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Question & Answer


K

Kiran Shendge

11 May 2022

Hi,
I have 18 LPA fixed income but I want to reduce a Tax Deduction of every month. Can you please suggest me some investments

Replies (2)                          

CA Puja Sharma       11 May 2022

You can connect with me at ca.pujasharma@outlook.com for consultation related to Income Tax planning.

CA Roomi Gupta       11 May 2022

There are multiple provisions by which you can lower your taxable income. For example, under section 80C you can save Rs 1.5 lakhs annually. 80C investments include FD, Equity Linked Savings Scheme, Insurance policies, etc. Also, there are a bunch of other deductions under Section 80 such as 80D, 80E, 80GG, 80U etc.
For more details about Tax Planning connect me @ www.tarunguptaca.com or 9216216819

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D

Deepak Kumar

11 May 2022

1996 mai humne ek land buy ki or uski payment 230000 ki .land power of attorney par buy ki or us time hum kisi wajh se uski registration nahi kar paya ab 2022 mai hum uski registry karna chahte h lekin wahi landlord keh rahe unhe capital gain tax padega pls guide kare kya padega unhe jabki hum unko cash 230000 ,1996 mai de chuke h abhi koi cash unko nahi de rahe h

Replies (1)                          

CA Puja Sharma       11 May 2022

Yes, the seller will be required to pay capital gain tax to give legal effect to the sale of the property.

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S

Sukant Kumar

10 May 2022

Between "Special Allowance" and "Residual Choice Pay" , which is better from tax liability point of view ?

Replies (1)                          

CA Puja Sharma       11 May 2022

In my opinion residual chopice pay is better because it includes HRA, LTA etc. Special allowance does not not include HRA, LTA, Mobile reimbursement etc.
For Income Tax consulattion, you can connect with me at ca.pujasharma@outlook.com

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K

Kamal Kumar

10 May 2022

Can i take a co loan on a property which is on my wife's name and can we both claim rebates under income tax.

No Reply  


D

Dileep Kumar Dora

10 May 2022

I've filed ITR for the AY 2021-22, but not aware of e-verification is mandatory, recently got a mail saying higher TDS is applicable, now I e-verified but it's showing your condonation request is submitted for approval, return in invalid till approved. its a big blow for me as I was not aware of the higher TDS rule, how can I escape from higher TDS. please help.

Replies (1)                          

CA Puja Sharma       10 May 2022

There is no other option other than you have to wait till the status of your IT return becomes "under processing." You cannot also file ITRU, in my opinion, because there is no additional income to be reported now.
IT return, once uploaded, has to verify within 120 days, and then only the dept takes it up For processing.
For more information, you can book my appointment at ca.pujasharma@outlook.com

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