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CA Navin Jain  

CA in Practice
10Year 1Month  experience

A dynamic Chartered Accountant who is passionate to provide quality service to the clients and have an expertise in the filed of International Taxation and DTAA's.

  
   
 
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Address

23B NS Road
Kolkata
Pin code - 700001

Availability

Mo,Tu,We,Th,Fr,Sa

10:00 am - 7:30 pm

Services

✔ Business Incorporation✔ Accounting / Book keeping
✔ Company Auditing✔ Compliances
✔ Direct Taxation✔ Indirect Taxation
✔ Personal Wealth Planning✔ Payroll Management
✔ FEMA Compliances Consulting✔ Internal Audit
✔ GST

Industry Experience
✔ Consultancy
Education
    B.com (Hons),CA
Associated with (Firm / Company Name)
    EY
Awards and Recognitions
    EY Excellerator

G

Gargi

2 Months ago

For claiming exemption under section54f, Regarding the two house ownership condition:
Does the following case make you an owner of the residential property with regards to Section 54f: Part ownership of house property i.e. inheritance of percentage share due to death of mother in law.

CA Naman Maloo     22 Mar 2020

Yes you are the legal owner of such property.
If this property goes for sale in future you would receive the proceeds.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com

Gargi     22 Mar 2020

We had no role towards the cost of the house property; so are we still eligible to be "beneficial owners?" If we are not beneficial owners, can we claim 54f exemption?

CA Navin Jain     26 Mar 2020

Yes you would be regarded as the beneficial owner of the inherited house and 54F exemption may not be available

T&C apply

K

Kumar

2 Months ago

Olymp trade is an online trading platform since 2014. Do I have to pay tax for earning money from it. If so then how and in which category.

CA Naman Maloo     25 Mar 2020

Yes it depends on type of shares and trading.
Yes you definitely needs to pay tax.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Navin Jain     26 Mar 2020

If you are earning gains, taxes are required to be paid. The nature of the gains needs to be evaluated. For professional assistance/ advice, connect at +91 9830375894.

T&C apply

K

Kushal C

2 Months ago

I live in the US. My brother in India is the sole beneficiary of an inherited house (per my parents' last will) that he is selling and intends to remit some of the proceeds to me in the US. What is the best way to transfer the funds and how can both of us minimize taxes from the sale? Do I need a NRO account to receive the funds?

CA Naman Maloo     20 Mar 2020

The only way to save capital gain tax is to invest in new house or bonds and he can include you in this by giving you a share in this.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Navin Jain     21 Mar 2020

The taxability of the capital gains would be in the hands of the owner which in the case is your brother. Further, since it is an inherited property the original cost of purchase can be reduced from the sale proceeds to compute the gains. Further, if the property has been owned by your brother and your father together for more than 2 years then the indexed cost can be taken (i.e., the cost can be adjusted with the inflation index rolled out by the Income Tax Authorities).

Even after the same if there is any gains then your brother can think about investing the gains in the prescribed bonds to reduce/ remove any gains.

With respect to remittance of funds, the funds can be remitted to you in your foreign bank account after completion of certain formalities.

For detailed discussion/ professional help, please connect at +91 9830375894

T&C apply

A

Akshay

2 Months ago

I forgot to fill the income declaration forms and also I don't have any investments till now. My TDS is deducted. How can I get this back in ITR?

CA Naman Maloo     20 Mar 2020

You can get credit of TDS deducted if you file the tax return.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Navin Jain     21 Mar 2020

You can claim the deduction at the time of filing the return even if the same is not given to your employer at the time of filling the tax declaration. Also, if your income would be below the taxable limit, then any tax deducted can be claimed a refund. For detailed discussion/ professional help, please connect at +91 9830375894

CA Ankit Chaudhary     26 Mar 2020

At the time of filing Income Tax return, you get the credit of all the TDS deducted and deposited in your PAN by the deductor.

If your tax liability is less than the tax already paid (Including TDS) then you claim the refund of the excess tax paid by filing your Income Tax return. Due date is 31st July, 2020. Thank You!

Ankit Chaudhary - 7604033340

CA Abhinandan Jain     31 May 2020

Golden opportunity for you. If you have not made investment in deduction allowed under section 80C and if you wish to invest in them now, the government has allowed to make such investment upto 30.06.2020 for the financial year 2019-2020. Even if the tax has been deducted and paid by the employer you can still claim it as refund in the Income Tax Return to be filed. Feel free to contact on jainabhi189@gmail.com for any assistance.

T&C apply

A

Ashok

2 Months ago

Hi, i have 3 Flats, staying in one , and one is let out and other is empty. I pay Loan EMIs for all three ... I claim tax relieve under 80c and 24 , Any other acti I can utilize. i pay huge emis with interest. please help.

CA Naman Maloo     21 Mar 2020

Are you showing the third flat as deemed rent?
No other than above no relief would be available.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com

CA Rakshit Jain     21 Mar 2020

From F.Y. 19-20 onwards an assesse can claim 2 houses as self occupied. So what you can do is the one on which you pay the maximum interest show it as rented one. and the other 2 as self occupied. For more info. contact @ 9587334442

CA Navin Jain     21 Mar 2020

Kindly connect at +91 9830375894 for discussion. We can do a analysis on what can be the best way to offer the same for taxation.

T&C apply

A

Abhishek Jain

2 Months ago

I am working in a company from 1st July 2015, and 31st march 2020 will be my Last working day. Am i eligible for Gratuity. The rule is of 5 year or 4 year 8 months of 4 year 240 working days?

CA Kantha Manjegowda     6 Mar 2020

technically yes you are eligble in my view

CA Navin Jain     10 Mar 2020

Yes

T&C apply

M

Madhavi Zambare

2 Months ago

I am a medical professional and my income for current financial year is 47 lakhs. can i avail the 44ad scheme and what r the requirements for the same

CA Ram K     9 Mar 2020

yes. for details pkease contact me at acasairama@gmail.com or 9291318650.

CA Naman Maloo     9 Mar 2020

You are medical professional thus you need to file under 44ADA.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Navin Jain     10 Mar 2020

For professional advice, you can reach out to me at +91 9830375894.

T&C apply

M

Mayank

2 Months ago

Attention (BJYPXXXX0Q), Your PAN has been flagged for not filing of ITR for FY 2018-19. Please file your ITR or submit online response under e-Campaign tab on Compliance Portal (CP). Access CP by logging into e-filing portal (My Account) - ITD

CA Naman Maloo     9 Mar 2020

We need to see what notice has been sent.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Navin Jain     10 Mar 2020

The said PAN has been flagged for non filing of return. The Income Tax Department gathers information from various sources and also there is a requirement of reporting of certain transactions to the Income Tax Department, it seems basis the same the PAN has been flagged for non filing the return. The way forward would be to analyze whether there is a requirement of filing a return, if yes the same should be filed, if not then response is to be submitted giving reason for non filing.

For professional advice, you can reach out to me at +91 9830375894.

T&C apply

R

Rich

2 Months ago

My grandfather got some money by selling paternal property to government. Then he distributed that money to my father and uncles equally. Is that money taxable income for my father ?

CA Navin Jain     10 Mar 2020

Gift from relative is not taxable and hence the distribution of sale proceeds by the grandfathers to his sons should not be taxable. For professional advice, you can reach out to me at +91 9830375894.

CA Kantha Manjegowda     10 Mar 2020

gift not taxable

T&C apply

R

Rohit Singh

4 Months ago

I have got a demand Notice of Rs 34560 from AO income tax for AY 12-13 but I have took a loan from a person and invested in stock market and this was vanished completely and I didn't filed any return of that period. Now there is a civil suit for the same in district court but AO have created a demand for it. What should I do now?

CA Naman Maloo     11 Jan 2020

First of all you should have attended the assessment proceedings and explained AO your situation.
Now you must file appeal before CIT(A) if you feel demand is not proper.
If you need any professional consultancy feel free to contact me at canamanmaloo@gmail.com

CA Navin Jain     12 Jan 2020

The first point in to analyze the demand and the reason for the same. Once the same is done then appropriate action - rectification/ filing an appeal can be initiated. For professional advice, you can reach out to me at +919830375894/ canavinjain1@gmail.com.

T&C apply
 
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