Long term capital gain tax
Long term capital gain tax
I have sold my residential property and I have to construct new one immediately, the money I received for selling my property will be deposited in savings account( not at a time but in 4 installments)
2 years ago
A. Hi,
Interest on a savings account is taxed under the category of "Income from other sources." Furthermore, Section 80TTA allows a deduction of up to Rs 10,000 on such interest income, therefore interest received in excess of Rs 10,000 is taxable.
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Ayantika Mondal @ Prime Legal
Trading loss carry forward Audit
I have incurred loss through non speculative trading income and want that to carry forward it to next year. My turnover through option trading is 5-6 lakh and losses through stcg 50000 and options tra
2 years ago
A. Dear Sir,
It is purely financial based question and needs to be looked into chartered accountant. Normally, such loss will be carry forward to the next year and you will get necessary income tax relief.
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Regarding tax
I am planing to open 10 lakh FD on my mother's name. She is house wife. will she get taxed? or will it be considered her income ? & will she need to pay tax for it. please explain
2 years ago
A. if your mother's total income for year which includes the interest from the FD is less than 5 lakhs then it will not be taxable.
Bank will also ask form 15H for senior citizen.
Better invest in tax saving instruments.
Ankur Goel @ Complete Law Shield
TAX
What is TRN( tax registration number) that my payoneer bank account wants me to provide? Is it simply the PAN number, GStin or something else?
2 years ago
A. Hi,
Tax registration number is issued to businesses on the basis of types of business. There are several types of ID numbers for taxation like Tax ID number, Employer ID number, PTIN.
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Ayantika Mondal @ Prime Legal
Clarification on income tax liability
Dear Sir, I am AVM M K Guleria (Retd) writing to you to get some clarification on income tax. 1. Our family home is coming in a highway project and we are likely to get compensation from the govt
3 years ago
A. Hi,
In both cases you are liable to pay taxes. For a detailed breakup please contact a chartered accountant.
education loan query
My education loan started in 2010 and ended in 2014 and my repayment started in 2016. During the course 2010- 2014 my parents paid interest to the education loan amount disbursed every year for tax pu
3 years ago
A. Dear sir,
Please consult Chartered Accountant.
Ayantika Mondal @ Prime Legal
RNOR: Resident but but ordinarily resident
Hello, I´m an expatriate who came to India in July 2018. Since then, I have spent the following days in India: Apr. 18 - Mar. 19: 254 days Apr. 19 - Mar. 20: 300 days Apr. 20 - Mar. 21: 365 days I
3 years ago
A. Hi,
Yes, you will be considered as a resident but not ordinarily resident.
Thank You
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Ayantika Mondal @ Prime Legal
MR
Every month I send INR 25000/- to my sibling from my income, can I claim exempt on ITR as a GIFT.
3 years ago
A. Hi,
yes, the following transaction is exempted from the payment of Income Tax as it is considered a Gift given to your brother. Thank You
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Ayantika Mondal @ Prime Legal
Vaidehi Samant
Taxes on Cryto currency
Hello Sir/Madam I have assets in crypto and since the limit has exceeded my exchange which operates in southkorea and China is telling me to withdraw funds .For withdrawal they are asking me to pay ta
3 years ago
A. Hi,
If you want to withdraw your cryptocurrency in the form of fiat currency, you would first need to convert it. You convert it in the same manner that you exchange other cryptocurrencies.
However, more information is required the facts of the case, so ass to advice you properly.
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Ayantika Mondal @ Prime Legal
Work from home data entry job fraud regarding
Sir, i applied for work from home job in naukri. Through this , a company "tcgfinancial services pvt ltd", gave SBI related outsourcing work they gave. After completion, they suddenly ask me to pay GS
3 years ago
A. Hi,
This would depend on the terms of your employment agreement. However, I'd advise you to not make any unnecessary payments, as this is a well known trick used by scammers on job applicants.
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Ayantika Mondal @ Prime Legal
