R
Ritu
I am a govt employee who fall under tax slab. I have purchased stocks worth rs 11k approx from March 22 to April 22 with profit of oy 600 approx. Also I've invested in mutual fund worth rs 8k till now from March 22. What to do? Shall I file return? Or sell the stocks? Will it be considered speculation if i sell now?
Facebook
Twitter
Linkedin
Speculation refers to intraday trading when you purchase and sell the stock on the same day. In your case, it is not a speculative transaction.
T&C applyK
Kejitan Dontas
If I sell a property that has no O C (no valid possession certificate) can I avail of LTCG taxation rates?
if Assessing officer required sale date at that time you need to produce proof by way of EB bill or property tax etc.
T&C applyS
Shruti Sharma
I have registered myself as a legal heir of my deceased mother and now in ITR login I have two accounts one as " Self " and another one is as" Legal heir" . I filed tax of my mother from Legal Heir account and their was some applicable refund of 73000 which was failed initially as ITR department tried issuing it to the closed account of the deceased. after several months of followup i got a link to raise a refund reissue ticket and I nominated my bank account details for the refund credit. When I open the legal heir details account it shows the name of my mother as the user and her PAN details and when ITR departments initiated the refund credit It shows me the error that PAN details is not matching with bank details . It wont match ever the account details will be mine will hold my PAN details and not the deceased . They asked me to change the name in PAN or Bank Account to match the name of the deceased to get the refund credit . I need the right advise to follow to get my refund back
L
Lalith Kumar K
I paying a complete home loan EMI but property is in my father name and for the loan I am the main applicant and my father is co-applicant.
Can I show the amount paid as EMI for home loan under income tax Deduction section 24b as I am the main applicant and paying the emi but property is in my father name?
Conditions to Claim the Tax Benefit on the Property
#You must be a co-owner in the property.
#You must be a co-borrower for the loan.
#The construction of the property must be complete.
There have been situations where the property is owned by a parent, and the parent & child together take up a loan which is paid off only by the child. In such a case the child, who is not a co-owner is devoid of the tax benefits on the home loan.
Yes, you can take the tax benefit of the EMI paid against the loan. As per the standard practice. But as per law, you are not allowed to take the benfit.
H
Hema
A central govt. educational institution is paying an invoice of 4 lacs + 18% GST. The invoice is for providing artists (professional services) for an event. What are the deductions applicable? My opinion is 10% TDS on Income and 2% TDS on GST will be applicable in this case, so total 48000/- dedcution will be there. Am i correct?
In your case 2% on GST is not applicable since GST is not your income. We advised for central govt educational institution in tax matters. If you have specific query kindly consult tax advisor and reach us 7338838605
CA Deepak Kucheria 28 May 2022Prima facie you are correct. You just need to ensure whether this educational institution is covered under "Department or Establishment of Government". For more information, kindly connect with us at deepakkucheria@gmail.com or +91-9911744028.
T&C apply
