Does the spouse’s reinvestment of LTCG qualify for the capital gains exemption?

The Income Tax Appellate Tribunal (ITAT) ruled in January 2020 that reinvesting the entirety of long-term capital gains (LTCG) inside a partner’s call qualifies for exemption under the capital profits exemption rules. The decision was reached after an applicant’s claim was turned down by the evaluating officer. The sale earnings of an asset held for […]

In Lucknow, incorrect property tax self-assessment will result in penalties.

The Lucknow Municipal Corporation (LMC) has warned that inaccurate information entered into the property tax self-assessment software would result in a warning. The offender will be penalised four times the gap between the current property tax and the amount paid. LMC’s self-assessment programme, designed to eliminate the misconduct, is set to be released shortly. The […]

How can I pay the Vasai-Virar VVMC property tax?

The Vasai Virar City Municipal Corporation’s (VVMC) internet site provides a platform where people may pay their property taxes quickly. Furthermore, it may be used with the help of consumers to publish various provider demands. The Vasai Virar City Municipal Corporation (VVMC) levies a tax on all immovable properties within its jurisdiction. Every year, the […]

Basics Of Determining The Status Of An Income Tax Return

If you paid more tax than your actual tax burden during a fiscal year, you may be entitled to an income tax refund upon completing your income tax return (ITR) for that year. Nevertheless, you will not get your income tax refund until the tax department analyses your ITR and sends you an indication letter.

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