selling a house and buy in name of children
selling a house and buy in name of children
Dear Sir, I am a lady of 75 years old. I am residing in a society flat in PitamPura. I am the original member of society and I got the possession in 1986. I want to sell it and buy somewhere else in
2 years ago
A. Dear Madam,
You may approach local advocate or chartered accountant
26AS & Form 16 both has wrong income
For the FY 20-21,In my 26AS & Form 16 has wrong income credits. My salary is 58K per month so annual is 696,000. But in 26AS & Form 16 has 870,000/-. Its because the 26AS7 Form 16 has the wrong salar
2 years ago
A. Dear Sir,
Please contact chartered accountant.
Capital Gains Tax on Land Sale
Hi, I bought a land in the FY2016-2017(Jul-2016) from 5.3 Lakhs and sold it for 11.3 Lakhs in FY 2020-2021(Feb-2021), so the capital gains tax will be on the profit I gained which is around 5 Lakhs c
2 years ago
A. As per the Section 54 of the Income Tax Act since you have already put the money into another residential apartment the question of capital gain should not arise any more. But still to be on a safer side you are advised to be in touch with your CA and close this for ever.
Section 54. Profit on sale of property used for residence.—2[Subject to the provisions of sub-section (2), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain arises from the ...ReadMore
Tax benefit for loan against property
We have a plot on which we wanted to build 1 BHK. Hence now we have taken a loan against that plot around 15 Lac and started for the construction. I wanted to know can I get any tax benefit on such ty
3 years ago
A. hey,
Yes, a loan against property enables you to save on the tax amount payable. ... You can claim tax exemption from a loan against property if the loan amount is utilized for business purposes. In such cases, benefits can be claimed against interest paid and associated fees and charges incurred.
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Ayantika Mondal @ Prime Legal
Home loan deduction
I have bought my first house with my husband (50:50) in Nov 2020 with home loan. We are paying approx 3 lakh as interest and 40000 as principal annually. I want to know how can we get maximum deductio
3 years ago
A. Dear sir,
You cannot do so.
Ayantika Mondal @ Prime Legal
LTC cash coupons
Can I claim tax exemption using LTC cash coupons as I bought a car in November 2020 even if I didn't declare LTA during salary structure declaration.(My company allows us LTA only if employee declare
3 years ago
A. Dear Sir,
You may approach any tax practitioner.
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Ayantika Mondal @ Prime Legal
Wrong income in 26 AS
Dear sir employer showing income paid for Apr,May,June 2020 but the salary was not paid to me in any manner and now his intention is same for no payment. Now what steps i can take as amount is not rec
3 years ago
A. Dear Sir,
You may get issue a legal notice and after that you may approach IT Department for amending your returns if filed wrongly.
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SFT
This pertains to SFT regarding buyback of shares by Adani ports for an amount of Rs 25000 reflected in Form 26 AS for AY 2021.Pl advice for appropriate action on following: a) action if any while pr
3 years ago
A. Hi,
The concerned professional could be contacted
Ayantika Mondal @ Prime Legal
Question regarding PF tax filing
Hi, I have withdrawn my PF on September 2020, do i need to show it in the ITR for FY 19-20 or FY20-21?
3 years ago
A. Hi,
The concerned expert could be contacted.
Ayantika Mondal @ Prime Legal
PPF Settlement
I left my current company, should I withdraw my ppf amount from my current company account? Do they can stop me from doing it if I do withdraw money in future?
3 years ago
A. Hello,
Yes you should withdraw the PPF amount, it is your legal right, and the employer is in no position to halt your PPF amount
Ayantika Mondal @ Prime Legal
