I recently sold a property and made a 1CR capital gains. I utilized 50L of it by buying a government bonds.

The remaining 50L I plan to put in capital gains saving account.

My question is how much tax will I need to pay if I could not utilize this money (within 2 years of selling old property) on purchasing new property?

We are in the process of winding up of manufacturing partnership firm. Can prior years business losses be adjusted into current years profit on sale of fixed assets? fixed assets like car, machinery etc....plz advise.

Thanks

Sir,
A gst registered regular scheme dealer e-load to different customers (tv channels recharge service) turnover rs:60 lacs in f.y.19-20 and f.y. 20-21 turnover rs:85 lacs.
Question:
Assessess two financial years it returns filed compulsory in it act.

Dear sir,
An amount showing wrongly in exampted income but it is taxable as per IT ACT FOR F. Y. 2019-20, we have received intimation 143(1)
For demand, by taking tax on said examted income so what we can do revise, rectify, or any other way

I recently purchased a property and deducted TDS @1% on payments made to Builder as per PAn provided by him.
On the details shared by him using for 26QB-Form 16A was issued to him.
Now he is requesting for change of PAN and wants Form 16A on revised seller PAN.
Can anyone help me on the process of revision?
Is there any timeline to perform the same?
Please guide accordingly.
Happy to share more information if required.
Thanks in advance.
Regards,
TS

Dear Sir,
Good Morning.
I did go through the reply / response by you with reference to the loss incurred on delisted shares LANCO Infra in which I have also invested in the years 2015-16 and 2018-19. I understand that I could incorporate the full amount invested by deducting only one rupee from the same.

I did invest/purchase LANCO for forty thousand rupees in FY 2015-16, thirty thousand rupees in FY 2018-19. The last traded date (with price) of LANCO shares in BSE is 12-September-2018 (Rs.0.42) and later shares are delisted/suspended.
So if I am incorporating the loss now for the assessment year 2020-21 (FY 2019-20), whether it is applicable as LTCG or STCG?

The one rupee present value to be considered as on Delisted date?
OR
Any other (applicable) dates?

I had a consultation last year (2020) with an auditor (in our area) who informed me that I could not book the loss in delisted or suspended shares and so I did not incorporate those invested amounts in ITR so far – for your information please.
Waiting for your valuable comments.
Thanks
Saji Ninan

can a company pay Rs. 10000/- per day for Two days and Rs. 5000/- Third day in installment .
can any recursion if payment made in cash by this method.

Date of allotment (booking) 31.07.2013
Date of agreement 31.3.2021
Agreement value -Rs 8.9Cr

Tds applicable on Rs 3.5 cr (payments which are made after tds on property applicable)
O/s payable due to dispute till date is 50L

How to make payment of tds on Rs 3.5 crore now and in which financial year and how to calculate interest if applicable ?

Interest on Home Loan deductions are available u/s 24 for residential house property and
Principal on home loan can deducted u/s 80C for residential house property.

1. Is Interest on Home Loan u/s 24 and Principal on home loan u/s 80C are available for purchase of land ? (vacant land, on which construction would be done after few years and which is not used for agricultural purposes).

2. Is Interest on Home Loan u/s 24 and Principal on home loan u/s 80C are available for purchase of land which is used for agricultural purposes.

Sir
My friend had purchased a property with cash rs 1,90,000 in f.y. 2019-20, DLC value of the property rs 2,30,000.
In income tax act, what is tax implications of such transaction?
Please guide