K
Kjain
I need to transfer 20lakhs rupees to my friend from my NRE account to his personal current account, is there any tax obligations for the sender or recipient of the money transferred?
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Is the recipient in India?
To book phone consultation click here: https://www.taxontips.com/tax-notice-personal-consultation/
G
Gauav
Hi,
I bought an agriculture plot in Bihar in year 1987 near a small town at rate Rs 500 per Dicbil (unit of land).
Now its market (sale) value is Rs 1 Lakh per Dicbil. Value for Stamp Duty calculation is Rs 2 Lakh per Dicbil. Now plot comes in Nagarpalika.
Plz clarify..
1. I will sale 1 Dicbil (unit) ....What will be the value taken for Gain tax calculation. Will it be Rs 2 Lakh or Rs 1 Lakh ?
I get mixed views from friends.
2. Hope there will be some indexation benefit. Am I right ?
G
Gauav
Hi,
I bought an agriculture plot in Bihar in year 1987 near a small town at rate Rs 500 per Dicbil (unit of land).
Now its market (sale) value is Rs 1 Lakh per Dicbil. Value for Stamp Duty calculation is Rs 2 Lakh per Dicbil. Now plot comes in Nagarpalika.
Plz clarify..
1. I will sale 1 Dicbil (unit) ....What will be the value taken for Gain tax calculation. Will it be Rs 2 Lakh or Rs 1 Lakh ?
I get mixed views from friends.
2. Hope there will be some indexation benefit. Am I right ?
2 lakh.
Yes there will be indexation benefits and you need to also find its valuation on 01.04.01 for calculating capital gain.
To book phone consultation click here: https://www.taxontips.com/tax-notice-personal-consultation/
K
Konda
I have question what is perfectmoney is it legal how website convert pm into inr because pm doesnt need any documents only for transaction we need it........
T
Trivendar Singh Rathore
I have to remit payment to a foreign game developer. There are two different cases for the remittance, please help.
Case 1: Paying a fee to a foreign Individual freelancer for developing games for me.
Case 2: A foreign individual developer has given me a license to publish its game in exchange for 80% profits to be paid to him.
My questions are:
Q1. What taxes do I need to pay in both cases? How do I pay them, any forms to be filled or the bank will handle on their own?
Q2. How to approach the bank for such commercial foreign remittances? What documents do I need to provide them as an Individual?
Thank you so much in advance.
There cannot be a clear cut answer you need to share the agreement between you and them.
Their country of residence.
Tax residency certificate of them if available and then I can comment on the taxability of such payment.
Don't release payment to non-resident before knowing proper tax implications or it may lead to 100% disallowance of expense.
You can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
Hello, thank you so much for your response. There is a mutual agreement only that I can publish the game to different app stores and I will pay them, the 80% profits earned from their game.
Country of residence : Morocco
Tax residency certificate is not available
And yes there is no such payments as I am first waiting to understand the taxation and then proceed with payments. I am working as an Individual so I am taking all the required precautions to avoid any issues.
Hope you can help me out. Thanks again
