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  • Asked by Rashmi gupta on Feb. 5, 2019, 5:33 p.m.

    Answered byJeeba Lal  Feb. 5, 2019, 5:43 p.m.

    0 Upvote | 22 View | 1 Reply | Asked to: EveryOne

    Dear sirs,I have one house property in Delhi which I had purchased in Rs. 30 lacs 10 years back. I am planning to sell it in May 2019. From the capital gain two residential houses. Do I get exemption on investment made in both the house?

    Full Query:

    Dear sirs,

    I have one house property in Delhi which I had purchased in Rs. 30 lacs 10 years back. I am planning to sell it in May 2019. From the capital gain two residential houses. Do I get exemption on investment made in both the house?

    Long term capital gain from the sale of residential property is exempted from tax, if the gain from such sale is invested on purchase/construction of another residential house property.The interim budget 2019 has purposed to increase the exemption for investment made in two residential houses if your capital gain amount is not more than Rs. 2 crore rupees. This option is available once in a lifetime. So if you exercise this option, you can not exercise this option later. It means you can buy two residential property from your capital gain if it does not exceed 2 crore for once in life time.

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  • Asked by Rashmi gupta on Feb. 5, 2019, 3:44 p.m.

    Answered by Jeeba Lal  Feb. 5, 2019, 3:51 p.m.

    0 Upvote | 20 View | 1 Reply | Asked to: Everybody

    Dear Experts.Our company is paying rent of Rs. 200000. Is it necessary to deduct TDS?

    Yes, your company should deduct the TDS while making payment of rent.Section 194I states that every person (except individual and HUF not liable for tax audit) who is paying rent exceeding Rs. 1,80,000 shall be liable to deduct TDS.However, Interim budget 2019 has increased this limit to Rs. 240000. So, from 1st April, you have to deduct TDS on rent paymment only if such expenses exceeds Rs. 240000 in a financial year.

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  • Asked by Rashmi gupta on Feb. 5, 2019, 3:22 p.m.

    Answered byJeeba Lal  Feb. 5, 2019, 3:28 p.m.

    0 Upvote | 20 View | 1 Reply | Asked to: EveryOne

    Are there any changes made by interim budget on income from house property?

    Yes.This budget has given a relief on income from house property. Earlier, if a person has two residential property notional income form one house profperty is taxable.This budget has propesed to amend this provision. From this year onward, if you have two residential self-occupied properties, you do not have to pay tax. It means that two self-occupied house properties will be considered for exemption.

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  • Asked by Rashmi gupta on Feb. 4, 2019, 1:33 p.m.

    Answered by Jeeba Lal  Feb. 4, 2019, 1:53 p.m.

    0 Upvote | 29 View | 1 Reply | Asked to: Everybody

    Dear Experts,I got to know that company may issue its shares on private placement basis.Please let me know what is private placement of securities?Thanks in advance.

    Full Query:

    Dear Experts,

    I got to know that company may issue its shares on private placement basis.

    Please let me know what is private placement of securities?

    Thanks in advance.

    The company have many sources to raise fund. Private placement of shares is one among such many options.Since a private company can not call the public to buy its shares, it raises capital offering its shares to the pre-specified selected person or group. So when company issue shares under this basis, it offers shares only to the selected numbers of investors.Section 42 of the companies act, 2013 also defines private placement. As per this section, a private placement is an offer of securities to subscribe securities to a select group of persons by issuing private placement offer letter. And the company can make an invitation or offer only up to 50 persons in a year.

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