Long term capital gain on sale of house property
Long term capital gain on sale of house property
If property is in the name of one brother but actually it's property of three brothers and it's ancestral property but after the death of father it was registered in the name of one. Now, can we share
1 year ago
A. Dear Client,
If property is registered in the name of a specific person, then it will be paid as whole by one in whose name the property is.
Long Term Capital Gains on sale of residential plot
I have sold out my residential plot of 200 Sq Yards on 2nd Mar 2023 which was bought in 2003. After considering the indexation , the LTCG comes @ Rs.9.8 Lakhs. I do not have any plans to buy a fresh
1 year ago
A. Hello Sir,
The exemption from long term capital gains is not available in respect of repayment of a home loan. You can claim deduction under Section 80C for repayment of home loan to the extent of 1.5 lakh rupees every year along with other eligible items.
Tax related
Can we claim interest under 24b (2 lac) (different house property), 80EEA (1.5 lac) (different house property)and hra deduction (different house property)altogether?
1 year ago
A. Yes, deduction of interest paid on housing loan can be claimed under sec 24b provided there is an interest paid certificate received from bank as a proof.
Deduction of interest paid under Sec 80EEA can be claimed in addition to Sec 24b only if the stamp duty value of the property is less than 45 lakhs and it is the first property for the buyer.
House rent allowance can be claimed in addition to deduction claimed under Sec 24b i.e. 2 lacks and additional 1.5 lacks as per Sec 80EEA only if the buy ...ReadMore
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
1 year 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.
Relief under 90/90 A under double taxation
Need guidance on how to file to claim relief under DTAA section 90/90A
1 year 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.
Subhashis Paul
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
1 year 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.
Subhashis Paul
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 year 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.
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 year 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.
ITR TDS DEPOSIT POST DEDUCTION
Can a tds deductor deposit TDS after two years of deduction?
1 year 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.
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
1 year ago
A. Dear client, in my humble suggestion, you should consult a chartered accountant who can better resolve your query.
