Violation of Sec. 54; 54-b,etc.,of Income Tax Act,1962,Tax liability within A.Y. year of contravention??
On Violation of Sec. 54; 54-b,etc.,[Capital Gains] whether the Tax liability arises in duplicate A.Y. year of violation? or at the expire of no. of year for which exemption is extended (exl. 3 years).Plz clarify my doubt... with relevant provisions...
Answers: I expect it is at the year in which the the extention is over.
10,00,000 LT Gains during 2004-05 (Sale of house)
08,00,000 House completed during 2007-08
--------------
02,00,000 Balance LT gain taxable during 2007-08
========
E-filing my taxes and direct deposit?
if you e-file your taxes and do direct deposit, how long is it taking, to have them deposited within your bank article? My return was permitted by the IRS thursday the 24th before 11:00am,when should I gain it? Thank youAnswers: They do Direct Deposit on Friday so Probably The 1st of Feb or the Fri after there is a IRS cycle around here somewhere.
I get mine this morning
I filed mine on the 11th i be accepted on the 14 so 11 days
Too copious variable to voice for sure. If the IRS's computer flags your return because something looks fishy, it could take weeks. If the IRS have an overload of returns that week, it could take longer. Give it at smallest a week. You can always phone up the IRS to track your return if you feel you've wait too long.
What is a good tax online website i can use to e-file my taxes other than turbo tax...something cheaper?
Answers: taxact.com it is free to e-file your federal return
www.irs.gov
You can use the Irs website to file for free.