Quoting of PAN is mandatory if transaction value exceeds Rs. 2 Lakh
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Query 1] Whether it is mandatory to obtain he PAN if we sale the goods above Rs. 50,000/- in cash…
Tax Planning
Invest in Gold through Gold Sovereign Bond
Query 1] I have gone through the queries & answers on income tax on 2nd house/flat in which you have…
Not all proceeds from Life Insurance policies are tax free
Not all proceeds from Life Insurance policies are tax free Query 1] I am having a LIC policy (Jeevan Anand) for…
Issues in taxation of capital gain
Query 1] Please advise which ITR is required for my Mother (senior Citizen) for AY 17-18. She sold landed property…
To curb circulation of black money, filing of statement of financial transactions (SFT) has been made mandatory by different categories of taxpayers.
Query 1] We have received mail from income tax department asking to file the statement of financial transactions by 31/05/2017.…
ELSS income is totally tax free
Query 1] I am a senior citizen doing business with my known customers (all vat dealers) on credit basis &…
INCOME TAX LIABILITY COULD ARISE WITHOUT REAL INCOME
Query 1] I had booked a flat in Nov. 1995 & paid Rs. 2.75 lakhs in F-Y 95-96 & Rs.…
IT department is very efficiently capturing & analyzing the data
Query 1] During F.Y.2017-18, my expected tax liability is arriving at Rs. 2,600/-. My income of Rs. 5,20,000/- includes EPF…
Proper documentations & planning could lower tax incidence
lower tax incidence Proper documentations & planning could lower tax incidence Query 1] I have purchased a plot in FY…
No SFT to be filed if there is no reportable transaction
Query 1] With reference to column in The Hitavada Dated 22.05.17 on filing of SFT, I have a query. Whether…
Ownership of House property & Deduction on Housing Loan
Query 1] My father owns a plot in urban area of Nagpur and wants to gift it to me or…
LTCG exemption will be withdrawn if the new house is transferred within 3 years
Query 1] I read your article in The Hitavada Dated 17/04/2017 about JV & have question pertaining Joint venture between…
Even cash deposited in new currency is required to be reported in new ITR
Query 1] I] Last year, I have filed my income tax return in ITR-2A whereas my wife has filed…
No Income- No Tax is not the law
Query 1] My client Mrs. V.R. received letter/notice from I.T. Department (compliance management cell) regarding financial transactions done by her…
Tax Relief to the property owners signing Joint Development Agreement
Query 1] With reference to recent changes in the budget regarding Capital Gain calculation, I have following query: From which…
Revision in the base year would result in tax saving
tax saving Query 1] We have and ancestor property in Kolkata. Now we wish to sale our portion to my…
All about tax benefit on Education Loan
Query 1] One of my friends had taken an education loan in FY 09-10 for MBA & got employed in…
Tax issues in Joint Development agreement signed before 01/04/2017
Query 1] I had a plot which I gave it to a builder in Joint Venture. Now the builder would…
