T.N.REDDY
01 October 2023 at 13:16
Sir, In taxing statues like GST and Income Tax, if I miss to plead one valuable ground in the lower appeals, can plead that ground as an additional ground in the higher appeals, I mean I would like to bring new ground which was not at all pleaded in the lower ground that helps me a case in my favour.
Anonymous
16 September 2023 at 20:38
My PhD registration number is not found
Camille Demarta
30 August 2023 at 12:14
KENSTAR CYBER SERVICES is truly a reliable and top-notch credit repair company. I was skeptical when I learnt that my credit score of 552 can be improved to 750s across all credit bureaus and also derogatory marks and negatives can be permanently deleted from my credit profile. To my greatest astonishment, On checking my updated credit report on credit karma; my scores are now EQ: 752 TR: 758 EX: 761 and records of chapter 11 bankruptcy, late payments, collections and hard inquiries have been deleted from my credit profile. Big thank you to KENSTARCYBERSERVICES@GMAIL.COM
YATIN
26 August 2023 at 12:46
I am getting long term capital gain (LTCG) on sale of my residential flat. I would be investing this LTCG to purchase new flat in under construction scheme of a developer. Being a high rise tower the registered sale deed/possession for new flat will happen after three & half years. However I will make full payment for this new flat within six months of sale of my old flat. To get exemption of LTCG tax u/s 54 Income Tax act, I have to purchase another residence within two years. In my case wherein I will be making full payment for new flat within 6 months, but possession will be given after three & half years. Would my making full payment to developer in 6 months be considered as purchase & will I get exemption of cap gains tax u/s 54 even if possession will be after 42 months? I request to have notifications/case laws to support my claim since scrutiny is faceless now.
RAJESH CHOPRA
15 August 2023 at 18:58
Dear Sir
My son after completing his studies has recently started working in USA and is taxed as per US laws. He needs money to purchase certain assets in USA for his needs. Can I as a father Gift him and remit USD 50,000 from my resident account in India as a normal foreign currency remittance. Will there be any tax implications for me or for him as per law. Also what is the limit that I can remit money as a Gift to him
Thanks
Anonymous
09 August 2023 at 04:17
What is
the stamp duty for retirement deed w.r.t. partnership in haryana?
There are 4 partners in a partnership firm. 1 of them wants to retire and 3 of them wants to continue in a firm. Should a separate retirement deed and a separate partnership deed be executed or should a retirement cum continuation deed be executed?
Prathik
25 July 2023 at 11:03
Hi Team,
In 2017 - My Father paid the amount and got the property(2400 sq ft plot) registered in my Mother’s name alone. My mother is the sole owner as per sale deed. We wanted to build a house on that plot. Since my mother had no source of income, bank made me co-applicant and I along with my mother took home loan. Later on I being co-applicant paid EMIs and claimed home loan interest and even deduction in 80c for home loan principal while filing tax returns. In 2021 - My father expired. In 2022 We took top-up loan jointly in the name of me, my mother and my brother(for taking tax deduction for home loan interest and principal) and constructed 1st floor and it is self occupied. Construction is complete and we have occupied the building same year.
Bank manager told if my mother is not claiming home loan interest and 80c deduction then I being co-applicant can claim. So I claimed and never got any notice/enquiry from Income tax department. I think Income tax will check via cibil if a person is having any home loan or not. That’s why they might have not asked for further clarification.
This year I got to know that only if we are the co-owner then we can take deduction for home loan interest and under 80c for home loan principal.
I want to know how can I add my name and my brother’s name to the co-owners list along with my mother which can be accepted by Income tax of India in case of query.
If we execute via gift deed - we end up paying 3-4% of property value via registration and stamp duty charges. Also in future if we rent out this property. We need to show rental income as well.
If we can make non-registered legal agreement with the help of notary involving my mother, brother and me stating “my mom is not claiming any deduction and we are the legal heirs. So my brother and I wish to claim equal home loan related deductions”. Provide a copy of this agreement to bank and take deduction while filing IT return. If we get any notice - will it stand as a proof. Can income tax officials accept this?
Since the property is mortgaged with the bank. In the Encumbrance Certificate (EC) - if I apply and get for EC till today - we see my name, my mother’s name and my brother’s name under owner and it is pledged with bank. Can it be shown as proof of ownership to income tax officials?
D ROY
16 July 2023 at 23:38
My mother aged more than 80 years is receiving monthly state allowance from Govt. of West Bengal , as a widow of Freedom Fighter (under SSS pension scheme). She has no other income except interest and central freedom fighter pension (SSS pension scheme). Whether monthly state allowance from WEST BENGAL GOVT. is taxable or not. If tax rebate is applicable , then mention please "Under Section".
Member Strength 9,46,031 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Regarding treatment of sft 05
Sir, I have an joint savings account in SBI with my wife where I am the primary holder. We have jointly hold some Fixed deposit. In 3 nos. FD's my wife is primary holder and it is made after premature of her old FD's the premature amount transferred in our joint savings account which she was made since last 11 years ago. Now she made Rs. 11 lac jointly fresh FD's from this amount where she is primary holder. I am also made like same as my wife for Rs. 5lac.
Bank report through form 61A in SFT 05 of AIS 15 lac in each of our AIS. Whether it is right or wrong. What is the treatment in ITR may taken by me.
Please give me the valuable advice and help.
Regards
A. K. Mukherjee