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Ranganatha
Hi Sir/Madam,
My wife got gift deed site(1200 sq ft) from father in law and We have constrcuted house by taking home loan of 43 lakhs from canara bank.
Myself and My wife are co-applicant and EMI fully paid from my salary since she is not earning member(House wife).
Please let me know in any manner i can use income tax benefits of home loan in this case(Sec 24 and 80C).
Thanks,
Ranganatha
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You only can take benefit of 80C of principal repayment made of housing loan. Interest on Loan deduction is exclusive available to owner of property. If you are co-owner of property then you can get deduction to extent of share
CA Naman Maloo 20 Jun 2021Legally if you are also the owner of the property then in that case you can claim deduction of such interest and principal.
T&C applyA
Abhinav Pawar
44AD
What is your question?
You can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
For a detailed resolution of your query you can contact us directly at badlaniassociates at gmail.
T&C applyU
Ujjwal Garg
Hi.
I am a ujjwal, a freelancer , i have received money from different person ( a total of 14 lakhs) for building websites for them.
15-20 People transferred money to my account like someone 10 thousand, 1 lakh ,2 lakh , 50k etc.
So now which itr should I fill and approximately how much tax i have to give without any deductions.
You can use ITR 4 and show the income under presumptive taxation scheme.
You can read more about the same here: https://www.taxontips.com/itr-4-now-available-for-ay-2020-21-who-is-eligible-to-file-such-return/
You can file your return under ITR-4 form. It would be advisable to hire a practicing CA for proper preparation and filing of your income tax return. You can contact us directly at badlaniassociates at gmail.
T&C applyS
Sumit
Sir,
My GST number is from Bihar. I am purchasing a TV on GST invoice from Amazon business website to resale it. I want to know, is it Mandatory for getting the item delivered to my GST registered address for ITC claim or I can bill it to my GST address and get it delivered in any state/city? Please help.
Dear Sir,
Pursuant to Section 10(1)(b) of the IGST Act, you can have the item delivered from your supplier directly to your buyer and the tax will be charged on the basis of your registered place of business, of which you can claim ITC.
Hence, it is not mandatory for getting the item delivered to your GST registered address for ITC claim and you can bill it to your GST address and get it delivered in any state/city.
Thanks & Regards,
CA Aditya Dhanuka
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Ragendu K R
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