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Charlie
Can a father give a car as a gift to his son ?
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Yes, a father can gift a car to his son, which will be entirely tax-free for the son because they are relatives.
For more information, you can connect with us at ca.pujasharma@outlook.com
Thank you so much .
Do we should prepare any gift deed for the car received from father ?
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Prince
What would be the difference between pvt.Ltd and LLP in terms of taxation. How the tax will be calculated for the firm and the directors. Ex. I would be one of the directors and what would be the tax for the firm and myself calculated separately.
For LLP the rate of tax applicable is 30% but for Companies, it will range from 25% to 30% generally. Further remuneration drawn by partners and directors is taxable in the hands of the recipient in both the cases.
T&C applyM
Munesh
Can I show my parent Life Insurance policy in My Investment ?
Yes, you can show their LIC policy under your investment if you depend on you. However, you cannot claim any income tax benefit against their premium
T&C applyG
G01
I have property yet to be registered. Is it ok if add my father(a pensioner) as co owner at time of registration ? And do I need to get a gift deed done ? Will the rent incurred in my father’s name over joint account reflect in my tax returns ?
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Kartik
Can we use our parent details while filling the LUT under GST? I work as a freelancer
