Dear Sir,
We are consisting of five brothers made joint agreement with the developer for developing our 200 years ANCESTRAL PROPERTY and accordingly the developer agreed to pay lump sum amount in 3 instalment and the developer already paid adhoc payment on a equal ratio i.e. 5 lac each of the co-sharer and accordingly they are invested such amount in PM Barista yojana plan in Bank, remaining 2 instalment are yet to pay and the developer also agreed after completion of the project 5 flats also be distributed among them.
Now our query is whether capital gain will raise in near future for receiving adhoc payment and flat from developer? and if yes ,what is the procedure to calculate of Capital gain if occurs or to get rid of capital gain on development of ancestral property .Please reply
Thanks
Buddha deb Das

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Hi, ITR was filled by clicking pay later and post submission immediately paid challan.. Received demand notice to pay tax. Mistakenly selected demand is correct and attached challan of tax paid. Now it is showing to pay tax along with interest. Raised grievance, they asked to file revised return if challan is reflecting in 26AS. tried to revise the return but even in return due to system error it is showing interest payable post paying complete tax within due dates. Please suggest

for Transfer pricing company ,
which is due date for filing of Tax audit report and ITR .

Sir,
Sec 44ada It assessess f.y.19-20 it returns filed.some income transaction not showing in f.y.19-20.
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139(8a) provision eligible in f.y.19-20.

Sir,

During the financial year 2021-22, I have paid Rs. 250000 as professional tax to the panchayath by cash as they were not accepting payments other than cash mode. Whether this expense was allowable under the provisions of income tax act. Whether this payment covers under provisions of Rule 6DD. Please clarify sir?

Dear Sir/Madame:
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Kindly Advise. Help Appreciated.

Dear Experts,

I need some help on filing rectification for AY21-22. I have recently received a notice for demand under section 156, which needs to be responded within 30 days.

Earlier, I had filed rectification in the incorrect section "Tax credit mismatch" instead of "correction of details and therefore could not update details of my tax payment and requisite challan.

This tax was actually paid within a few days of filing the original return for AY21-22 but is not showing in the return

Please advice on how I should update this tax demand and requisite challan no. in the revised rectification, which I intend to file now.

Also, is there any mail id where notice for incorrect demand can be replied to, as they do-not reply to any grievances.

Thanks a lot.

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Thanks & Regards

Can anyone get the deduction u/s 80C if he/she pays the life insurance premium for his/her dependent brother or sister’s life?

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