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Question & Answer


G

Gaurav Kasera

26 Feb 2021

Hello,

I am 24year Old person and my Salary is 9.6LPA with 96k Variable Bonus and PF deduction would be 6.8k/Month I have a PPF account in which I transfer 30k/year and There is loan going on 35lacs with 50% partnership I will be paying House rent of 10k/month. How do I save Tax and invest some money for better return.

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N

Nidhi Ruparelia

25 Feb 2021

I will take joint home loan with my husband and the property will on my name for taking stamp duty exemption..now can my husband take tax benefit on same property??

Replies (2)                          

CA Hunny Badlani       25 Feb 2021

To claim the home loan based deduction, assessee should be both co-owner as well as co-borrower for the house property

CA Roomi Gupta       25 Feb 2021

No.....If you are a co-owner of the property and are repaying the entire loan then you will be eligible for 100% tax benefits under section 80C and section 24. These sections provide you with tax deductions of 1.5 lakhs on interest payments and 2 lakhs on principal repayments respectively.
For more info visit our website: www.tarunguptaca.com

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G

Gaurav

25 Feb 2021

I create consignment value above 50,000. GST Exempted, HSN: 1209, Seeds, fruit and spores, of a kind used for sowing , so my concern is that e way bill required or not, for delhi to west Bengal

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P

Priyamvada Shende

23 Feb 2021

TDS on Sale of Property - I understand the liability to deduct tax is on the buyer. I have following questions -
1. If I pay 1% of sale consideration as TDS to Gov, then should I pay the seller only 99%?
2. At the time of registration, do I need to pay TDS on entire sale consideration or only on the installments paid so far?

Replies (1)                          

CA Roomi Gupta       23 Feb 2021

Yes for both questions.After deduction of TDS on the amount, it is to be deposited to Central Government within a period of 30 days from the end of the month in which deduction is made and it should be accompanied by a statement in Form 26QB.
For more detail contact us.

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A

Anamika Singhai

22 Feb 2021

Can I purchase resell property to avail tax benefit under section 80eea or it should be new launch project only by builder to avail benefit under this scheme

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