if tax Audit applicable to sale of ancestors property for rs. 1.5 core
This query is : Resolved
21 June 2016
tax Audit applicable or not in following situations.
*if sale of ancestors agriculture land to 1.5 core .
*if purcheser has dudected tds.@1% ie. rs.150000 .how to get Refund this amount .
* how to file IT returns
plz give a clarifications
21 June 2016
if you are doing the business of property then audit will applicable , otherwise not applicable.
21 June 2016
no am not doing business, i.e. but i sold ancestors property to 1.5crore then
21 June 2016
then it taxable under the capital gain and if its agriculture land then its exempt . otherwise you have to pay tax if you not making any investment in residential property u/s 54F of income tax act
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Cloud service
- Credit note Issue reg
- Sale of Gold ornaments
- GST ON FOREIGN CLIENT
- Can we issue an invoice today
- SALE OF GOODS FROM OTHER STATE
- Conversion of Pvt Ltd Company to a LLP
- Applicability of RCM on Frieght Inward supplies received from un-registered person
- Expenses add back in profit
- Forgot to update debit note in gst
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
