Compliance Calendar for Jan- 23 Happy New Year
Compliance Calendar for Jan- 23 Happy New Year INCOME TAX ▪ 07th Jan 2023- Due date for TDS/TCS…
The Planning
Why you should purchase Tax Saving Bond u/s 54EC before 31st March 2018?
Section 54EC is one of the most preferable sections for saving tax arising from transfer of any long term capital…
Rs. 50,000/- benefit to Senior Citizens include FDR Interest also?
senior citizen benefits Presently, section 80TTA provides Rs 10,000/- deduction to all individual/HUF taxpayers. Section 80TTA of the Income Tax…
Long Term Gain Tax on shares is back- Time to know the Tax Implications
Long Term Gain Tax on shares is back- Time to know the Tax Implications “Total amount of exempted capital gain…
Merger, Demerger & Amalgamation- Tax implications on shareholder
Merger Demerger & Amalgamation Query 1] 1000 equity shares of face value of Rs. 10 in N.F.C Ltd were allotted…
An additional compliance of submitting estimated current Income & Advance tax payment
Advance tax payment Query 1] We have read in the newspaper about filing of estimate of income tax return before…
NRI & taxation of mutual fund investments
taxation of mutual fund investments Query 1] My daughter purchased shares of Persistent Systems Ltd in 2009. She became NRI…
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…
