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Tirathsingh
Hi , Im Tirath Singh, i had sell my property at Rs 27.5 lakhs 2 months before. My question is do i need to pay any income tax on that ? and if then how much % ? and if i use this money to purchase another property will i be charged any income tax?
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Mr Tirath, you would be required to first ascertain whether you have made any gains on Sale of your property.
If yes, whether they are long term or short term.
Depending on that your tax liability would be ascertained.
If it is long term, then you can claim exemption of long term capital gains by investing in another residential property.
For clarification, mail at vmassociates2017@yahoo.com
You need to tell the type of property, when it was purchased, what type of new property will you purchase and then I can guide for personal consultation you can mail me at canamanmaloo@gmail.com
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Nitin
I am employed with Singapore based firm in India and paid USD in my Indian saving account per month. As there is no tax deduction from Employer end, no Form -16 is generated. How can I claim exemption under section 10 for HRA, LTA etc and other tax exemption and how to submit proof for the same? Thanks
You need to check your salary slip if you are getting such break in your salary slip then only you can claim it.
If you need any assistance in filing your return you can mail me at canamanmaloo@gmail.com
As far as i understood, you must be rendering freelancing services. Are they issuing form 16A ?
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Shraddha
How to deducted a tax on payments to be made to a website designer for website design and development? With conditions as 20000 advance payment and 20000 payable once the website is live.
Its a professional service therefore TDS will be deducted u/s 194J @10% at payment or credit whichever is earlier as amount is above 30,000.
So at the time of payment you need to deduct TDS on 20,000.
If you need further assistance you can mail me at canamanmaloo@gmail.com
Thanks for your help, if i haven't deducted tax on advance payment made can i deducted tax on balance payment and then make the payment.
CA Naman Maloo 10 Jul 2019You can do that but you will have to pay interest on same..
It would be better if you can take personal consultancy
Thank you so much for your help
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Nandkumar
I booked an under construction Flat in May 2017. Registration was done around November 2017.
I availed Home Loan around December 2017 and have been paying EMI since then.
The construction completed in February 2019.
I am yet to take possession which may be delayed due to a small amount remaining to be paid as my own contribution.
Can I avail tax refund on tax paid during year 2018-2019 which was deducted at source by my employer ?
If so...How?
I cant see any link between your home loan and tax refund.
If your query is whether you can claim repayment of home loan as deduction they my answer would be you can take deduction of principal amount in 80C and not for remaining part.
If you need any further assistance you can mail me at canamanmaloo@gmail.com
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Rahul
There is a threshold limit of 5000/day of GST exempt in purchases from unregistered supplier, does it applicable for both intra-state or interstate inward supply?
This RCM is still not active it has been postponed. Also as and when it comes into effect this wont apply to inter state transfer because as such if one person is doing inter state supply of goods he needs to get registered under GST compulsorily so in such case RCM would not come into picture.
If you need any further assistance feel free to contact me at canamanmaloo@gmail.com
