H
Hari
If I have 7 lakhs salary per annum and if I deposit 40 lakhs in current account will income tax send a notice for me and as limit for current account is 50 lakhs, I Don't need to worry right and I am talking about residential current account
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Yes, you may receive a notice from Income Tax department if you deposit Rs. 40 Laks as cash as Banks report such transactions to Income Tax Department as SFT transactions. For more information or detail, you may connect with us at deepakkucheria@gmail.com or +91-9911744028.
T&C applyM
Mamta
I have sold a property held for 20 years at 22 lacs, I beleive I am liable to pay 12.5% long term capital gain tax.
Suppose I invest in a new property and buy residential plot of 22 lacs so I beleive I don't have to pay abovesaid 12.5% . If I sell again new property at 23 lacs within a month will it fall under short term capital gains? Do I just need to pay tax only for 1 lacs ? Please suggest my tax implications
If you would sell the new property within 1 month then the whole exempted amount of LTCG will become taxable. For more information or detail, you may connect with us at deepakkucheria@gmail.com or +91-9911744028
T&C applyS
Sampad Sarangi
Here is the situation
I am a contractor with a contract to deliver service to a company.
I have sub contracted the work to a sub contractor who will deliver the service to the company on my behalf.
My commission is 13%.
For a work done by sub contractor of Rs 100. I send B2B to company of 100 + 18% GST.
The sub contractor sends me B2B of Rs 87 + 18% GST
Does the sub contractor needs to be paid any GST tax refund?
A
Abhishek Singh Bhilware
Regarding Issuance of a Corporate Bond.
Background:
I, as a Corporate Body ( Private Limited Company), would like to issue NCD with a Fixed coupon through Private Placement route.
The NCD is going to be subscribed by my angle network (US Based Retail Individuals).
The issue size is 3Cr for 5Y period.
My Question:
1. Can I add additional coupon (Interest) payment clause whereby if my firm hits a revenue growth of 20% then I will roll out a bonus coupon of 1%. If revenue growth is 15% then bonus coupon of 0.5% would be paid to the debenture holder.
R
Rajiv
Proceeds from CG (residential) is divided into equal parts (Father and son). Father invested CG proceeds into a new house. I also invested my part from CG proceeds in the same property. Sale agreement is in the name of Father only. Father will claim deductions under section 54. Can I also claim deductions under section 54 for the amount I invested in the same property? Will there be a query from IT department?
