sasikumar
21 September 2021 at 13:15
Dear Experts,
I am requesting Please share there is any judgement order against the rule 36 of GST.
Naresh Gupta
05 September 2021 at 11:06
I retired from a CPSU. I was the member of pension fund of LIC under NHPC self contributory and post retirement benefit scheme( I have switched over to HDFC life on my retirement). At the time of switch over I had commuted 30% of my pension. Is this amount taxable or exempted under 23AAB u/s 10 of IT Act?
Naresh Gupta
05 September 2021 at 11:02
I want to invest the amount received from sale of land in 54EC bond jointly with my wife. I was the sole owner of that land. Will I get tax exemption if I invest it as stated above?
Anonymous
30 August 2021 at 20:48
Hello I'm starting my career fresh out of college and have landed my first job and this will be the first financial year I'll be taxed in. I work in the legal profession but have nothing to do nor have a very good understanding with finance and taxation laws as that isn't my area of focus.
On discussing my role with the company and their HR, a situation has arisen about the status quo of my hiring in the company and the higher ups have taken some time to discuss this internally and have told me they'll set a meeting up in a few days where all of us can then finalize on the offer.
Essentially I can be hired, either as a retainer where I don't accrue any employee benefits provided under the labour laws of India and get taxed at the source, making it much more transparent and presumably lesser or be taken on as an employee with all the benefits that come with it along with the taxes that are charged on the various aspects of my income whether they be bonuses or perks and allowances.
The income slab that I fall under is 15% of my total income above the lower threshold and an additional Rs. 37500. No matter how much I try to wiggle around I can't lower my slab with the available deductions so I'm genuinely confused as to what manner of hiring should I go forward with that will net me the most amount with the lowest taxation so I can focus on my savings. I also don't have any additional sources of income at the moment so the income from my job will be the only amount for consideration.
Any help, guidance and suggestions will truly be appreciated and go a long way. Thanks in advance.
4WhatIsRight
26 August 2021 at 08:21
In 2012, a Private limted company bought a property for Rs.1000000 (ten lakh) and paid vide demand draft. Deed of conveyance was executed but couldn't be registered on that day. Seller returned the demand draft with a promise to get the deed registered and collect the demand draft at a later date. Thereafter seller refused to get the deed registered and handover physical possession of the property. Company approached court for specific performance of contract and got injunction on sale transfer of property by seller. Case is in trial stage. Now the seller has approached for compromise and offers to execute a fresh deed and handover possession for Rs.1500000 (fifteen lakh). market value for stamp duty is now (2021) Rs.2250000/-(twenty two lakh fifty thousand). What would be income tax implication for buyer company? How compromise process should be followed in this matter to avoid tax liability?
srinivas
17 August 2021 at 17:30
my self and my wife have investments in many mutual funds . as both of us are in 30% tax bracket ,can we give some of the funds as gift by making gift deed/deeds to our daughter who is still in the lowest tax bracket . will it invite any legal issues and taxation issues for us. since some folios are in single names and some are in joint names ,do we have to make separate giftdeeds as per our mutual fund folios . is yes what will be the charges per gift deed in maharashtra
Anonymous
11 August 2021 at 13:59
we're moving existing offer and Assembly plant from rented preemies to newly constructed SEZ unit.
the investment is 100% more then existing Asset. existing we have only employee, laptop and machine (which is "zero value")
Whether we're eligible for income tax exemption under Section 10AA, since the act says "SEZ unit is not formed by any splitting up, or the reconstruction of the business that is already in existence;"
Anonymous
03 August 2021 at 10:46
Dear sir,
My salary income is 18 Lacs and having 12000 LTCG on shares.can I fill ITR form 1 as my LTCG is below 1 lacs
Thanks
Anonymous
30 July 2021 at 19:12
Dear sir/Madsm
Is it possible for a CTO to call and ask for clarifications in a case pertaining to VAT after GST implementation?
Does the power of verification of papers relating to the VAT case lie with the same CTO officer or someone else?
Thank you.
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