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

Is there any new ammendment regarding income tax on leave encashment on superannuation of bank employees. It is heard that some people who are retired after 1.4.2018 are getting refunds on leave encashed on supernnnuation. Earlier PSU emplyees were not considered as govt employees for this particular purpose. Is there any revision on the upper limit as per section 10 10 aa which was 300000/- earlier.

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

I have income from salary, short term capital loss and intraday profit. I filed my income tax return for FY 2018-19 in ITR 2 where i did not separate intraday transactions from short term capital transactions. For the FY 2019-20, can I continue showing it without separating or should I show intraday profit separate from short term capital loss?

My father had purchased a Land through Agreement to Sale in Feb 2000 for R's. 1,40,000 and constructed a house later (no bills available). The property was in our possession since then. Registration was finally done in March 18 with FMV of property of R's. 43 lacs n stamp duty of Rs 3 lacs paid. Subsequently, my father passed away n property was transferred to my mother who sold the property in May 19 for R's 45 lacs. Few questions or clarification :
1. Date of acquisition should be in Feb 2000 and not Mar 18 and hence this is LTCG not STCG. Please confirm
2. I believe we should have a FMV as on Apr 2001 and then calculate the indexed cost of Acquisition till the time of sale for calculating LTCG.
3. Can we instead rely on FMV done in March 18 for calculating LTCG.
4. Even if we do FMV as on Apr 2001, What happens if Indexed cost of acquisition is marginally different than what was FMV as on Mar 18.
5. How to claim deduction of stamp duty of R's 3 lacs incurred in Mar 18. Should this be indexed as well?

Plz help.

Dear Sir,
As per Section 12AB of Income Tax Act, 1961, every trust or Institution which are already in existence will have to mandatorily renew the certificate granted under section 80G latest by 31st December 2020.
In Form 10A (available on-line) details of renewal of 80G are not there.
Please guide us in which Form number we have to apply for renewal the certificate granted under section 80G. Is it available on-line?
Regards,
K M Goyal