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Prateek Patodia
My maternal wanted to gift a sum to my daughter but since that would be taxable, can he gift it to my mother and she gifts to my daughter? Will the transaction be allowed under Income Tax as its basically a circular gift but done in allowed exemptions? Details, Mama - Mother (Siblings), Mother - Daughter (Grandparent)
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Yes, Mr Prateek it would work, but make sure to make a gift deed of all the transactions (gifts) entered.
For more info mail me vmassociates2017@yahoo.com
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Shraddha
Where can i find DIR-3 KYC Form for the year 2019-20 on MCA Portal ?
The updated form is yet not available on the site. The old form DIR 3 KYC is available on the site
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Vishal
I purchased a flat jointly with my wife in which my wife is co-owner as well as co-borrower.but my wife is not working and her contribution towards emi of loan is nil.the total emi of home amount of loan is being paid my me only.
Can I claim tax exemption on 100% interest amount of home loan or will it be based on property share?
In our property paper,share proportion of property is not mentioned anywhere.
You can claim 100% interest amount. For any queries, pls contact me @ karteekcacma@gmail.com
CA Naman Maloo 6 Jun 2019Technically you both should take 50% benefit of interest but since you are paying 100% interest you can claim the benefit.
If you need any further assistance you can mail me at canamanmaloo@gmail.com
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Praneb Prabhakaran
I'm doing business in Senegal...I would like to Import wood(Timber) from Ghana to Kerala..as my company registration in India is still under process I would like to know what all will be the taxes levied on the arrival at the port if it is coming in my clients name directly also my company (assuming my company registration is complete by then)
I would also like to know if GST is attracted in both senarios
Are you registering a company in India?
Any which ways in both the scenarios as the goods are getting imported in India Basic custom duty as well as GST both will be levied in India.
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Sudhir
I have purchased a plot in feb 2017...construction started the completion was filed in april 2018 and completion received in feb 2019...if i sell this house now in june 2019 whether it will be LTCG or STCG and why
Dear Sudhir,
As per IT act, Long term capital gain(LTCG) will be considered if you hold your property for more than 24 months. And as per the facts provided by you, Land has been purchased on Feb,2017 and will be sell in the month of June,2019. So it will be LTCG.
For further discussion you can drop your query on cashashank2106@gmail.com
Since you are selling the house and house was completed in April 2018 there it would be short term capital gain as its been 15 months of such construction and to qualify as a long term capital asset you need to hold the asset for 24 months.
If you need any further help you can mail me at canamanmaloo@gmail.com
