Proposal to rollover capital gains for two properties is deeply flawed: Don't uncork bubbly yet, there is a catch here
Instead of putting an Rs 2 crore cap on long-term capital gains, a cap should have been put on the selling price of the original house at say Rs 4 crore.
Income Tax Return filing: Why the last fortnight of July would strain the ITR server like never before
Things have changed tremendously from the assessment year 2018-19 onwards insofar as the penalty regime for late filing of return is concerned.
More than demonetization’s ability to recover vast quantum of black money in the short span, its ability to increase the base for in-direct taxes in future is more appealing.