LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Anonymous   07 April 2022 at 23:34

Claiming house rent exemption/rebate at the time of return

Respected Experts,

I have not claimed HRA exemption/rebate at the time of TDS from my salary in FY 2021-22. Can I claim HRA exemption/rebate at the time of filing IT return? My house rent per month is Rs.13500. I don't have rent agreement but I can show rent receipts and may pursue landlord to show his income from rent in his own IT return.


kunhi marakkar   04 April 2022 at 15:25

Income tax

I sold my deceased fathers property . my share is near to 28 lakh rupees. if I deposit this money altogether in a single bank account will any tax deduction come?

Anonymous   03 April 2022 at 02:33

Paying house rent to parent


Can I legally pay house rent to my father, who is a retired govt. servant, and claim tax exemption? The house is in my father's name and I plan to pay rent by online account transfer as a proof of payment.


abhimanyu   27 March 2022 at 08:00

Revised return only when original return verified

My cousin filed income tax return on 25th December, 2021 but it WAS NOT verified. Later on, a few mistakes were realized in that return and on 30th December, a revised return was filed by him and WAS VERIFIED IMMEDIATELY after filing. Thereafter, many messages were received to verify the return but since REVISED RETURN was already verified, no action has been taken by my cousin.
As the return has not yet been cleared, the following queries arise

a) Whether my cousin has to verify his original returm only then his revise return will be considered or there is no need to verify the original return as revised return has been filed and verified also.

b) Whether a revised return can be filed only after original return has been verified.

abhimanyu   18 March 2022 at 21:34

Circle tate more than pruchase price

One of my relatives proposes to purchase a residential property In Haryana on or before 31st March, 2022 the sale price of which is around 15% LESS THAN the CIRCLE RATE of that property . To put it differently, , the Sale Price of the residential property is appx. Rs. 20 lakh LESS THAN THE CIRCLE RATE OF THAT PROPERTY. KINDLY GUIDE TAKING INTO ACCOUNT EXISTING APPLICABLE LAW AND PROVISIONS OF INCOME TAX



Anonymous   01 March 2022 at 17:27

Import by agent behalf of principal

If a agent import behalf of principal (outside india), to do basic assembly work and supply to customer in India on behalf of principal. (Principal will raise invoice to customer in USD from outside india)
What will be the following impact
1. Custom duty who will pay also valuation of goods. (we can registor the bill of entry in customer name?)
2. agent will raise service charge to principal
3. GST impact to supply of goods to customer in india

Nishit Kantha   11 February 2022 at 13:39

Non submission of letter-of-intimation

My niece aged 27 yrs purchased a flat in Dec 2020, by securing loan from a private bank, of which she is also an employee. Every legal formality was fulfilled, except the Letter-of-intimation; partially it was unawareness that she too needs to submit, as she thought it was applicable only to Govt. employees, and if she was supposed to submit, she thought the financing bank would facilitate as all other legal documentation were carried out while granting the loan and partially because pandemic broke out soon thereafter and she was working from home, so she didn't clarify.

Now someone said she will have to pay the stamp duty once again and generate new challan etc, only then she can submit. My question to Honourable experts here:
1. Is this Rule (of mandatory submission of Letter-of-Intimation) on purchase of flat applicable to Private Sector employees as well?
2. If yes, since all payments including Govt. Duties, are done, can she not fulfil this requirement now, at best with some penalty but not needing to pay the entire Stamp Duty once again? what is the best redressal that can be sought for this oversight?

Punit   04 February 2022 at 13:37

Gst credit transfer from one state to another

Hello Experts ,
We have huge GST credit in other states so how to transfer it to home state under same pan no , as someone suggested to raise service invoice so need some advice on same .. Thanks

kamal   31 January 2022 at 16:52

Capital gain

In 2000 at Noida, a Commercial property was bought through an unregistered sale agreement, jointly in two names A & B and a Power of Attorney was executed and Registered at the same time jointly in names of C & D.
Today A & B wants the Power of Attorney C & D to register the sale in their name through a Transfer from the NOIDA authority.

Apparently, NOIDA authority has stopped transferring the Commercial property in joint names, in this case A & B. NOIDA's recently started a policy to transfer commercial property only to single person, partnership or LLP or a Pvt Ltd Company.

If one has no alternate but to register a transfer/conveyance deed by creating a PARTNERSHIP FIRM of A & B ?

My Question is if any Capital Gain issue would arise out of this registration of Transfer/Conveyance deed to a partnership firm of A & B.

Is there anyway one can resolve this ?
Thanks for your time in advance.

Anonymous   26 January 2022 at 00:56

Income tax deduction

Dear Expert,

I am moving to Bangalore from my home town and looking for a 2BHK accommodation.
Renting out a 2 BHK would cost me 22k per month, while leasing the apartment would cost 8 to 10 lakhs.

My father has suggested to take it on lease and he will fund it. With this I will not be able to take any HRA deduction, since I am not paying rent.
Can I create a rental agreement with my dad and make rental payment and take claim HRA deduction?

If so, how should I report this income in my Father's ITR.

Thank you..

Post a Suggestion for LCI Team
Post a Legal Query