Capital Gains Account Scheme and Sale of property
If one sells a property which has been held for more than 2 years, one long term capital gains. If one invests the capital gain(not the difference between cost and sale price) within 1 year of sale or 2 years of the transaction, under section 54, 54F/FC, the capital...Communication of proposed adjustment u/s 143(1)(a) and e-Assessment/proceeding
For AY 2017-18 or FY 2016-17 many are receiving Income Tax Notice which says Communication u/s 143(1)(a) for PAN such as given below. Please do not panic. You have 30 days to responsd. Notice under section 143(1)A Notice u/s 143(1A) is sent If there are any...All about Aaykar Setu App and TPS website
Central Board of Direct Taxes (CBDT), a department within the ministry of finance, has come up with mobile App, Aaykar Setu App to help users carry out basic tax-related tasks on their own. A similar web page is also created on Income Tax Department website. The term...How to pay Tds on rent above Rs 50000 using Form 26QC and Form 16C
From June 1, 2017, An individual or HUF paying rent of more than Rs 50,000 per month is now required to deduct tax at source (TDS) @ 5% on rental payments and to deposit it within the prescribed time. This article talks in detail about TDS on rent above Rs 50000, How...Cost of Inflation Index for Long Term Capital Gains for FY 2023-24
The Cost Inflation Index for FY 2023-24(AY 2023-24) is 348. This article gives Cost Of Inflation Index to be used from 1 Apr 2017 for calculating Long Term Capital Gain on Sale of real estate, unlisted shares, gold. It also gives an overview of Indexation and Long...Subscribe to All Our Posts
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