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Ronilui
I am 65 years old and am a housewife. My only earning is from FDs and Savings and hence want to know if I can submit 15H form if my income is 3.5 lacs from FDs and Savings account clubbed. Will tax be deducted after I submit the 15H form and then I will get a rebate or tax won't be deducted as the limit is 5 lacs now? What will be the case for my children who earn from their salary and FDs an amount below 5 lacs? Will they just need to submit 15G form only?
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Yes you can submit Form 15H for no deduction of TDS. For your children if the Interest Income is below 2.5lacs then Form 15G can be submitted otherwise not. For more info. call 9587334442
CA Naman Maloo 19 Jan 2020Yes they can save tax deduction by submitting form 15G and H respectively if amount is below 5 lakh.
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Vivek Bhatnagar
I sold off a commercial property in Dec 2019 (bought in 2013) with capital gains, as selling price was more than indexation rate. Now I am planning to sell shares (bought in Jan 2018) which are incurring losses, so it will have capital losses. Can I offset LTCG from property sale with capital losses from shares. Please advise
Long Term Capital Loss on sale of shares sold after 31.01.2018 can be stt off against any Long term capital Gain. Therefore in your case you can set off the said loss. For more info call on 9587334442 or mail to rakshit1192@gmail.com
CA Suresh Bharathwaj 19 Jan 2020Yes you can set off the said loss
CA Naman Maloo 19 Jan 2020Yes you can.
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Sukanta Haldar
Dear Madam/Sir, Greetings!! I have purchased a flat in the month of Nov.2017 and the construction of that flat was completed in the year 2015 but now the builder is asking to pay GST @ 12 % for which will pay the bill of GST. Is that possible? Please advice.
If construction was completed and CC was obtained before you booked/purchased the flat and made the first payment to the builder, no GST can be charged by him.
CA Naman Maloo 19 Jan 2020No if the construction was complete and the completion certificate was received and you didn't make any payment before that he can't charge GST.
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Mukesh
I don't have a PAN card, my bank account was opened using Aadhaar Card. How much money can I store in the account? Is there a limit?
there is as such no limit of money in savings account as long as you have proper account to justify the source of such money and you have correctly filed your income tax return. For more info call on 9587334442
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Fazeel
I haven't made a bank account yet. My date of incorporation was on 22 august 2019? what will happen? I have received the money in my personal account for my business, but for that, I will be paying taxes separately. Is this legal? Please help!
If you are doing business as an individual there is no compulsion to open a current account for business, but it is advisable to open one.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com
