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Question & Answer


R

Ratheesh Chellappa

15 May 2019

Hi, my father has a piece of land in which he built home in half a space and remaining half is empty now. I am planning to build a home in the remaining space by taking a home loan. Am I eligible for up to 2 lakh interest payment tax deductions, because only the loan I am taking in my name, property will be in the name of my dad. Can u guide me?

Replies (2)                          

CA Naman Maloo       15 May 2019

if your father is the owner of the house then you cant claim the benefit of repayment of home loan even if the loan is in your name and you are going to repay it.

If you need any further assistance in tax or want to know more about how you can claim benefit what are other ways you can mail me at canamanmaloo@gmail.com

CA Vaibhav Mago       15 May 2019

No, Ratheesh you cannot claim interest deduction if home is in your Dad's name. What you can do is take loan in your Dad's name and let him claim interest deductions or first transfer the home in your name via Gift and then you can claim interest deduction

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S

Shraddha

15 May 2019

Can I claim GST on office rent paid? The owner to whom I pay rent is not register under gst. please tell me if I can claim gst on rent paid.

Replies (2)                          

CA Naman Maloo       15 May 2019

if you owner is not registered under GST and he is not paying GST then how will you claim GST on rent paid?

CA Vaibhav Mago       15 May 2019

Shraddha on what basis will you claim ITC of GST?
To whom have you paid GST since owner is not registered?

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S

Shraddha

14 May 2019

Under gstr 3b I enter an extra 5400 while filing, How should I claim for refund now? This happened in July 2018. Please help

Replies (1)                          

CA Naman Maloo       14 May 2019

Yes you can claim refund from GST website since the amount is above ₹ 1000.
If you need any further consultation or help you can mail me at canamanmaloo@gmail.com

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R

Reddy

13 May 2019

My parents want to give 1.40 cr gift and i am us citizen how to take please suggest

Replies (2)                          

CA Vaibhav Mago       13 May 2019

Well, Mr Reddy there won't be any tax implications in India regarding such gift transfer.
However, they can transfer only $250000 each in each FY.
And for transferring such amount you would certainly need 15CA and 15CB to be filled by a Chartered Accountant.
You can contact me at 9877542172 or mail me at vmassociates2017@yahoo.com

CA Naman Maloo       13 May 2019

There will be no tax implications on such gift transferred to you in India.

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S

Shraddha

13 May 2019

I am closing my Gst account within a month, so when should I fille for annual return (GSTR-9)?

Replies (2)                          

CA Naman Maloo       13 May 2019

Before filing Final return and surrendering your GST number

SHRADDHA     13 May 2019

Thank You

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