Tax
Tax on Payment received in Crypto Tax on Payment received in Crypto

Hello, I am a Business Consultant based in India. I get my consultancy fee (gross revenue) from my Hong Kong client via USDT. Its gross revenue received as Consultancy Fee(professional income) and no

2 Response(s)

Posted 1 month ago


A. Dear Sir,
Please consult an expert on the above issue or approach Auditor or chartered accountant and claim benefits accordingly. Lawyers are unable to answer your questions.

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income tax - i have 1 lakh rupee in my account income tax - i have 1 lakh rupee in my account

sir i have 1 lakh rupee in my account if i send this amount to my friend he will return it as 1 lakh and 4 thousand rupee as interest and i have done like this for 100 times so finally in my account t

2 Response(s)

Posted 1 month ago


A. Dear Sir,
The Income Tax will be calculated only on your profit and not on total transaction. You may approach chartered accountant for more clarification since it is financial transaction and you must take legal advise from him.

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advance tax penalty- , zero tax from salary advance tax penalty- , zero tax from salary

Hi TEam, zero tax from salary after all investment and deductions, second 10%TDS from FD in every financial year. But at the time of filing ITR in July-Aug-Dec, both salary and TDS clubbed and tax co

2 Response(s)

Posted 1 month ago


A. Dear Client,

As per the facts mentioned, I’d suggest you to contact a CA who can give you better advise.

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Capital gains income tax Capital gains income tax

We are landowners for a site and we entered in to JDA . As part of that JD., we got 6 flats which was sold in FY19-20. Each flats costs 50L average and commision and furniture also cost 8Laksh per eac

3 Response(s)

Posted 1 month ago


A. Dear Sir,

Long-term capital gains are taxed at 20%. For a net capital gain of Rs 63, 00,000, the total tax outgo will be Rs 12,97,800. This is a significant amount of money to be paid out in taxes.17-Feb-2022
Debt Funds: At tax slab rates of the individual
Equity Funds: 15%
Funds: Effective 11 July 2014

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Income Tax -  company is providing Voluntary Separation Scheme Income Tax - company is providing Voluntary Separation Scheme

My company is providing Voluntary Separation Scheme for those employee who want to take it. In exchange of it, they are offering a lumpsum amount. In my case the lumpsum amount is 20Lacs. This is bef

1 Response(s)

Posted 2 months ago


A. Dear Client,

Any amount received / receivable by a specified category of an employee under the voluntary retirement scheme or under the voluntary separation scheme is exempted under section 10(10C) of the Income Tax Act.

Hope this clarifies your query and requirement.

Thank you.

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Disciplinary action initiate against Assessing officer Disciplinary action initiate against Assessing officer

Disciplinary action initiated against Assessing officer for F Form approved, purchase not declare in the return. Hence I request to any high court order for favour of set a side the disciplinary actio

2 Response(s)

Posted 3 months ago


A. Dear Sir,
The High Court may pass orders on merits.

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Need help in my Basic pay structure Need help in my Basic pay structure

My Total annual CTC is 653125 where base pay is 365751, HRA is 163282 and the special allowance is 124092. Basic is currently at 50% and i have a option of restructure and i can set the basic at 30% s

3 Response(s)

Posted 4 months ago


A. Dear Client,
You may approach a chartered accountant who can give you a better advice in this matter.

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ITR Filing ITR Filing

I am a salaried individual. I had taken a personal loan of 12 Lakhs from SBI for 2 years that my brother used to purchase the property. Can I claim tax exemption for principal and interest paid durin

2 Response(s)

Posted 4 months ago


A. Dear Client,
Since your brother has used the money and as it was a personal loan and not a home loan you cannot claim these exceptions. These exceptions are available on home loans and for homes acquired by you or your spouse or children.
Thank you

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HRA Claim Related Query HRA Claim Related Query

If my total rent for the year is greater than 1 lakh, but the total rent paid to the individual landlord is not more than 1 Lakh, do I need to submit both landlord's PAN cards to avail HRA exemption o

1 Response(s)

Posted 4 months ago


A. Dear Client
This question can be better answered by a Chartered accountant than a lawyer and hence you are suggested o get in touch with a CA who can assist you by replying to your query on this matter basis which you can take an action.

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Need to file a return below a certain income Need to file a return below a certain income

Does an unemployed senior citizen with an income of less than Rs.60000 per year from fixed deposit interest alone need to file return?

1 Response(s)

Posted 5 months ago


A. Dear client,
Yes, it would be wise to file the income tax return despite him being unemployed. Any income through any form must be filed. Moreover, this will ensure that no problems arise in the future as well.
Thank you.

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