Tax
Taxation on house rent received for jointly owned property on which EMI is there Taxation on house rent received for jointly owned property on which EMI is there

We have bought a house jointly (husband + wife). The house has been purchased with the help of housing loan (loan taken jointly in the name of husband and wife) on which EMI is currently planned to be

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Posted 4 days ago


A. Dear Sir,
Better clarify your financial doubt with any Chartered accountant or Auditor who will be more acquainted with such issues.

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taxes for non-residents - I came from Russia on a tourist visa taxes for non-residents - I came from Russia on a tourist visa

Hello, I came from Russia on a tourist visa. I plan to stay in India for a long time. Please tell me what taxes I have to pay on my salary. I am an individual and the employer is from Cyprus.

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Posted 2 months ago


A. Dear Client,
NRIs have to pay income tax on income earned in India. NRIs have to pay tax on income that accrues or arises in India. NRIs also need to pay tax on income which is deemed to accrue or arise in India. Money received or deemed to be received in India is taxable.

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TDS query -  I have not worked TDS query - I have not worked

Hi Sir, i have not worked from April'22 to Aug'22. However i will get a job offer by next week sep 15 2022. How will the last 5 months tax calculation happen as i have no other income for the last 5 m

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Posted 4 months ago


A. Income tax is calculated on the net salary. A net salary is the gross salary minus the allowances and deductions for the financial year. It absolutely depends upon what is your total monthly taxable income (The total monthly taxable income is the total taxable income for the financial year divided by 12 months)

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Regarding incomtax - My father sold property Regarding incomtax - My father sold property

My father sold property and paid tax now he is planning to transfer amount to my account, Can i submit partition deed as a proof, also tell me how to submit proof ( is there any online option or can

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Posted 6 months ago


A. Dear Sir,
The above question purely related to Tax matters as such you may go to any chartered accountant or Auditor.

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LTCG exemption under Section 54 LTCG exemption under Section 54

I purchased a residential plot 8 months back to construct a house using the funds I borrowed from my husband. Now i sold a residential house owned by me and this sale brings L.T.capital gains. If I re

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Posted 6 months ago


A. Dear Madam,
Your question will be answered by chartered account or auditor as it pertains to income tax related matter.

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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

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Posted 9 months 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

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Posted 9 months 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

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Posted 9 months 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 9 months 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

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Posted 10 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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