Dear Sirs, Good Evening. Request to pls do guide : which amounts I can give as gift to my wife ( house wife),daughter (student),Son (student) per year ( in cash or in shape of Bank FD).Thanks in Advance, Surjeet Singh
If an NRI invests in equity based mutual fund and stay invested for more than one year will he be liable to pay 1. Capital Gains Tax on redemption? 2. Tax on dividend if he chooses to invest in div payout schemes such as MIP?
If a resident indian visits germany on official assignment for a period of 3 months. The salary received in Germany is taxed there. The balance remittance made to india. Whether this income is taxable in India
My company overpaid Rs. 160000 to me during the FY 2015-16. The said amount was recovered in the current FY. Can I now reduce that amount from my gross salary this year or is there another procedure to adjust the recovery. I have already paid tax in 2015-16 for the said amount.
I propose to gift a sum of Rs 20,00,000/- (Rupees twenty lakh) to my wife in the Financial Year 2107-2018. She will invest this money in a FD in her exclusive bank account where I am not a joint account holder. My wife is filing her own Income Tax Return even though she is not working and earning.Her source of income is gifts only.Please clarify the following:- 1. Will her earnings on the gift amount be charged to me for income tax . 2. If I will be charged for the income she earns on the gift,will it be charged to me for income tax for Financial Year 2017-2018 only or for all times to come.
Hi-I took Ford Car under lease rental Option @10900/-PM. I have paid 3 year lease (means total amount of Rs.3.92 Lacs) and this option eligible for tax benefit. After 3 years, the company offered me a price of Rs.4.05 Lac and I opted for that. They also deducted Rs.50K as Perks.Tax and the car was owned by me. I later sold the car for Rs.5.40 Lacs. So please advise me how much Tax is payable/refundable to me in this
I want to withdraw my PF- just want to know whether do I need to pay tax. Summary last Organization worked for 3.5 years ( Oct 2012 to Aug 2015). After Aug 2015 I am working outside india and no income from india. Pls advice
My “in laws” have gifted a fixed deposit to my minor daughter. The FD is made in the name of “Suhani Gupta u/g Parmod Gupta ( Suhani is my daughter – age 12 years and Parmod is my mother in law ) . The interest is cumulative receivable on maturity in the year 2023.
Now the query is – Annual Interest due from this FD should be shown annually in the income tax return of parents – throughout the tenure of FD ( based on the concept of Accrual basis ) OR it can be shown in the income tax return of Suhani Gupta in the year 2023 when the entire interest is received and she will be above 18 years ( based on the concept of Cash basis ) ……!!!!!!
There are many tax-saving instruments under section 80C, can you tell me out of these which investments offer the best return, also, will it be beneficial to invest in purchasing a house or should I invest in shares?
My “in laws” have gifted a fixed deposit to my minor daughter. The fixed deposit is made in the name of “Suhani Gupta u/g Parmod Gupta ( Suhani is my daughter – age 12 years and Parmod is my mother in law ) The source of the funds are retiral benefits of my father in law.
Now the query is – Annual Interest income generated from this fixed deposit will be added to whose income ( parents income , father in law’s income or mother in law’s income ) plz be aware that parents have neither funded this FD nor drawing any benefit out of it.
I have recently joined a job with a package of 4.2 lacs pa. I need to know how much tax will be deducted from my salary and what are the ways I can save my tax? I would like to invest at an early stage so that I get both tax saving and returns.
I earn a salary of Rs. 6,60,000 and I also earn a bonus each year based on performance up to 10% of my salary. I recently faced a very heavy TDS cut in my salary since my tax declarations and actual investment proofs didn’t match as explained by accounts department. Can You please help me with the calculations of TDS.
I have plans to invest for tax savings. I need to understand which option is better? I need good returns which are available from PPF but I am even interested in making ELSS mutual fund investments since they provide less of lock in period. Please suggest.
A few of my friends told me that you guys do tax planning for your customers. If I want to do it myself, what all I need to know/learn? If you guys can do it for me? What are the charges? and what all services are covered?
My CA is saving a lot of my taxes, How come you guys are not able to save that much?
I have less trust in my CA, however more benefit if I get my taxes filed by him.
On the other hand, more trust on you guys, but less tax savings!