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Monisha
Hi, my taxable income is 786000 and I didn't have any knowledge on tax saving ways.
I have maintained my balance of 400000 in savings account and I have invested in mf that comes with no lock-in period.Now my tds deduction sum up to 70000.Please advise if there is some way to claim any tax benefit.
This taxable income is after declaring my interest in home loan for 1,50,000
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There are numerous tax saving instruments. You have to invest as per your risk profile. You may consult us to assess your profile and invest in the instruments that suits our profile. Kindly connect with us at deepakkucheria@gmail.com or +91-991174028.
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Monisha
Hi, my taxable income is 786000 and I didn't have any knowledge on tax saving ways.
I have maintained my balance of 400000 in savings account and I have invested in mf that comes with no lock-in period.Now my tds deduction sum up to 70000.Please advise if there is some way to claim any tax benefit.
This taxable income is after declaring my interest in home loan for 1,50,000
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Amandeep
I booked a flat for 80 lacs in Jan 2021 and paid 50% installment (40 lacs) on 08 Feb 2021. I was ignorant about the TDS deduction till May 2022. On 18 may 2022, I filed TDS on Property (Form 26QB) and paid the amount 30,000 along with the interest fees(4900/-) levied due to a delay in filing. I filled the correct date of payment (08-02-2021) and FY and AY were populated by website itself.
When i sent the Form 16B to my builder/seller, he/she is now asking me to file TDS again in the current FY 2022-23. I will have to bear the loss of 34900/-(30,000 + 4900) if i file again. Kindly guide, what can i do.
please approach your Assessing officer he will make necessary correction in the records if you provide material evidence. in case any assistance please contact tax experts or revert to us 7338838605
CA Deepika Boyina 3 Jun 2022Tds u/s 194 IA has to be paid within 30 days from the end of the month in which it is deducted by filing form 26qb. It is to be filed or paid tds for each installment/ payment.
If you have doubt you can contact deepikajagan01@gmail.com.
Dear Amandeep, Technically you are correct in depositing the TDS, as per Law every-time you makes the payment you are supposed to deduct the TDS & Deposit the same with the govt. You can shoot an email to builder regarding the same & ask him to revert whatever query he has in this regard. Your builder will get the credit of TDS deposited by you in the FY 2020-21. The second option available to you is to approach the Assessing officer for correction in the AY. For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377.
CA Puja Sharma 6 Jun 2022You can go for correction of challan by approaching the jursidictional Assessing Officer.
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Varun
I am working with australian client and he is looking for a solution to transfer more than $250k throughout the year, in something like $10-50k amounts. Probably needs to be through a company, we can make that happen. Would prefer to keep it onshore in India, but if need be we can transfer offshore to another company.
Hi, yes you would need to register a company or atleast hold a PAN in India to execute such transaction. However, we would need to discuss more in detail to understand the other aspects of regular transaction.
you can reach out to me on 8707297344 or email at damini.agarwal@thewitcorp.com
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Sanket Dhoble
My Father(retired) sold a flat for 30L. He had purchased the flat for 10L in 2008. What will be the capital gain income tax he will need to pay? He is going to give that money to me to buy a new flat in my name.
For computation of capital gain you need to give the sale proceeds received details and for cost you can apply for indexation and then arrive the capital gain tax. if you need any clarification contact tax experts or revert to us 7338838605
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