Hello sir,

My name is Tushar Chaudhari.

I have to clear my loan, so I am going to take 10 lacs from my brother. I am going to repay the whole amount to my brother in future. As per Gift Tax Act, the amount I will receive from my brother is not taxable to me but I want to clarify that should I show it in my ITR as 'Exempted Income' or should I do a loan deed?

Your response will be very helpful for me.

Thank you.
Tushar

I have 2 pan card and TDS Deduct in old pan card and addhar link with new pan card , tell me how can I claim TDS of last 3 year , I have not file any return till now..

I am creating an AOP. It will remain unregistered. I have to apply for its PAN. The nature of the business will be sale of commericial property. Can you send me the format for deed to be prepared for formation of AOP
I will be very thankful to you for the same.

My Mail id is shivangisharda10@gmail.com

We have paid challan of TDS for particular month and while filling details for quarterly returns of TDS, we have found out that we have paid excess amount in challan. My query is how to adjust the amount. I want to know the procedure we have to follow as per law. Kindly solve this query.

I inherited residential property in 2016 from my father that he built in 1980. Cost of acquisition of Land as of April 01,2001 is Rs.6.70Lakhs. Cost of construction of building as of April 01,2001 is Rs.13Lakhs as per property valuation report. Now in 2021 I want to demolish the current building and reconstruct 4 floors using my own funds. Out of these I'll sell 3 floors in 2022 and retain 1floor. Stamp duty value of sales consideration for each floor would be Rs.63Lakhs therefore total sales consideration would be Rs.1.86crores. Cost of construction for new 4 floors would be Rs.1.20crores. Current stamp duty value of Land is Rs.90Lakhs.
What would be my capital gain tax liability when I sell 3 floors? Is it going to be long term or short term capital gains?
Am I allowed to claim exemption on both land and current building indexed value, also cost of improvement by constructing a new building?
How can I bifurcate land and building cost in sale deed and how can claim LTCG on undivided land share and STCG on building construction share?

Dear All Experts,
One of my client sold a plot/land during the Financial Year 2020-21. This property was gifted to her husband from Govt long back (Before 1980).
After the death of Husband this plot/land transferred to her Name. She has deposited all amount (sales consideration) in capital gain account scheme.
She already have two residential houses. Can she claim exemption? In which section?
Kindly suggest.

SIR
Charging TCS in invoice is compulsory or enough to charge it in invoice to the parties whose value exceeds Rs.50 lac in a year ?
Plz guide me sir
thanks in adv

Sir
Please comment on the taxability of the following;
Travelling allowance recieved on the basis of actual journey for the performance of the duty.
Eg: a field officer or employee claimed for re-imbursement of expenditure incurred for travelling and there is a maximum limit for such expenditure.

In the original Income Tax Return the correct income. Was not reported but in response to Notice U/s 148, the correct income was reported, however the Tax Payment was done earlier before receipt of Notice u/s 148. Whether penalty u/s 271(1)(c) can be levied by Officer ?
Any judgement in favour of assessee ??

I HAVE SOLD A PLOT IN JUNE 2017 HAVE CAPITAL GAIN THAT DEPOSITED WITH BANK OF INDIA IN CAPITAL DEPOSIT ACCOUNT. CAN I PURCHASEN IN JANUARY A FLOOR IN NEW BUILDING AND GET TAX EXEMPTION IN MY ITR 21-22. IS THERE ANY OPTION OTHERWISE TO EXEMPTION CAN U SUGGEST ANY EXPERT IN THIS FIELD IN DELHI HOPE EARLY REPLY