Tax is applicable for Demise person ( legal heir) Tax is applicable for Demise person ( legal heir)

Our company is planning to provide financial assistance to our one of the (Mr.)employee, who was demise on 8th dec-22.So they have plan to provide Gross salary to her wife. is it taxable under income

4 Response(s)

Posted 3 weeks ago


A. Dear Client
It is moreover a taxation matter it would be better to get advise from a taxation expert, CA or an Accountant.
Hope it Helps.

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Relief under 90/90 A under double taxation Relief under 90/90 A under double taxation

Need guidance on how to file to claim relief under DTAA section 90/90A

2 Response(s)

Posted 4 weeks ago


A. Dear Sir,
It is financial matter and mostly such questions to be asked to either auditor or tax consultant since Advocates may not be having depth knowledge in that law.

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ITR of my deceased mother ITR of my deceased mother

My mother died on 13/02/2022, she was paying income tax.As legal heir what will be last date to file ITR as legal heir, i have not applied for registration , is 31/12/2022 is last date since she died

2 Response(s)

Posted 4 weeks ago


A. Dear Sir,
It is a financial matter better you contact any chartered accountant or income tax consultant so that you can get effective solution.

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stamp duty on indemnity bond stamp duty on indemnity bond

what is the stamp duty on indemnity bond to be submitted to the Income tax Department. As per information provided 100 rupee stamp is to be utilised. Is there any change/increase in this regard

1 Response(s)

Posted 1 month ago


A. Dear Sir,
u may contact any local Auditor or Chartered Accountant to clear your doubt. Otherwise, u may directly approach Income Tax office or any other similar office.

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Tax Liability for Non Income Transactions Tax Liability for Non Income Transactions

Below is the case for which I would like to know if I owe money to the Tax authirities. 1. My 85 Year Old grandmother is a pensioner who receives My grandfathers pension who was a central Govt employe

1 Response(s)

Posted 1 month ago


A. Dear Sir,
The questions are related to Finance matter and such questions may be answered by either CA or Auditor. Please approach any one of them.

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Buying a flat from someone who has German citizenship Buying a flat from someone who has German citizenship

I am buying a flat from a married couple who has German Citizenship but has Indian PAN card, AADHAR, Indian Bank account and Voter ID card. They have joint ownership of the said flat. They now have be

1 Response(s)

Posted 2 months ago


A. Dear client,
Buyer is required to deduct TDS at the rate 1% if sale consideration is 50 lakhs or above but from 01/04/ 2022, TDS is required to be deducted if stamp duty value of property is also 50 lakhs or more. This means TDS is required to be deducted if stamp duty value of property or sale consideration exceeds 50,00,000.
It is always better to consult a real estate lawyer before buying any property. Take all the documents and give them for verification once and they will let you know what ...ReadMore

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ITR TDS DEPOSIT POST DEDUCTION ITR TDS DEPOSIT POST DEDUCTION

Can a tds deductor deposit TDS after two years of deduction?

2 Response(s)

Posted 2 months ago


A. Dear Client,

The TDS deductor can deposit TDS after two years after paying the necessary penalty. The default will come under section 201A and the deductor will be charged interest on default of 1.5% per month from the date of deduction to date of actual payment.

Thank you so much, I hope this answer helped you.

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Clubbing of income Clubbing of income

If the husband gifts money to the spouse the income earned through that money is clubbed with husbands money but clubbing doesn’t happen if the father gifts the money to major child. This what if th

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Posted 3 months ago


A. Dear client, in my humble suggestion, you should consult a chartered accountant who can better resolve your query.

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RBI Guidelines on Fix Deposits in Banks RBI Guidelines on Fix Deposits in Banks

Dear Sir, I am a senior citizen with 72 years of age. My wife and I have JT FD A/cs(Many FDRs) with a nationalised bank for a period of10 years. My wife is the 1st holder and I am the Jt second holder

2 Response(s)

Posted 4 months ago


A. Dear Sir,
The very first thing that you should do is to give an application to the Bank to change the ownership of the FDs in your name. In my view they have mislead you as after the death of your wife an account can never remain opened in her name.
Once you have got the FD completely in your name then it will automatically solve the issue of the TDS.
As far as receiving the notification from IT is concerned, you just send them a clarification letter about the death of your wife. They should sto ...ReadMore

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F&O trading expenses which can be claimed as business expense F&O trading expenses which can be claimed as business expense

Hi, My wife is doing f&o trading and would like to know which all expenses can be claimed as business expense while filing income tax return, 1. She is getting a loan from her friends and family for

1 Response(s)

Posted 4 months ago


A. Dear Sir,
Above questions may kindly be asked to any chartered accountant or auditors who are experts in the financial matters.

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