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CA Amita Shanbag  

CA in Practice
1Year  9Month  experience

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Mumbai, Maharashtra, India
Pin code - NA

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NA - NA

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A

Aman

1 Months ago

Looking to increase capital from 1cr to 1.25cr.. what all are the charges and stamp duties for the same?

CA Amita Shanbag     14 Nov 2018

amp duty shall be Rs. 1000 on every Rs.5
Lakhs of amount of increase in authorised
capital or part thereof subject to a maximum
of 50 Lakhs of stamp duty.

T&C apply

M

Munagala Sai Kumar

1 Months ago

We are selling a property at 20 lakhs and The Buyer sending 20 Lakhs to My SBI Account and I want to use that 20 Lakhs and buy a home in Hyderbad. Will there be any tax issue?

CA Jaya Agarwal     10 Nov 2018

yes, capital gain tax

CA Amita Shanbag     14 Nov 2018

The investment should be within one year and construction within 3 years. Also the owner should not own more than one residential house for exemption of sale proceeds.

T&C apply

S

Sidharth Pushp

25 Days ago

I have recently changed my job. My salary has more than doubled from the previous one. How is it gonna impact my taxes?

CA Amita Shanbag     14 Nov 2018

You have to note the exemption threshold limits depending on what type of taxpayer you are eg woman, senior citizen etc. Over and above that you are taxed, and you can avail of deductions under Chapter VIA. Once you save on these deductions by investing, you can reduce your tax burden on the increased income. Else over the exemption you pay higher taxes on increased income depending on the slabs.

T&C apply

S

Sukumar Kotyan

3 Months ago

I have resigned my job and received my Pf amount with Less 10% TDS deduction.How to get that 10% deduct money? at present am not working anywere and also i don have form 16 to claim income tax

CA Amita Shanbag     29 Aug 2018

File your return ITR with gross income and eligible deductions under Chapter VIA, in tax payable deduct TDS already deducted

CA Amita Shanbag     29 Aug 2018

File your return ITR with gross income and eligible deductions under Chapter VIA, in tax payable deduct TDS already deducted

T&C apply

A

Amit

3 Months ago

Sir/Madam,

I have received communication of proposed adjustment u/s 143(1) a of Income Tax Act, 1961 three days back.

As per my Form 26AS I have received Rs. 5,296/- as Interest of Fixed Deposits with Bank.

They have asked me to response on the same with a period of 30 days from the date of issue of the communication.

Kindly guide what I need to do.

Thanks for your help.

Regards,
Amit

CA Amita Shanbag     29 Aug 2018

The interest should be disclosed in gross income

T&C apply

Y

Yogesh Mangaj

3 Months ago

I am a salaried individual, and I traded in F & O with turnover less than 1cr and running into losses. Do I have to get my tax audited by a CA?

CA Amita Shanbag     29 Aug 2018

In case of Loss from derivative trading, since profit (Loss in this case) is less than 8% of the turnover, therefore Tax Audit will be applicable 44AD (read with 44AB) (here again even if the turnover is less than 1 crore Tax Audit will be applicable).

T&C apply

R

Raj Jose

3 Months ago

Can I accept 20 lakh rupees in NRO account from non-relative as a gift?

CA Amita Shanbag     29 Aug 2018

Certain receipts have been specifically exempted from these provisions. In case of individuals, receipt of either cash or immovable property or other specified property under the following circumstances is not to be subject to tax in the hands of the recipient:

receipt from relatives;non relatives is not exempt

T&C apply

S

Sunil

3 Months ago

My wife have received IT compliance for non filing of IT returns in Mar'18 ( NMS - FY2016-17), referring 26AS for FD interests ( Also she received 'Investment (NIN03)' compliance for MF investment of 35 lacs, which I will mention my PAN number as source, anyway )

After a discussion with a buddy CA, we have listed the possible option to fill in compliance portal against the verification id. Please verify the planned response and correct, if required.

She pledged her excess 40 sovereign jewels to hubby for loan of 19 lacs, which is paid to her in various dates in 2015-2016. The amount received was invested as FD on Mar'16

I have also received comments that AO will not get convinced on this etc. If its legal , then how can he question it.
Can you people, verify these and update me right proceedings.

CA Amita Shanbag     29 Aug 2018

The Fd interest should be disclosed as matching with 26AS. The source should be justified

T&C apply

P

Penchalaiah Ravuru

5 Months ago

My HRA is not considered. need help in getting the refund

CA Neeraj Bansal     18 Jun 2018

Hi... We can Help you in getting the refund by way of filing income tax. you can call pr whats app 9718046555

NA Na Na     18 Jun 2018

If this is for the current AY, then the same can be included in your ITR and then claim refund. If this is for any previous year, depending on the year, ITR revision can be considered.

CA Anand Chaurasia     18 Jun 2018

Hii, Please send your detail on mail id anandchaurasia11@gmail.com.

NA Na Na     2 Jul 2018

Hi, you can call me on this number +91 9967694668

CA Amita Shanbag     2 Jul 2018

claim the exemption in the computation and claim the refund

T&C apply

S

Saikat Ghose

5 Months ago

For tds to be made on property purchase above 50 lacs, when is the tds to be paid. Is it to be paid at time of sale deed or at time when advance payments are made before sale deed.

CA Amita Shanbag     2 Jul 2018

advance payments

T&C apply
 
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