Hello,

One of the important condition for availing exemption under Section 54F is that the taxpayer should not own more than one residential house other than the new property, at the time of the sale of the original asset.

What is the definition of residential house in the above condition? Does a residential plot (vacant land) is considered as residential house? For example, at the time of the sale of the original asset, if a person owns one residential house (residential flat) and a residential plot (vacant land with no plans of constructing the house or leasing the land in next 5+ years) and wants to invest long term capital gains in buying another residential house, will they be eligible for availing exemption under Section 54F? Please guide

Hello,

I'm inquiring about the Double Taxation Avoidance Agreement (DTAA) between India and Taiwan. I need to make a payment for technical services to a Taiwanese party and wonder if they can benefit from this treaty. However, upon my research, I found a treaty between specified associations instead of the governments of both countries. Can we still avail the benefits of DTAA in this case? Any insights would be appreciated. Additionally, if anyone has information on the specified associations mentioned on the income tax website, that would be helpful too.

Thank you.

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I have short term capital gains of 20 lacs and long term capital gains of 35 lacs for the current financial year 2023-24. Do I have to fill schedule AL in ITR?

Respected Sir/Madam,
Anyone have Format of Annual report of Societies Registration Act, 1860 of Haryana?? Kindly provide ...Regards

Sir, One of my client has received a SCN against FY 2018-19
from GST deptt.raising a demand of 50,000/- against Proportion of
commons ITC against exempt supply. Sir, my client has used his entire
ITC against his Supply only. No ITC claimed on exempted goods, No any ITC
against personal or any other use except his business purpose. How to proceed
with this said demand ?

Dear,

I want to know that what is the rate of GST in case of the supply of plastic product manufacturing services ? And its SAC code of 6 digit.
Further is it mentioned that all kind of job work service GST rate is 12% with registered user and 18% with unregistered user. Is It correct ?

Please share your views.

I am salary taxpayer, i opted New regime but intimation received rejected New Regime I want know why Income tax department not accepting new regime. I had been Filed belated return.

If Proprietor is receiving Comm. for selling goods (not storing goods) from outside India & in India, does he is liable for GST registration if commission is Rs 17.50 Lakhs

The assessee having turnover of Rs 1.50 crore but didn't file income returns for 19-20. Case taken for scrutiny in faceless assessment. The assessee did not respond neither filed the returns. Best judgement order passed. Now only the assessee wakes up and wants to file returns.
Can the experts advise how to face the situation please.