D
Dutta Sinha
If my income is NIL from salary in the financial year and STCG is less than 2.5lakh do i need to pay cagital gain tax on it if no other source of income for the financial year
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Dear Dutta,
No tax liability in your case.
For further Consultation you can reach us on ca.rahuldwivedi@gmail.com or 9004485377.
No tax has to be paid in your case. For any assistance in return filing, you can connect with us at ca.pujasharma@outlook.com
T&C applyS
Standesh
iam a 41 yr old engineer from bangalore, who have invested my money in stocks (india, usa) and manage my mother's portfolio too. one of my friends is asking me if i can manage his money too. i was considering opening my own little llc kind of small company to use it for managing friends' and relatives money. i future i want to use this company to protect my own portfolio from taxes and also to get maximum deduction and save taxes . please advise what i need to do to make my portfolio into a small portfolio holdings company that would help save tax.
A
Arjun
What are the tax implications if I am getting paid to my indian bank account from an overseas employer for remote work? The amount is to the tune of USD 60,000 which is around Rs.45,68,000/- annually.
Article 16 will be applicable of DTAA between INDIA & USA in your case, for more further queries, contact : cayashchopra@gmail.com
CA Puja Sharma 21 Apr 2022Your Income will be taxable in India. DTAA provisions will apply. For IT-related consultation, you can connect with us at ca.pujasharma@outlook.com
CA Rahul Dwivedi 21 Apr 2022Dear Mr Arjun,
In simplified way, In your case entire entire salary amount is taxable in India and Tax liability will are as per applicable Slab.
In case if you gets Professional Fee/consultancy then GST registration will be mandatory. Definately for both the cases Income Tax liability will be as arise in India.
For Further consultation you can reach us on ca.rahuldwivedi@gmail.com or 9004485377
R
Rohan Chavan
Stamp duty and registration charges benefit under section 80C :- I have paid stamp duty in 25th of March 2022 and sale deed or registered the property in 15th of April 2022. can I claim Stamp duty and registration charges benefit under section 80C in financial year 2022-23?
In my opinion, stamp duty benefit to be taken after the registration is complete against the residential property. Take the benfit in FY 2022-23.
For IT related consultation, you can connect with us at ca.pujasharma@outlook.com
80C is on paid basis and not on accrual basis and hence you can claim it in the financial year 2021-2022. for more queries refer 80C of income tax act for further consultation cayashchopra@gmail.com
CA Rahul Dwivedi 21 Apr 2022Dear Mr. Rohan,
As per provision of Income Tax Act deduction U/s 80C is payment based deduction which can be availed once we make specified investments or inure expenditure. So the stamp duty paid on 25th March 22 can't be availed as deduction in FY 2022-23. For further consultation you can reach us at ca.rahuldwivedi@gmail.com or 9004485377
S
Sravan
Hi,
I am buying a property (4 Acres of Agricultural land) from a friend from same village as myself. This land is about 2kms from the municipal limits of a Town (Population of 1.50 lakh). Friend acquired the land via a gift deed from his grand father in 1977.
My friends CA is not deducting the cost of acqusition and sales mediator commission from the monies..
Below is my calculation of LTCG.. Can you please correct me if something is incorrect?
Cost of 4 Acre land in 2001 as per Fair market value by Government - 3,20,000
Cost Inflation Index adjusted value of 4 acre land (3.17 multipled)- 10,14,400
Sale price of 4 Acre land (April 2022)- (13,97,000*4) = 55,88,000
Commission paid by seller for mediator for sale = 1,00,000
Amount lialbe for LTCG Tax (55,88,000 - 10,14,000 - 1,00,000 ) = 4474000
20.8%(20% tax+ 4% cess) tax on Amount liable (0.208*4474000) = 930592.0
Thanks,
Sravan
