What should I opt Old Regime vs New Regime
What should I opt Old Regime vs New Regime
My current package has 28lakh fixed amount. I have a home loan of around 83 lakhs for 30 years. Can you please suggest which should be better for me old regime or new regime?
1 week ago
A. Dear Client,
To ensure you make an informed decision that best protects your interests in this matter, it's advisable to seek guidance from a Chartered Accountant (CA) or an Income Tax Practitioner. They possess the expertise and knowledge of tax laws and regulations and can provide you with proper guidance and advice.
Exemption on interest education loan
I'm taking Higher education loan for aboard and my brother pay the Emi .. So. He claim in there income tax or not ..
2 weeks ago
A. Dear client, once you avail of an education loan, the interest paid (which is a component of your EMI) on the education loan is allowed as a deduction under Section 80E of the Income Tax Act, 1961. This deduction is available for a maximum of 8 years or till the interest is repaid, whichever is earlier.
CLARIFICATION ON OFF MARKET
i purchase shares from a demat account and transfer the same to another demat account of mine. if i sell shares from the 2nd dp what will be considered the purchase date (original purchase from the fi
1 month ago
A. Dear Client,
You might want to consult with a specialized professional who handles the buying and selling of shares to receive sound legal advice.
Double taxation agreements
there is a company in canada giving loan to an indian company and that indian company is providing interest on that loan, the interest is transferred to USA bank account of the canandian company. what
5 months ago
A. Dear Sir,
You may contact the International Advocates who have knowledge of International transactions more particularly loan transactions.
TDS Certificate for Accounting Year 2021-2022 for HDFC Mutual Fund Folio Number 18026369 and 42
We regret to inform you that I did not received TDS Certificate for Accounting Year 2021-2022 for HDFC Mutual Fund Folio Number 18026369 / 42. As a result I had received a Demand Notice from Income Ta
6 months ago
A. Dear Sir,
You may get issue a strong legal notice threatening to approach Consumer forum for such lapse on the part of bankers.
I was running a micro business
I was running a micro business till March 31 2022. My returns for have been filed for that period. I have closed my business effective 1/4/2022. In the balance sheet of 31/3/2022, there is some assets
8 months ago
A. Dear Client,
Since you've closed your micro business as of 1/4/2022, the assets and stocks still showing in the balance sheet as of 31/3/2022 might need to be accounted for. If you have sold or disposed of any business assets during the closure of your business, there could be potential capital gains or losses that need to be considered. If you are regularly filing income tax returns then must file income tax returns showing taxable income as zero. Capital gains can have tax implications, so it' ...ReadMore
Advice re ITO Notice
Dear Sir During FY 2017-18, I used to withdraw bank FDRs (instead of auto renew) opened in earlier FY and then open fresh FDRs. In between, there were few to & fro transfers between my & my mother ac
8 months ago
A. Dear Sir,
The question involves financial matter and also relating to tax matters. Better contact any auditor or chartered accountant.
Itr 2
I have a overall loss of 2000 I n delivery stock trading. I don't want to carry forward the loss. Do I need to file itr 2
8 months ago
A. Dear client,
Losses sustained in the stock market can be leveraged to reduce your tax liability. Income Tax Act differentiates stock market transactions as "Capital Gains" or "Business Income" depending on various factors. Capital gains are further classified into long-term or short-term depending on the period of holding of shares. A long-term capital loss can be offset only against long-term capital gains. Whereas a short-term capital loss can be adjusted against both short-term and long-term ...ReadMore
Sign on Bonus returned to Employer in same Financial Year in IT Returns
Hi, I was given a joining bonus of approx 2 lacs when I joined a new company 2 months back. Now I am quitting this job for another one and have been asked to return the amount in full back to the empl
8 months ago
A. Dear Sir
Please approach the following authority or similar authority in a state
The Office Commissioner of Labour
Section 12 in The Industrial Disputes Act, 1947
12. Duties of conciliation officers.- (relevant section 12(2) of ID Act)
(1) Where any industrial dispute exists or is apprehended, the conciliation officer may, or where the dispute relates to a public utility service and a notice under section 22 has been given, shall hold conciliation proceedings in the prescribed manner.
(2) Th ...ReadMore
Unfreezing savings account in Bank
Now that the IT tribunal has ruled in my favour, how do I unfreeze my savings account that was frozen after issuing a show cause notice to me by the IT AO?
9 months ago
A. Dear client,
We would advise you to produce the judgement from the IT Tribunal with a request for unfreezing your account
