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Ratna Likhita
I have a property that was bought more than 5 years ago it was given for development and the builder soud House that included a part of our property. This transaction was in the current financial year. Should the money be transferred within the same financial year or can it be done in the next financial year
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It is not necessarythat the money should be transferred in the current financial year but the possession should be done in the current year
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Karthik Ravishankar
I am solving a problem. The question is - Marketing results in y-o-y revenues increasing by 100% of the allocated budget. If the allocated budget for Marketing is 2 lacs, then the revenue increase is 2 lacs or 4 lacs ?
As there is a 100% y-o-y increased the increase would be by Rs. 2 lakh
Karthik Ravishankar 29 Apr 2019Thank you Naman
CA Naman Maloo 29 Apr 2019if you need any further help with regard to income tax you can contact me at canamanmaloo@gmail.com
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Parvesh Kumar
Hello team,
My query is that I have spent 6lakh through my credit card during fy 2018-19. I did these transactions for utilities bill payments and mobile recharges as I am running a telecom shop. My annual income is below 2 lakh. So my credit card payments would be considered as my income while filling itr.
Hi Parvesh, If your annual income is below 2 lacs, how have you spent 6 lacs through your credit card?
It wont be added to your income, however, you will have to justify the source of money for paying credit card bills.
For detailed answer/discussion, you can reach me out +91 9967694668
How can a person with income of just RS 2 lac can make payment of credit card bill of more than RS 6 lac
Parvesh Kumar 30 Mar 2019Ca utsav , I wasn't expecting this kind of answer...might be I had saving in my account or I borrow from someone or I used it for other people's transaction and get hard cash from them. So you can't say how it was possible..please go through question thoroughly that I have an telecom shop...and what we do is take money from customer and pay his mobile and electricity bills..I am asking this way
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Amardeep
I have recently purchased property (value more than 50 lakhs) from Punjab state development authority via e-auction mode.My question is that am l liable to deduct TDS @ 1% from state authority as in the case of individual seller ?
As per section 194IA Buyer has to deduct TDS @1% if value of property is more than 50 lac irresctive of the seller therfore u hav to deduct TDS @1%
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Nikhil
How to verify different branches of a store in a particular location. Like Nike or Croma has different branches in Bangalore. What is the proper and unique way to identify each of those branches ? Like with License number or GST IN or what else is it ?
