Yes, provided the finance bill gets passed as per suggestion without any change.
As per Ca club India mail the aboveamendment will take effect from 1st April, 2018 and will, accordingly, apply in relation to the assessment year 2018-19 and subsequent years. That means that I can't take the benefit on completion of 2 years on 25th May 2017.
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As per Ca club India mail the aboveamendment will take effect from 1st April, 2018 and will, accordingly, apply in relation to the assessment year 2018-19 and subsequent years. That means that I can't take the benefit on completion of 2 years on 25th May 2017. |
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The Finance bill is for AY 2018-19, which starts from 1st April, 2018.
If you sell your flat after 26thMay, 2017, which correspond to Financial Year 2017-18, that correspond to Ass Yr. 2018-19.
That means that I will get the benefit of section 54 LTCG if I sell my property after 25th May 2017. Is it correct!
Yes, after getting assent of President over the proposed bill.
@ RPK: Being student, and when no TDS deducted from foreign receipts, you may show the income from IFOS.
But manytimes nature of work also decides its catagory. Even though you be student, but if your work is of technical specialization, then it would be better to show it under Professional income.
In any case department is not worried much, when you have not concealed any income and/or taken any undue advantage in reducing the tax liability.
Your status of student doesnt make any difference.Show as business expesnes and get the benefit of all the expenses which you have incurrred.
Sir,
My clients are from abroad but all my receipts in my bank accounts are received from local banks.........
CAclubindia
