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 years 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
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
2 years 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.
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?
2 years 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.
Maharashtra VaT issue
My issue is of 2013-14 Seller VAT no is cancelled So vat notice to pay the j1 j2 difference has came to me. I have all the bills , what should I do ?Can vat b started again of the seller Or any other
2 years ago
A. Dear client,
You can escape this liability when the VAT of the seller has been restored. So, being the aggrieved party, you can question the VAT notice that is been sent to you.
Thank you. Have a nice day.
income tax
Original assessee had died intestate without leaving any property or income whether the legal heirs are liable to pay the income tax
2 years ago
A. Dear Sir,
'Pious obligation' means the moral liability of sons to pay off or discharge their father's non-avyavaharik debts. ... The ancient doctrine of pious obligation was governed by Smriti law. There is a pious obligation on the sons and grandsons to pay the debts contracted by the father and grandfather.
Hindu Succession (Amendment) Act, 2005- Rights & Liabilities of a daughter member
Section 6(4) provides that no court shall recognize any right to proceed against a son, grandson, or great ...ReadMore
Advocate Sinjari Bandyopadhyaya
Capital gain exemption and tax liability over consideration for relinquishment
We are 3 blood sisters nominees in a flat left by my deceased father, without a will in Mumbai. I am acquiring the flat from my sisters by way of relinquishment release deed, also paying them consider
2 years ago
A. Dear Client,
1. Yes, you can use that money to pay off your sisters' consideration for executing a relinquishment deed in your favour, and it will be tax-free up to the amount given to your sisters because it is not a capital gain.
2. You may consult a chartered accountant in your area by presenting your other sources of income.
Thank you!
Income tax refunded and received IT notice under section 143
I am a salaried employee and my company closed abruptly. I had filed returns and got the refund as per my ITR during AY 2019-20. Now I had received notice from IT for repayment of the refund tax amoun
2 years ago
A. Dear Client,
A chartered accountant can provide you with sound legal advice in your case, whether to refund the department or not. I hope this helps. Let us know if you require any further assistance.
Thank you!
INCOME TAX
U/S 80 GG FORM 10BA TO BE FILL. I HAVE PAID RS.96000 RENT(8000×12).WHICH IS LESS THAN RS.100000. THE FORM IS ASKING FOR PAN CARD OF LANDLORD. I DON'T HAVE PAN CARD OF LANDLORD. PL. GIVE SOLUTION.I A
2 years ago
A. If the PAN card of the landlord is mandatory then you will have to ask him to provide you a copy otherwise you can not take benefit of the HRA while filing the tax returns. Please ask him to provide the PAN copy to you
Freelancer receiving payment in savings account from Overseas client.
As a freelancer is there is a problem if I have received the money in my Savings account from an Overseas client? Is there any limit to which I can receive? I m told that there could be a penalty levi
2 years ago
A. Hi,
It is important to mention your source of income and to file income tax return depending on your income. If you receive payment by doing any act which is forbidden in India, it will lead to an offense.
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Thank You
A query about receipt of past salary in arrears.
Madam/ Sir, I’m a salaried individual and I have a query about receipt of past salary in arrears. In the month of June 2021 (FY 2021-2022) I have received an amount of around 7
2 years ago
A. Dear Sir,
You have to approach chartered accountant to get appropriate financial advise. The advocates are not experts to advise on the financial matters and related investments in a particular financial year etc.
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Ayantika Mondal @ Prime Legal
