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A
Akash
Im a student. My brother works in USA. He had sent ₹ 7 Lakhs in my bank account during 1 year. Will I be liable for taxation according to Indian Law.
In case this has been sent for family maintenance in India, this will not be taxable in your hand.
CA Madhur Gupta 19 Jun 2021no tax impact
CA Rahul Dwivedi 21 Jun 2021Not taxable
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Shivani Yadav
Hi, my current annual salary package is 5 Lakhs i was entitled to a bonus of 1,25,000 but i have recieved only 1,13,269. Can u please tell me why my tax has been deducted and how can i reclaim it?
Total Tax on 625,000 income comes to approx 38,000 in case no deductions are there under Section 80C, 80D or for HRA etc. For exact calculation of tax, some more information is required on your CTC breakup and tax benefit expenses/investment. For more details you may connect on 8826016982
The basic exemption limit is 5 Lcas so if you have not submitted the docs to your employer for 80C deductions might be possible he has deducted TDS. You can claim the TDS refund by filing Income tax return.
For detail discussion you can reach me on ca.rahuldwivedi@gmail.com or 9004485377.
C
Chaitanya
Hi, I recently got form 15ca & 15cb for repatriation and submitted that to bank. now the bank reviewed the forms and asked for some corrections in the both the forms. Now for doing correction should I get new form 15ca & cb? Should the older one get cancelled? will filing new form cause issue as previous forms were filed but were having incorrect detail?
Yes, New form has to be submitted with new UDIN. Old 15CA and 15CB has to be revoked. CA has also to revoke old UDIN. For more details you may connect on 8826016982
CA Rahul Dwivedi 28 May 2021Agreed with CA. Dhiraj JI
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Siva
I looking forward to start an ecommerce business, what is the best approach to start?
If you are talking from the perspective of taxation you must consult a professional and take his assistance to understand as to what all registration would be required.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com
Dear Sir,
Its a good idea. Few more details are required to suggest you better on this. You can call me for any further discussion.
Thanks & regards,
CA Dhiraj Satnalika
dsatnalika@gmail.com
8826016982
M
M K Gupta
I am treasurer of a residential apartment association. The data corresponds to FY 19-20.
Income:
FD interest of about 8 Lakh and bank deducted 10% TDS.
Collection from members: 32 Lakh
Expense:
Repair and maintenance + common expenses security, electricity, etc: 38 Lakh
Advance Tax: Rs 10000/
ITR not yet filed.
How to calculate Income TAX amount?
How to show TDS deducted by bank, Advance tax and actual income tax in Balance sheet and income expense report?
Dear Sir,
You need to get your accounts audited from a CA and he can prepare everything for you. You can also call me for any further discussion.
Thanks & regards,
CA Dhiraj Satnalika
dsatnalika@gmail.com
8826016982
I would suggest you to take a consultation with us to discuss things in detail.
If you need professional assistance feel free to contact us at canamanmaloo@gmail.com
Greetings for the day!!!
In my opinion, in case you are talking about an housing society then:
1. The income from way of contributions from the members less the expenses on such activities will be deductible under section 80P.
2. FD interest is taxable. There is view that if the housing society maintains FD with co - operative banks then tax is not chargeable on such income.
3. TDS and Advance tax has to be shown as asset in the Balance if the same is refundable as per final tax computation. Otherwise a provision for tax will be created and it can be transferred to such account.
However before finalizing it is advisable to consult a professional for better interpretation of facts.
For any help or advice contact on 9587334442 or rakshit1192@gmail.com
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