K
Kumar Nawin
My son gives me Rs 81000 as monthly rent, Me - Rs 40500 & my wife - Rs 40500 (we both are owners). Since this per head rent is below Rs 50000, does he need to deduct TDS on rent or not. Please help. thanks. Kumar Nawin
Facebook
Twitter
Linkedin
No need to deduct TDS because the limit of Rs. 50,000 is pplicable to each co-owner seperately.
CA Roomi Gupta 3 Mar 2022No need to deduct TDS as property is owned by 2 person and rent paid is below the Rs. 50000. But rent paid must be transferred in different bank accounts and must be supported by documents. For more detail reach us @ www.tarunguptaca.com
T&C applyS
Siddhant
I am a freelancer coach.I earn somenof my income through a hong kong academy in my online classes.They send me hong kong dollars through paypal which converts it into Indian rupees into my bank account in India.Now is foreign incoming money taxable?
Hello,
Regarding Income Tax, any income(Indian or Foreign) earned by a resident would be taxable.
Regarding GST, You can supply such services without payment of GST under LUT.
I hope that this answer satisfies your requirements. For any query, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
Yes taxable . If tds is deducted in that country no need.
CA Puja Sharma 3 Mar 2022Yes, if you are not paying any tax on this income in Hong Kong. Since you are a ROR, all your income earned during a year will be taxable in India. For a more detailed discussion, you can connect with us at ca.pujasharma@outlook.com
CA Naman Maloo 13 Mar 2022Yes it will be taxable and it can also be liable for GST.
Do read this to understand more: https://www.taxontips.com/is-it-beneficial-to-work-as-an-employee-in-a-company-or-to-work-as-freelancer-taxability-when-working-as-a-freelancer/
R
Rupam Shome
I would like to sell my property and therefore would like to know how to minimize my capital gains tax liability
You can minimize capital gain tax liability by taking advantage of the tax exemptions under different sections of the Income Tax Act. For more detail reach us @ www.tarunguptaca.com
Dear Rupam,
There are various options are available to Plan out Capital gain Tax. For detailed discussion you can reach us on ca.rahuldwivedi@gmail.com or 9004485377
You can connect with us at ca.pujasharma@outllok.com for detailed consultation
T&C applyR
Rahul Gandhi
Can we sale or purchase residential property below circle rate...?
As per Section 50C if a property is sold below the Circle Rate, the circle rate of the property would be deemed to be the rate at which property has been sold and capital gains tax would be levied assuming that the property has been sold at the Circle Rate. For more detail reach us @ www.tarunguptaca.com
CA Rahul Dwivedi 24 Feb 2022Dear Rahul,
Yes you can sale/purchase property at price less than circle rate however please note for the purpose of taxation (Income Tax) the circle rate will be deemed to be the value of property.
For detailed discussion you can reach us on ca.rahuldwivedi@gmail.com or 9004485377
N
Nawnit Singh
Hello I am seeking some consultation regarding every possible subsidies provided by state and central government for setting up a solar panel manufacturing company/plant. I am willing to pay if required further for your in depth analysis and service if required. thank you
