K
Karan
Personal tax saving
Facebook
Twitter
Linkedin
There is no topic as such as personal tax. You have to provide more info about this.
A RAJGARIA & ASSOCIATES 11 Aug 2021please contact 7679875546
T&C applyS
Sam
Want to know whether court can attach PPF matured or not in case of maintenance for DV or Divorce case
Courts by virtue of the Constitution are vested with a very wide range of power which also includes attaching of various account to recover money. However to bring more clarity the whole case needs to be studied thouroughly.
T&C applyM
M.N Harshith
Suppose.,
I have 1 cr,
I invest in Equity MF,
After one year,
I made 20% profits means 20 lacs,
Now
I'll be taxed 10% on profits, so 10% of 20 lacs = 2 lacs
Now I gained 18 lacs after tax deductions..
*Now*
On that 18 lacs...
*Do I again have to pay tax according to its tax regime slab..... Which is 30% above 15lac*....??
There will not be double taxation . Capital Gain of Rs. 20 Laks taxed @ 10% or 15% on the basis of holding period (LTCG/STCG) so the balance remains after paying capital gain tax will not be tax again. For further assistance you can reach us at ca.rahuldwivedi@gmail.com or 9004485377
CA Puja Sharma 6 Aug 2021You are calculating tax of Rs. 20 Lacs twice. There will be LTCG tax rate of 10% that will apply in your case because you are selling after 1 year.
For more information, you can connect with me at ca.pujasharma@outlook.com
One income cannot be taxed twice. This is the basis rule of income tax. So you don't have to pay tax on the remaining amount.
T&C applyK
Kiran
My father purchased agriculture land in 2008 later changed to Housing plot and completed constructing building in 2010. after his death in 2016 I and my brother partitioned land and building. We both sold the land and building in July,2020. The total sale amount is transferred to my account only. I have purchased new House and invested some amount in 54 EC bond and saved some amount for tax in my savings account. Now we do not have proper records(bills) of construction expenditure. 1.How to calculate Indexation of construction as I do not have old bills of construction. 2.Am I sole responsible for tax as total amount credited to my account.
1. How much is the amount incurred on that Land and Building. 2. Need to see sale deed paper for taxability and TDS deducted by buyer. Plesae contact at pnkrgarg@gmail.com or Mob.: 9958558840.
CA Puja Sharma 5 Aug 2021Both the owners of the propery will be indivdually responsible for the taxation purpose. If you have receievd the sale consideration which also includes your brothers share then you will be reposnible for the share which only belongs to you. For more detailed consultation please connect with me at ca.pujasharma@outlook.com with more information.
CA Rahul Dwivedi 6 Aug 2021Capital gain is taxable in the hands of person in whose name property is registered irrespective of receiving the contribution. So you and your brother both will be liable to pay tax. However as it belongs to FY 2020-21 it can be planned within the limitation of Income Tax and Tax can be saved.
For further assistance you can reach us at ca.rahuldwivedi@gmail.com or 9004485377
R
Rohit Pratap Singh
I am an NRI. I invest in Indian mutual funds. On redemptions, MFs shall do a TDS of 23% on my remittance. Can I avoid it if I form a HUF and invest via HUF as HUF shall be a resident? Are there any taxation on mutual fund capital gains for HUF?
