PAN using FORM 26QB. Now if I try to claim refund through TRACES on checking the challan consumption it shows FULLY CONSUMED. Can you please suggest how can I claim refund in this scenario.

Sir,

If Rural agricultural land is in 3 names (father+ 2 sons). While selling, father wants to accept full money in his own bank account (because he doesn't want to distribute to sons at this point of time).

Can the father do that?

(Note - Full transaction through RTGS, no cash involved. Also the land is Rural Agri, so there is no capital gains tax anyway)

The AIS of sons will show the asset sale, so do the sons need to explain something in their ITR?

Thanks

Sir, the TDS provisions will apply only when the buyer of goods turnover exceeds of RS.10,00,000 in the hands of the buyer, else the sellor has to collect TCS - am I right sir ?

Hi All,

I am buying a property for 80 lacs. I have paid a token amount of Rs. 1,00,000/- to the seller on 2nd April 2025. Housing loan will be of Rs. 50 lacs.

The balance sale consideration will be pay in 3 instalments i.e. Rs. 9 lacs on 10th April 2025 and Rs. 20 lacs 15th April 2025 and the Sale Agreement will also be signed on the same day - 15/04/2025. Finally, the balance amount will be paid by housing loan directly by bank.

I will pay tds on payments to seller thru my bank account - as 99% to the seller and 1% to GOVT. thru 26QB...
but what about tds on home loan amount? how does it work?

My query is how tds paid on home loan amount? whether I should pay or bank will deduct and pay on my behalf?

Should I inform bank to pay 99% to seller and 1% to me (my sb a/c) and then I pay tds thru 26QB? This seems a proper approach to me. Please advise.

Does anyone have a format of letter to write to bank home loan department for such request?

Thanks
Niki

Hi All,

I am buying a property for 80 lacs. I have paid a token amount of Rs. 1,00,000/- to the seller on 2nd April 2025. Housing loan will be of Rs. 50 lacs.
The balance sale consideration will paid in 3 installments i.e. Rs. 9 lacs on 10th April 2025 and Rs. 20 lacs 15th April 2025 and the Sale Agreement will also be signed on the same day - 15/04/2025. Finally the balance amount will be paid by housing loan directly by bank.

My query is what date should be mentioned against "Date of Agreement / Booking" in Form 26QB for tds on token amount?
Whether it will be 2nd April 2025 or 15th April 2025 or any some other date ?

Will the "Date of Agreement / Booking" have to remain same for all future 26QB forms i..e subsequent payments or it will change after signing the agreement?

Thanks
Niki

Between old and new tax regime, are there any differences in tax benefits for employee incase he uses company lease car. Car belongs to company and is leased to employee for 3 years. Car lease is less than 50k per month.

INDIA HAVE DTAA AGREEMENT WITH NIGERIA? FOR F.Y. 2023-24

Any transfer of fund from partnership firm to partners is subject to TDS from 01.04.2025 ?