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Sougata Chowdhury
My company has incorporated laat 25 th sept 2020, will i get relaxation of 180 additional days for filling commencement form 20A , as per govt announcement due to pandemic?
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Mridula C
My husband works abroad. I am a homemaker. Have bought a property as I as applicant and husband as co-applicant. How to reduce tds ? Since I am not working can insubnit form 16b? Where do I get this form from?
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Mridula C
What is tds when buying property
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The rate of TDS is 1% but upto 31.03.2021 it has been reduced to 0.75%. For any type of return filing related task please connect with us at ca.pujasharma@outlook.com or +91 94615 28592
CA Puja Sharma 16 Mar 2021In case of immovable property the rate of TDS is 1%, if the sale consideration exceeds Rs. 50 Lakhs. Further upto 31st March 2021 the rate of TDS have been reduced to 0.75%.
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Anuj Gupta
I and my sister inherited a flat from our mother. We go the flat transfer in my name to make the process easy. So the flat is in my name now. We have rental income from the flat. If the rent is paid in my sister account. Who is liable to pay the Income tax. And is there any issue with this arrangement. Do I need to get my sister name also added to the flat ownership.
Yes, if your sister is also the owner of the property and she is receiving rent then she will be required to register as co-owner.
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Manjunatha
Can I run a Business for Charity And avail tax Discount? Please help me
Yes you can have a Charitable Trust. If the trust is having 12AA certificate then there will be tax exemption on the income of the trust.
CA Naman Maloo 21 Mar 2021It cannot be a business you can run a charitable trust and do charitable activities and get tax benefits.
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