If a person is constructing one house property in his own name and one house property jointly with his spouse simultaneously , can he claim exemption u/s 54F for capital gains arising on sale of land? Whether exemption u/s 54F is allowed for the property which is constructed in his own name?

The Proviso to Sec 54F states,
"Provided that nothing contained in this sub-section shall apply where— (a) the assessee,—
(i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or
(ii) purchases any residential house, other than the new asset, within a period of one year after the date of transfer of the original asset; or
(iii) constructs any residential house, other than the new asset, within a period of three years after the date of transfer of the original asset.

Will the Joint construction of house property with spouse amount to construction of a house property other than new asset impacting (iii) above?

Sir, we are agents for a german company.
Following is the situation :
1. We shall import an item and do high sea sale to one of our buyer in INDIA.
2. We are billed by our supplier say at Euro 100.00 My Salling price is say Rs. X+GST equivalent to Euro 105.00
3. Now our buyer will pay duty on Euro 100.00, is it Ok. Will Customs every ask for duty on Euro 105.00
4. As the bill of entry will be in the name of our buyer, will bank accept the same while we have to make payment to our supplier in foreign ex-change.
5. If we ask our supplier to bill us say @ Euro 105, than how would we get difference of Euro 5. Will it attract GST or any other tax.

If a person is constructing one house property in his own name and one house property jointly with his spouse simultaneously , can he claim exemption u/s 54F for capital gains arising on sale of land?

Whether exemption u/s 54F is allowed for the property which is constructed in his own name?

Regards.

hi,

can anyone provide me MOA or main objectives of management consultancy services.

Regards,
Dipti

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Dear Friends,

I have received some shares from mother will in the year 2013 and Demat them in the year 2019.

But the accounting entries was not yet done in the books of account.

In the year 2020, i have sold some shares and received money in my bank account.

Also i have submitted my final accounts under ITR-3 for the assessment year 2019-2020.

I have no value of shares in my mother file so what procedure should i take ?

Please let me know

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1)Property is registered in my grandfather's name (after the death of my grandfather property automatically transferred to his sons)
2) as we have a joint family and electricity bill used to come in my uncle's name.
I have all other required documents that are
1)PAN
2)AADHAR
3)VOTER ID
4)BANK ACCOUNT
only facing problem to arrange utility bill.
please guide me regarding this so that I may able to have GST registration and start my business as soon as possible.
Thanks

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