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Shamanth Chandra
I have a query. I waw filing ITR for the year 2020-2021. I work as a coding teacher in online at Whitehat Jr. It is not permanent and its kind of contract/freelancer where we take classes. Can we avail 44ADA while returning. They have issued Form 16A for the TDS deducted by them under section 194JB.
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Do you fall under 44ADA? Have you checked it?
I think you should check whether you would be considered as professional for 44ADA or not, for that more information and discussion is required as normally teaching service is not covered under 44ADA
You can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
H
Hari Kumar Thangudu
I am selling my flat in next month that I have purchased in 2014. I bought it at 50L + ~4 Lakhs registration fee. . Now I am selling it at 63.5 Lakhs. After home loan clearance, I would be receiving 35 Lakhs. Few doubts I have are as listed below:
1. Do I need to pay capital gain tax. After considering Indexation, amount that i am receiving is less than what I have invested.
2. Do I need to invest again in plot/house to get benefit of tax exemption.
Hello,
AS per the details provided there would be Long Term Capital Loss and therefore, no tax would be liable on sale of such flat.
I hope that this answer satisfies your requirements. For any query or if you want to get exact capital gain calculation, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
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Shubha
Hi. My son who is 16 yrs old student is freelancing web development for a client directly ( not through portal). He is being paid 3K- 5K for his work . Since he is a minor with no bank account or PAN or isnt registered the money is being paid to my gpay account. Also I am an employee of private firm and paying taxes for my salary.
The client is now asking him to issue a invoice from an invoice generator (without tax or GST) in his name. Is it legal to issue an invoice in son's name when he isnt registered and when this amount isnt declared in my tax filings ? How do we go about this in a legal way?
Hello,
Income of minor is clubbed with the income of that parent whose income (excluding minor's income) is higher, for income tax provisions.
Minors have no capacity to contract and therefore the guardian of the minor can issue invoice and make compliances.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
Hi,
I concur with CA Hunny's views, but there is a major digression.
Clubbing applies in case of passive incomes only.
When a child earns an income by way of any work or from an activity for which he uses special talent or knowledge, the minor is required to file an income tax return.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka
98365 43836
Therefore, in this case Ms. Shubha, you need to apply for PAN of your child and issue the invoice in his name itself.
T&C applyA
Alok
A
Anurag Mishra
Can intials in father name be printed on PAN CARD ??I am facing issue .. e.g. name is R.P Singh
According to Rules for allotment of PAN, we cannot provide initials for Father Name
T&C apply
