Question & Answer

We are 5 members in the family, all having saving account, 13 lacs in each account , we don't file ITR, we are deciding to buy a flat worth of 1 crore, half amount we will pay within march and remaining half after April 2021,my question is in this case I will receive notice from income tax.

My father sold his residential property for amount 90 lac and he purchased a new property for 48 lac now can he transfer left over balance to his son as a hissa from his father property if he do so there is any LTCG tax ?

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Does the customer(consignee) has to pay late fees/interest on his input tax credit, in case seller(consignor) didn't file his GST?

I was employed by a company from the year 2015 till Oct 19th 2020. I took up a freelancing job for around 2 months where I earned around Rs 456934.8 from Oct 26th 2020 till Dec 11th 2020. I recently took up a new job in a company where they asked me to fill out a form12c which includes profits/losses/gains from profession. Do I need to show the entire amount mentioned above?
How can I save my tax? I bought some items needed for my work like macbook and ipad around 2 lacs, can I use that as expenditure towards work?

Thanks

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I am looking to sell my property in March. Want to know how much will be the Long Term Capital gain and what do I need to declare for 2020-2021 tax filing.

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