I have querry regarding long term capital gain over housing property,clause state as IT site "Next purchase of housing property after sale of one housing property should be within 1 year or construction of housing property should be within 3year,but the construction of flat/apartments take more than 3 year even some extent till 9- 10 years depending on builder, Give details abt validity of long term capital gain deduction the flat buyer would get by entering into an Sale agreement with such builder for purchase of flat.
I am a Canadian Citizen with OCI status in India. I currently have an NRI and DEMAT account and have recently started trading. I was hoping you could help me understand what are my tax obligations to India, as well as to Canada on any money repatriated to my Canadian bank accounts.
i am soon gonna start trading commodities in mcx & ncdex. mostly intraday trades.
can anyone please tell me how will i be taxed?
do i have to pay short term capital gains tax or normal tax as per slabs?
we,two brothers intent to sell a land at 55 lakhs each. Iam a salaried tax payer and my brother lives on rental income which we own. The cost of acquisition of the land at 6.9 lakh Indexed cost of acquisition is at 24.8 lakhs.How to plan the this finance.
can u please provide me with the notification or any other document where it has been mentioned that stt has to be or can be set off against total tax in filing return for IT in the year 2006 -2007.
Actually I am entitled to get refund for the year 2006-2007 which i had not yet received. So i had been following with the IT Guy and the Asst Comm himself to get my refund through for last one year.First they lost my IT return filed by me, don't know exactly where it has gone. then they requested me to give them the xerox copy of the acknowledged copy of the return with all the necessary documents. Before that they mentioned that ur file has been assessed and according to them iam entitled to get around 36000/- in refund. But now they even after handing all the necessary documents they are delaying my refund. Now according to them the STT that have claimed in my IT as a set back against Profit is wrong. they say that there as no setback on STT at that time i.e FY 2006 - 2007.
So can any one provide me with the notification so that i can show it to the Asst Comm proving that STT as allowed as setback in total tax to be paid.
Any Section no for this line (-STT is deducted for taxable income under business head (trader). No deduction for investor (STCG/LTCG) )