Purchase of site

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raghavendra b (Querist)
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20 January 2024 dear sir,

one of my client purchased one site by availing gold loan of about 3500000/- by in his son's name and also his son availed gold loan as well as same as his father. the site will be registered by his son's name. my client also gst dealer and bank appraiser.

this kind of transaction is correct and might be a source of income for purchasing land.

thank you

regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 January 2024 This kind of transaction is right the loan receipt should be through banking channel.

raghavendra b

raghavendra b (Querist)
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21 January 2024 thank you sir,

gold loan must be through banking channel, total site value of consideration is about 80lakhs the selling by is in joint name filing 26qb in name of seller and co seller sould be deducted in percentage of share in property. what is due date for filing 26qb.
regards
thank you sir,

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 January 2024 The Due date of filing Form 26QB is within 30 days from the end of month in which the tax deduction is made.

raghavendra b

raghavendra b (Querist)
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21 January 2024 THANK YOU SIR,

ANOTHER ONE QUERY I HAVE FORGOTTEN TO ASK, ONE OF MY CLIENT SOLD AGRICULTURAL LAND AND INVESTED IN ANOTHER AGRICULTURAL LAND REMAINING INVESTED IN DEVELOPING AGRICULTURAL LAND LIKE FENCING, EARTHWORK, LIKE, QUERY IS THE AMOUNT RECEIVED FROM SELLING AGRI LAND DID NOT DECLARED IN ITR SO IS THERE ANY PROBLEM.
CAPITAL GAIN ON AGRICULTURAL LAND IS EXEMPT INCOME.

REGARDS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 January 2024 Exempt income no problem.

raghavendra b

raghavendra b (Querist)
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22 January 2024 thank you sir all your replies

regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 January 2024 You are welcome....
....

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