Capital gain
Capital gain
Inherted a leased property , licensee was my father followed by my mother after death of father. I became licensee in 2017 by inheritance. My father paid rs. 2,15,436/- as premium as demanded by Lesso
9 months ago
A. Dear client, this is a finance issue. Consulting a chartered accountant shall be more beneficial for you
Leave encashment exemption under sec 10 (10aa)
I worked for a Private (non government) Indian employer for 10 years and recently resigned. In the last 3 years of my job, I was working for the same Indian employer but from overseas (USA). I recentl
9 months ago
A. Dear client,
If you were working abroad, then you would have paid taxes abroad. Hence, you cannot claim leave encasement as exemption under section 10aa of the Income Tax Act
tell me if it is under tax evasion or not
like their is a person retires in govt. services he only shows his pension to the bank statement but he is running a hostel and he didn't showing that statement to bank he takes cash from hostel peopl
9 months ago
A. Dear client,
This is tax evasion, since there is an alternate source or income that the person is not declaring in their income tax filings
My gross income after standard deduction
My gross income after standard deduction is rs.1047568 annually. I am paying a home loan of emi rs.17000 monthly. Can you advice on how much income tax I have to pay? I am salaried. And how much shoul
10 months ago
A. hi client,
You need to consult a tax consultant or a Chartered Accountant , for such assistance.
Thanks and Regards
Simi Paul
Income tax
My employer credited 1 lacs to my account by mistake. Will I have to pay income tax on that amount since the amount was in my account for 40-50 days
11 months ago
A. Dear Sir,
You have to return such amount but you need not pay income tax on it since it was a mistaken transaction and you were not supposed to use that amount.
complain against income tax evasion
other than online where can i complain for income tax evasion in writing ?
11 months ago
A. Dear Sir,
You have to send registered post complaints against such person and sent the same to all concerned IT offices enclosing relevant documents.
Can wife Loan Husband 5Lakhs from the money gifted by her father
My father in law had given Rs5lakhs as a Cash Gift to my wife. This was given as cash during 2015. During the purchase of flat same year, I had taken that 5lakhs as a loan from my wife @10%ROI with th
1 year ago
A. Dear Sir,
Please contact any Auditor or Chartered accountant to get clarity as advocates except practicing on tax side cannot answer your question.
Income tax deduction
I have started working again since last year August and there is tax deduction this month from my salary i follow 6lakhs per annum category have given house rent
1 year ago
A. Dear Client,
There is no income tax to be paid unto a salary of 5 lakhs. However, please consult a local auditor regarding the same.
Income tax on shares transferred from my late aunt
Before passing away my aunt who was a foreign citizen had transferred (GIFT) Some of the shares on my name last year and few days back I sold it & received the cheque from brokerage house. As the cheq
1 year ago
A. Dear Client
In your case, since the shares were gifted to you last year, the gains will be treated as long-term capital gains, and the tax rate will be 20% with indexation benefits.Donations to registered charities can be claimed as a deduction from taxable income under Section 80G of the Income Tax Act, 1961.To minimize your tax liability, you can consider donating a portion of the gains to registered charities. Please consult a tax expert over this matter.
Gift by married daughter to her father
As per Section 56(2) of Income Tax Act, Gifts given in blood relation is exempt from income tax. If a daughter wants to give Gift of Rs. 20 Lakh to her father, is it possible to share the process (dra
1 year ago
A. A gift within a blood relation is exempted from Income Tax, In the case of a daughter gift to the father a sum of Rs.20 lakh there is no requirement for registration, just prepare a gift deed in Rs.100/- stamp paper is enough for documentary purposes.
