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Dear Client,
GST is a destination-based tax, i.e., the goods/services will be taxed at the place where they are consumed/used and not at the origin. So, the state where they are consumed will have the right to collect GST. The place of supply of goods under GST defines whether the transaction will be considered intra-state or inter-state, and accordingly, the levy of SGST, CGST & IGST will be determined. According to Section 24 of the CGST Act, every seller selling through e-commerce operators

Dear Client,
You did not disclose your age in the query which is very crucial in the context to address your query suitably. However, be informed that the customer opens a Current account for doing frequent business transactions, bulk transactions, and high-value transactions. Generally, banks don't allow minors to open account individually with full-fledged operations. A minor can't open a current account as he has no right to contract under the Contract Act. If you are able to earn you may do

Dear Client,
Regardless of the ground behind the devolution of a property, when a property is owned jointly, in the absence of a co-owner, the surviving owner can apply to the concerned Municipal Authority for a mutation of property tax in his/her name along with death certificate of previous/recorded owner(grandfather), co-owner(father) and all the relevant papers of the property and following the standing procedure of mutation. For more information, you may contact the office of the concerned

Dear Client,
As stated by you in the query, since your income is below than threshold limit of income i.e, Rs.2.5 Lakhs in a financial year, applicable to a person under 60 years of age, you need not pay any income tax. Income Tax is a branch of law or legislation, that eventually comes under the arena of Chartered Accountants and Tax Consultants who have expertise and in-depth knowledge on the subject and may guide you properly on the subject.

Dear Client,
Regardless of the use of the capital gains arising out of the immovable property, you have to pay tax on long-term capital gain(LTCG) unless you follow the provision of Section 54 of the Income Tax Act to claim a rebate of tax on LTCG. To claim a tax rebate under Section 54 of the Income Tax Act, capital gains arising out of the immovable property have to be reinvested to buy another residential house. The new residential house property should be purchased either one year before th

Dear Client,

When your mother’s brother sells the portion of the property that he agreed to allocate to you and transfers the sale proceeds to you, there are some tax considerations to keep in mind. Here's a breakdown of the process and tax implications:

Since your mother signed a release deed 15 years ago, she gave up her share of the ancestral property to her brothers, meaning the property is now legally in their names. For your brother (your uncle) to sell the property and transfer procee

Dear Client,

Yes, you can include stamp duty, registration charges, and GST paid during the purchase of the property as part of the cost of acquisition. These are considered incidental expenses to the property purchase and can be added to the purchase cost, reducing your Short-Term Capital Gain (STCG).

In your case:
Stamp Duty: ₹8.4 lakh
GST: ₹6.8 lakh
By adding these amounts (₹15.2 lakh) to the purchase price of ₹1.36 Cr, the effective cost of acquisition becomes ₹1.512 Cr. This wil

Dear Client,

It seems your tax refund is delayed despite correcting the defective notice and submitting the required information. Here are possible reasons for the delay and the steps you can take:

The correction of the defect might not have been verified successfully by the tax authorities. Sometimes, the tax department's systems may take time to process corrections, especially if they involve manual verification. There could be other issues with your tax return, such as a mismatch in your in

Dear client
You will have to pay capital gain tax on remaining three00,00,000, and since you are going to use one crore out of the sale proceedings to buy a residential house. Therefore, no capital gain tax will be applicable on that amount of one crore..
For a detailed analysis and amount of tax capital gain tax that has to be paid, you must consult a very good chartered accountant who should be able to calculate the exact amount that you will be required to pay

Dear Client,

Hope this reply answers your query. As it is earned by your father, taxe implications are for your father. Any gift received is not taxable.