ajay gupta
22 November 2010 at 12:10
I am in service with a private company in india and files my income-taxes regularily.One of my close relative wants Rs. 5 lakhs loan (with or without interest) from my salary account for investing in one of the real estate company's FD which might result him a better ROI.He wants me to transfer the loan money via cheque or netbanking transfer from my salary a/c to his company bank a/c through which he would make investment.He promise me to return the money within 15 days but in theform of cash only.
Since he is a very cose relative and hard to refuse from my part, please advise whether it is legal to do so in this way and there shall not be any tax implication on my side in future OR kindly suggest some suitable method for doing this. He is not a blood relative (wife maternal uncle. Money pay back in cash is guaranteed from him.
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Tax on income for freelancers working from home
Hi,
My wife earns money being a freelancer writer and works using home and internet.
I would like to request for suggestions/ideas on what all would be taxable in such cases, and what expenditures could be non-taxable. Also what all tax saving options are available in such cases for a women.
Any suggestions on a consultant for the same in Noida would be great too, along with rough idea on the consultation charges.
Please note we need somebody who could 'suggest' on making income non-taxable based on various rules for self employed freelancers and not just tax calculation.
We will use this information to pay tax and
later file returns.
Thanks for all the help!