Hi,
i have withdrawn my epf & eps money in fy 2016-17 (exactly july-2016 to be precise).
in fy 2016-17 i do not have any other income apart from epf and eps (since i didn't joined any other company after feb-2016).
my epf came with 10% tds since i withdrawn my epf before 5 years (4.8 years to be precise).
after referring to many documents i got somewhat confused so i request the ass...
I have 2 cases:
1. A case having receipt from advocate profession is 7.10 Lacs. No any books of accounts are maintained and profit shown more than 8 % of receipt. Can I file the ITR 4s only providing the amount of receipt, Net profit after claiming expenses. Although statement of income and expenditure & Balance sheet prepared and kept for record purpose.
2. A house wife is running embroide...
Hello Keerthiga
I bought a Flat through a resale before registration and construction in 2014 and I have now completed all my payments to the seller and also to the builder. Earlier, the seller had made milestone payments to the builder for which the builder has been deducting TDS and paying to the Govt and the same goes for me. So when the transfer was made to me, a tripartite agreement wa...
Hi
My father had purchased a flat (condo) in an Apartment building for a total consideration of INR 1 Lac in Pune in 1983. 2 years ago, all the owners of the block of condos got together and commissioned a builder to redevelop the flats. At that time, the value of the flat was around INR 70-80 Lacs.
During the redevelopment, all tenants received a sum of INR15K per month as compensation...
Dear Sir,
My Father (aged 67 years) sold the joint property co-owned by his brothers since last 50-years. The amount received through this Sale is 100% Taxable due to Profits under Capital Gains (Gains is 100% taxable due to property appreciation in last 50-years as per Government declared land Prices in that local SRO.)
These funds received through this sale is partly (60% of funds) used ...
Dear Sir/Madam,
I am not sure if this is the right forum to raise this but I need advice and guidance regarding a question I have about transmission of shares in a demat account in the event of death of the sole account holder and the nominee.
My grandfather held a demat account in his solo name, he had included my father as a nominee in the said demat account.
My grandfather passed away a...
Sir,
Query related against about property registration.
One of my close relative and friend as well, he wanted to sell his property, worth Rs.19lacs, since he is unemployed. Having too much family pressure and daughter's education, he had debt almost crossed 8 Lacs, he has been paying 12K for that exist borrowed money for more than 6 years.
Property worth Rs.19 lacs. He asked full cash b...
Hello,
I work as freelance webdeveloper working from Home and I have all my clients outside India.
Basically there are two different types of work I perform:
I use to sell my softwares on Australian Based Digital Marketplace named Envato (www.envato.com). My softwares are listed on Envato Marketplace and customers from all over the world download the application from that marketplace. ...
Hi Team,
I need some help from you, its related to Let out property. Actually I have two flats one I have purchased in 2014 and got the possession for the same in April 2016 and in Aug, 2016 I purchased another flat. Both the flats are in outskirts of the city so both have been rented out. This time I was able to declare only one flat in Let Out Property as for the other flat I am yet to pay t...
I was given a retention bonus lets say Rs X (post Tax received approx 0.7x) in Dec 2015 (FY 2015-16) with the condition that if I leave the organization during the next two yeras I would need to return the amount.
i'm moving on from my organization in March 2017 and I need to now return the pre tax amount to the company. The organization is saying that since this is in the next FY they will n...
Hello, I'm doing a informative interview assignment for a course towards my Bachelors in Business Administration with a focus in Accounting, and I was hoping you could answer some questions for me. I only have ten to ask, and I'd appreciate it if you would be able to take the time to answer them.
Question #1: Tell me about a typical day?
Question #2: What do you do? What are the duties/fu...
Hi,
I am a salaried person. So far, I have been filling my income tax basis the form-16 from employer. At the parallel, for past 5/6 years I have some bit of direct investment in share market. I have never reported this income/loss from share investment in my annual ITR. Somehow, the annual assessment from department has been positive all the time.
Now, how to get this straight since this...
I have invested a sum of around Rs. 10 Lakh in this FY in couple of campanies (Ponzi schemes). But I only got some of the returns from those companies and rest is all loss. So, Is that possible if I can show that investment or payments towards those companies as capital loss or Theft loss in this FY.
I have invested this 10 lakh in mine and my family members name. So, we all got some amount ba...
My father, a former PSU employee, a retired pensioner currently, wants to start domaining (buying and selling domain names).Here are some links regarding domaining for your reference:
Link 1: http://www.sitepronews.com/2014/07/08/beginners-guide-successful-domaining/
Link 2: http://www.dnoai.com/
1) From the initial research that I have done on the internet, it seems that domain name (withou...
Dear Sir/Madam,
Our family had long disputed property which has been settled out of court recently from which I received sum of Rs 28 Lakh .
When enquired about re-investing I realize that I can utilize these fund for buying property only until then I should park this sum in capital gain account in nationalized band and use it for buying properties in next two years or I should buy gove...
Hi
I am living in USA. My wife's sister and her husband has bought some property last year. Now they are in need of showing their income, but as per their tax filing last year, they didn't mention sufficient income.
Hence, they are asking me to help them by giving them a gift letter that I gave some 30 lakhs, with which they want to project as they have bought the property with that money....
It may be kindly noted that the property holding tax pertain to holding no C.269 which has been massively excess billed to so many holds which is not at all any fairness in assessment to property holding Id C.269. As per the substantial verification and reconciliation into the revenue record at Rourkela Municipal Corporation office, the same may be verified that the adjacent holding 50 properti...
I have a private limited company and my turnover is around Rs. 24 L annually. My 80% of this income is derived from websites like elance and odesk, where I bid for projects. Payment received through PayPal, clients pay in USD, PayPal deposits in my bank after converting into Rupees through CitiBank NEFT. In PayPal it shows both these transactions clearly, what client paid in USD and what they t...
One of our clients has received Intimation under section 200A of the Income Tax Act, 1961 regarding short deduction of Tax on Salary paid to one of his employee under Section 192. However the amount of short deduction was paid by the employee on self assessment while submitting his own Return of Income. Our client have intimated the ITO TDS that the amount of short deduction has already been pa...
I am an employee of CMPDIL, RI-I, Asansol, a subsidiary of Coal India Limited. My yearly Income is Rs. six lakes. Due to continue treatment of my wife, its required reestablishment medical bill nearly Rs. 40,000/- per month which prescribed by Medical Officer of Coal India Limited, i.e. at ECL Central Hospital, Kalla, which is under Coal India Limited. as per Sl. No. 24 Section Proviso to secti...