Hello,
Can you please suggest a depreciation rate for Modules made from LED panels.. which are used to display electronic advertisement.

Please guide tax treatment on redemption of proceeds of recurring deposit and interest income

NRI PURCHASE N A LAND IN INDIA TAXABILITY IN INDIA
NRI SOLD N A LAND N INDIA AFTER 3 YEARS TAXABILITY THEREOF

My IT return for FY 2017 - '18 included the following house properties:

House A - Self-occupied, purchased with housing loan,
House B - Deemed Let-out, purchased with housing loan

The scenario during FY 2018 - '19 is:

House A - sold in Jun '18, resulted in Long Term Capital Gain of Rs. 15 lakh,
House C - purchased in Aug '18 for Rs. 30 lakh with own contribution of 3 lakh and housing loan of Rs. 27 lakh,
House B - remains Deemed Let-out.

In view of the above, can you please let me know the following information?

1. Cost of C was higher than Capital Gain from A, and C was purchased soon after sale of A. Although C was purchased with housing loan, hope I can avail the capital gain exemption under Section 54 (as per many judgments of tribunals/courts). Can you please confirm the same?

2. Agreement date for House C (ready-to-move) was 10/07/2018, major/full payment date 25/07/2018 and possession date 04/08/2018. Registration not yet done due to some issues at developer's end. Which date should be considered as date of purchase/construction? Is it possession date or some other date? Can section 54 exemption be availed even if registration not yet done?

3. House A was self-occupied for 3 months before its sale and House C self-occupied for 8 months during the FY.
I am not sure if I need to show both House A & C in 'Income from House Property' head for IT return FY 2018 - '19 i.e. AY 2019 - '20. Shall I consider House A as self-occupied and House C deemed let-out? Or, can House A be deemed let-out and House C self-occupied, as Gross Annual Value is much higher for House C (and hence more deduction if it's self-occupied)? House B is deemed let-out as before.

this is for my one client.....



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If an resident assessee of India has business in Australia and he earns profit there.
How to disclose this transaction in Income Tax Return.

Hi
Every One

our ultimate final product is tax free goods, first we have show ITC on purchased in GSTR 3RB, and then reverse same in said GSTR-B for the financial year 2017-18

My questioned is that whether we need to show ITC on Purchas in Table No. 06 of GSTR 09 and then reversed In Tabale.no. 07

A Partnership Firm enageged in Real Estate Agent Services, received Commission of Rupess 1,25,00,000/-
So whether tax audit mandatory?