As per recent notification from GST, the hotels are required to charge 12% if the room rent is less than 1000 per day.
https://www.cnbctv18.com/economy/gst-council-meet-hotel-rooms-below-rs-1000-per-day-to-attract-12-percent-tax-13971862.htm
For Hostels & PGs for Students, and Working Professionals, we would like to clarify the following scenarios.
Our business - We take properties on ...
Hi there,
I am Raja, a NRI (USA Work visa holder) and I would like to know my income tax obligation in the below scenario
I am a cryptocurrency a.k.a virtual digital asset (Bitcoin, Ethereum and etc.,) trader in USA.
1) Buy the crypto currency (Bitcoin, Ethereum) in USA.
2) Send the digital currency to my Bitcoin wallet in India.
3) I sell the digital currency (Bitcoin) from my Bitcoin...
Dear expert Professionals,
Recently I was travelling to Delhi with cash of more than 1 Lakh for a family trip. That was my savings over the period of time from house/family expenditure. While returning back to Kolkata from Delhi I handed over the money to my friend in Delhi and ask him to deposit the money in local HDFC bank against my credit card where there was an outstanding of Rs. 127000...
Dear expert Professionals,
Recently I was travelling to Delhi with cash of more than 1 Lakh for a family trip. That was my savings over the period of time from house/family expenditure. While returning back to Kolkata from Delhi I handed over the money to my friend in Delhi and ask him to deposit the money in local HDFC bank against my credit card where there was an outstanding of Rs. 127000...
Equity
Taxpnl Statement for Equity from [deleted] to [deleted]
Realized Profit Breakdown
Intraday/Speculative profit 1912.6
Short Term profit -211.7
Long Term profit 0
Turnover Breakdown
Intraday/Speculative turnover 1912.6
Charges
Account Head Amount
Integrated GST - Z 38.9189
SEBI Turnover Fees - Z 1.2614
Clearing...
Myself and my sibling hold a joint property in Bangalore in our names.
My sibling is currently not in India and may not be in India while selling our joint property hence has made a registered GPA (for sale) appointing me as a lawful attorney.
The GPA allows me to receive my sibling's 50% share of sale proceeds too, in my name.
We both wish to gift the entire sale proceeds immediately ...
Party A (Seller) bought an Apartment directly from Party B (Builder) for Rs.70 Lacs during pre launch 8 years ago in 2014 in Bangalore and Party A deposited 1% TDS in the name/PAN of Party B for this transaction.
After completion of construction of the Apartment in 2021, Party A did not register his property and sold the Apartment to Party C (Buyer) for Rs.1.4 Crore through Assignment Agree...
Dear Sir/Madam,
I had booked a plot of land measuring 1150 sq ft with a builder at Rs 150000/- in August 2019.
He was to build a duplex in the said plot of land with built up area 2061 sq ft( Ground Floor- 837sq ft, 1st Floor 837 sq ft and 2 nd Floor 387 sq ft) and sell the duplex along with the piece of land to me.
The total consideration amount agreed was Rs 6500000/-, out of which Rs...
Currently my age is 56 yrs and have my investments with unrealised capital gains in both short and long term equity shares of stable big companies and paying towards a home loan (only one house) with annual interest repayment above Rs 2 lakhs and Section 80C savings Rs 1.5 lakhs. Other than house I have only equity and bank SB interest income of around Rs 20000 and no other income.
Currentl...
Hi,
I have query regarding form 12b. I have recently swicthed organization. I am having difficulty in filling up columns 6,7,8 of the form. Also, I don't understand the annexure form.
What should be filled in annexure A and annexure B if I am required to do so.
Tax computation sheet was provided to me by my previous employer.
Below are few of the components of the salary breakup.
...
I joined a housing society in 1987 bought a 1650 sq feet flat by instalments from 1988 to 1992 in delhi.which date will be considered for purchase.or date of possestion or date of draw will be considered for income tax purpose.
My total purchase price was rs 640000 n 1992.I am paying rs 3000 per year as house tax to municipal corpration with receipt. I am spending rs 4000 on electricity rs 300...
Hi,
I am planning to buy resale flat in Pune. This building and said flat has not received completion certificate. Partial completion certificate is received for some flats and those flat owners received possession from builder. Society is also formed by those flat owners.
First owner has not received the possession letter from builder.
This building is joint venture between first owner (...
Dear Sirs,
I am having a landed property in Thrissur ,Kerala. As the same is not getting sold , we are planning to start a joint venture with a builder. There will be a huge capital gain tax burden when we sell this property.
To avoid that we are planning to buy another small property with a house and remaining amount to invest in Government bonds.
But we came to know that maximum in ...
FORM XII
[See rule 15(3)]
Notice to a person who has failed to get himself enrolled or pay tax
To
Trade Name : GANPATI MOBILE
Legal Name : JYOTIPRASAD KANU
Address : 154 NAGAR CHANGRABANDHA CHANGRABANDHA CHANGRABANDHA,
PIN : 735301
Whereas I am satisfied that you are liable to payment of tax and enrolment under section 5(2) of
theWest Bengal State Tax on Professions, Trades, Callings a...
I had evised ITR for AY 2016- 17 voluntarily on observing some wrong figures in original ITR.
On 1-4-2019 notice us 148 was issued asking to revise the original return for assessment. It was conceyed in writing to AO, Srinagar hat ITR has been already revised on 8.10.2017 furnishing therewith the relevant documents like ITR V, form 16 ( under proper receipt) with the request to consuder the r...
Hello,
1. In FY 20-21, I provided technical consultancy to a couple of India based firms, gross receipts about 27L.
2. In addition, I conducted online classes to teach computer programming, gross receipt about 5 L.
3. I am thinking of availing the presumptive taxation under section 44ada for the technical consultancy business.
Questions:
1. Can I include the online classes also unde...
Dear Sir,/Madam,
My grandfather purchased a land in 1952 & build a two stored house in that property. My grand father expired in 1964 & my father became the legal owner. My father passed away in 1983 leaving behind my mother ,myself & my elder sister. My mother passed away in 2010.Now myself & my sister has signed an agreement for JV development with a builder in 2021, in which the developer w...
Dear Sir/Madam,
In FY 2020-21 I was doing business for CR /HR Sheet trading but due to covid 19 I have shut down my Trading Business and Turnover around 56 Lakh than I have sold two residential property of 40 Lakh and 35 Lakh with Capital Loss than started Share Trading and during Sept 20 to March 21 .
I have done share trading on delivery and intraday basis and total turnover for FY 2020...
Dear Sir/Mam,
Thank you for contacting CBIC Mitra Helpdesk. The reference number for this interaction is
Dear Sir,
I booked a 2BHK under construction flat in Patna (Bihar) on September 2018 with carpet area 850 sqft (Super built-up area 1060 sqft). As per government it is coming in affordable housing and As per government GST was for affordable housing is 8% in September 2018 but builder is...
Actually my question is related to "Code of ethics for chartered accountants" I was not able to find suitable category to post my question so I have posted it in Income Tax Category, So I am sorry about that, but please answer as the answer is of much more value to me
Question
* I am a 43 yrs men, my elder brother is 46, my mother expired in 2018 (3 yrs back), my father went missing in 1994 (...