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Pradnya
Hallo i wish to deposit cheque of Rs.35 lakhs which is recd by my brother is it taxable ?
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Dear Pradnya,
It is Not taxable. If the amount is not returnable It can be shown as Gist from brother & not Taxable. If the amount received is returnable it can be shown as Loan .
S
Shantanu Bose
Hi mam. I need your small suggestion.If I receive payment of 15Lakhs on behalf of my friend in my bank account and transfer the amount to him the next day. Do I need to pay income tax of that 15L ???
D
Devika
I will be submitting project report to the bank for loan of 10 Lakhs and want to ask whether is it necessary to have capital expenditure needed more than working capital required since my industry would be service sector(computer repair and maintenance).
P
Paridhi
I was an nri recently returned to india permanently..I have an nri account and plan to buy a 2 bhk flat from the money in nri account..is it ok that I can pay the party with nri account money
Hello, NRI returning to India permanently can buy a house from his NRI account.
CA Naman Maloo 10 Oct 2021Yes you can easily buy flat not an issue.
Just remember about FEMA rules where a NRI needs to close his nre account after some time when they return in India.
To book consultation with tax experts: https://www.taxontips.com/tax-notice-personal-consultation/
T
Tushar Gaur
Hello
I have switched my company in August 2021
The income I earned for period April 2021 to July 2021 from my previous employer was 250000
Though I left my previous employer by breaking a bond for which now I have to pay 200000 to them
Now, for my current employer, I was entering my tax declarations and want to enter the "Income from previous employer" section
So should I input whole 250000 or can I just input 50000?
Thanks
Tushar Gaur
Dear Tushar,
You should input the entire 2.50 Lcas
For further assistance you can reach me at ca.rahuldwivedi@gmail.com or 9004485377
Dear Tushar,
Normally the new employer makes payment on behalf of the employee for breaking the bond. But If in your case, payment is made by you then you will have to prove to the Income tax that only Rs. 50000/- is your income. Going by the Law it should not be a problem to show Rs. 50,000 as taxable income from previous employer.
