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Karthik
Due to COVID restrictions we couldn't make rental agreement for 2020-21. want to know if i can have rental agreement now with effective from 01st of April 2020 to 01st of March 2021 or suggest me right way to claim my rental allowance as exemption
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Yes you can make rent agreement now. If you are a salaried employee and your employer deducts TDS on your salary then give the agreement along with rent receipts paid now to your employer. He will adjust the salary and TDS deduction accordingly.
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Manu
I want to know, income from Capital accounts is taxable at what rate in case audit of firm is not happened?
Please elaborate your query. Are you talking about interest on Partner's capital account? Interest on Partner's Capital is business icnome and taxable on the basis of slab rate applicable to individual.
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Sarah Khan
I am an NRI person, I do have an NRI account in an Indian bank.
My question is that my mother is a retired govt teacher, she wants to transfer money in my NRI account for my marriage.
How can she transfer it without paying any tax?
And do i need to pay a tax for receiving that money ?
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Raghuram Gotety
I have purchased house for 6,40,000 in 2011 and sold it for 18 lakhs on Sep 30th 2020. How much long term capital gain tax i have to pay and by when i have to pay. Please help.
Capital gain would be around 7.5 lakh. Tax on same would be at: 20%.
If you need any assistance or need phone consultation you can mail at canamanmaloo@gmail.com or if you need online tax assistance you can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
As information provided by you there is capital gain of Rs. 7.50 around and it is taxable @020% but you can save Tax by reinvesting the proceed . For more detail can contact us at 9216816819
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Kalindi Anjan
I m working with nationalize bank,can I cliaim tax benefit for employers contributions of nps under 80ccd
yes you can
CA Roomi Gupta 7 Dec 2020Yes you can claim deduction under 80CCD(1) for employer contribution under NPS. For More detail feel free to contact us .
CA Puja Sharma 9 Dec 2020Yes you can claim the deduction.
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