EASYOFFICE
EASYOFFICE
EASYOFFICE

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

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries