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Anonymous   26 January 2022 at 00:56

Income tax deduction

Dear Expert,

I am moving to Bangalore from my home town and looking for a 2BHK accommodation.
Renting out a 2 BHK would cost me 22k per month, while leasing the apartment would cost 8 to 10 lakhs.

My father has suggested to take it on lease and he will fund it. With this I will not be able to take any HRA deduction, since I am not paying rent.
Can I create a rental agreement with my dad and make rental payment and take claim HRA deduction?

If so, how should I report this income in my Father's ITR.

Thank you..


rajesh singh   27 October 2021 at 14:34

30 years long lease stamp duty

i want to take 30 lease land on rent basis. first year rent is 1 lakh per acre and every 3 years there is 5% growth upto 30 years... what will be stamp duty and rent ?

Anonymous   20 October 2021 at 18:28

44ad or 44ada

real esate brokerage recd...23 lac.........income under 44ad / 44ada if 50%....11,50,000 sub-brokerage paid by chq.....15lac can we show income below 5 lac.....after audit..??? any other ...solutions / pre-cautions

Read more at: https://www.caclubindia.com/experts/ask_query.asp

Anonymous   30 September 2021 at 18:51

Long term capital gain

What will be long term capital gain tax on property purchased in 1970 and sold in 2021.

My father purchased residential flat at r
Rs 55000.00 in 1971 and I sold the same @ Rd 1.25 cr.

I don't know what will long term capital gain tax. I asked i t lawyer but not getting proper
Reply.

Ajay

padmaja p   23 September 2021 at 12:59

Tsd on donations

Sit, please let me know, is required to tds on donations paid to trust by donor.
Is there any provision on donations.

Naresh Gupta   05 September 2021 at 11:06

Income tax exemption

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

Income tax exemption

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?

srinivas   17 August 2021 at 17:30

Income tax

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

income tax exemption - sez

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

Query regarding itr form and ltcg

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