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Nivedita
How is filing tax for an OPC different from a private limited company?
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The procedure is the same. We can help with all the compliance. Contact on 9719144360
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Sanket Wajge
I am working in South America since last 18 months. I am planning to return to India in the next couple of months. While coming to Chile, I did not open NRI/NRO account in India. Now, I want to transfer all my savings here to India. Can I transfer money in my savings account in India? Will there be any tax implications? I have paid tax here on my salary.
R
Ravindran S
Section 89 of Income tax act and Form 10E relates to arrears of Salary received from employer, while claiming relief u/s 89 in the Income tax return. If arrears of interest is received from a Builder through a Court Order, under which section should I claim relief and how it should be shown in the Income tax return.
Dear Sir,
The clarifications in my opinion is as follows:-
1. The settlement deed should be well drafted to classify the compensation and interest received by the builder as a capital receipt. Section 2(47) of the Income Tax act, includes extinguishment in the rights of a capital asset as a Capital transfer which is subject to capital gains tax under special rate of taxation.
2. Compensation should be subject to tax. either in capital gains or on other sources as the case may be.
3. It will not be appropriate to segregate 50% in wife's account if initial source of fund to purchase the flat was from your own income only. Thank You!
A
Arjun
As my landlord is not having PAN and he was ready to sign the ‘No PAN declaration form’, I have mentioned the actual rent of Rs.15200 while submitting the rent receipt in TDS with the landlord signed declaration.
But now I got the below intimation from my team that this is wrong and I should submit proof for only 8300 if landlord is not having PAN as per organization policy.
1. I heard that I can file the full rent with ‘No PAN Declaration form’ while doing the ITR. Is that right ?
2. If so, do I have to submit the wrong rent receipt with Rs.8300 now and revise it while doing ITR ? Is that possible to revise the HRA claim in ITR?
3. Or I should let the payroll team to reject only my HRA claim(clearing other declarations) and submit the proofs only while doing ITR ?
WHich is the better option ?
Dear Arjun Sir,
Greetings for the day!!
In case you will not be able to submit the PAN of the landlord, your employer will not consider the rent paid as deduction as per rule 26C of the Income Tax Act.
Giving wrong receipts to the employer is not advisable.
You can claim this refund at the time of filing of Income Tax return as per section 10(13A).
You may get a notice from Income Tax department for this mismatch between the amount which employer has reported against your report in ITR. You can reply back with the rent agreement and proof of payment to settle the issue in your favour. Thank You!
Y
Yash Mann
I need to file Income Tax Return and need CA help.
Hi Yash,
I can help you with the same.
Kindly contact me on 9967694668 or urvi@fintaxconsulting.in
Dear Yash,
I can help you with the same.
You can contact me on 8850927779 or dhaval@snhca.in
Dear Yash Sir,
Greetings for the day!!
Please feel free to contact us at 9339496519. Our team will be privileged to serve you. Thank You!
Hello,
Kindly feel free to contact us. We can help you with your queires.
You can contact me at 9689375979....
