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Question & Answer


D

Deepak Singh

23 May 2019

Hello I'm living in Russia but originally I'm from Uttar Pradesh. I have some friends from Israel who wants to fund me and we both wanted to open a company for selling gold in India from Africa so I need help if someone can help me to make documents

Replies (3)                          

CA Brigit Peter       24 May 2019

Yes, for incorporation of the company and consultation you can reach me at 8447557316 or you can email me at brigitpeterca@gmail.com

CA Vaibhav Mago       24 May 2019

Well, Mr Deepak incorporating a company in itself need a lot of assistance and looking at your business model, you would be in the business of Import Export.
For more clarifications 9877542172
vmassociates2017@yahoo.com

CA Damini Agarwal       25 May 2019

Hi Deepak,

Please feel free to connect on 8707297344 for international tax advisory and import export regulations.

T&C apply


S

Sanju

23 May 2019

We had land have given to builder for development and we will get some flats so how to overcome that tax amount

Replies (1)                          

CA Naman Maloo       24 May 2019

You need to calculate capital gain tax and see if you are eligible for any exemption.
If you need any further consultation you can mail me at canamanmaloo@gmail.com

T&C apply


S

Sananda Chatterjee

23 May 2019

I have worked in an IT Software company for around 7.5 years, out of which the first 2 years was as a Consultant Trainee. I was in company's payroll from day 1 and TDS used to get deducted. Am i eligible to get gratuity for these 2 years?

Replies (3)                          

CA Naman Maloo       23 May 2019

It is not necessary that if TDS was deducted gratuity will be awarded it depends on your contract and as you are saying you were a trainee I doubt you would get gratuity for it.
If you need any further assistance you can mail me at canamanmaloo@gmail.com

CA Brigit Peter       24 May 2019

As per my opinion you are eligible to get the gratuity as you have already spent five years in the company as an employee and not as a trainee. For further clarification/consultation you can reach me at 8447557316 or email me at brigitpeterca@gmail.com

CA Vaibhav Mago       24 May 2019

Sananda ji, just look at your pay slips of first two years. Whether PF, ESI were deducted? If yes, then you would be eligible for Gratuity because you would be treated as employee. Also have a look at your appointment letter in which it would be mentioned various benefits you would be eligible.
9877542172
vmassociates2017@yahoo.com

T&C apply


S

Sunny Verma

22 May 2019

The property is divided into three portions , one portion is of My wife and his brother, this portion they got after the death of her mother around 5 years back , her mother get this property from her mother in law many years back .

Now the property was sold last year and sell money were devided in to three owners .

To sell the portion alloted to my wife and his brother, My wife gave power of attorney to his brother to sell and use the money recive, however the money received(1/3 of total property sell amount) to my wife and his brother in equal amount in there respective bank accounts , my wife transfered that amount to his brother's bank account as she dont want any money from this property(she already gave power of attorney to his brother to sell and use the money received) .HIs brother purchased a new house from this money.

Now i want to know is there any capital gain tax need to pay by my wife and if yest how to calculate the tax amount.
Value of house in 2001 was Rs.34,33,000 and sold in 2018 for RS.99,00,000,

Replies (6)                          

CA Urvi Gandhi       22 May 2019

Around 20k per person. If you need further clarification/details, please reach me on 9967694668 or urvi@fintaxconsulting.in

CA Shrinidhi Rao       22 May 2019

Rs 19940 each. You can reduce your tax burden to zero by making proper tax planning.

CA Naman Maloo       22 May 2019

It is around 20k per person but you can plan it.

Sunny verma    24 May 2019

The property is divided into three portions , one portion is of My wife and his brother, this portion they got after the death of her mother around 5 years back , her mother get this property from her mother in law many years back .

Now the property was sold last year and sell money were devided in to three owners .

To sell the portion alloted to my wife and his brother, My wife gave power of attorney to his brother to sell and use the money recive, however the money received(1/3 of total property sell amount) to my wife and his brother in equal amount in there respective bank accounts , my wife transfered that amount to his brother's bank account as she dont want any money from this property(she already gave power of attorney to his brother to sell and use the money received) .HIs brother purchased a new house from this money.

Now i want to know is there any capital gain tax need to pay by my wife and if yest how to calculate the tax amount.
Value of house in 2001 was Rs.34,33,000 and sold in 2018 for RS.99,00,000,

CA Brigit Peter       24 May 2019

The value of your property as per Income tax in year 2018 is Rs. 96,12,400 and the total capital gain arises on the sale of your property comes to Rs. 2,87,000. If divided in 3 parts then each part of taxable capital gains comes to Rs. 95,600 approx. In case any further clarifications required then please reach me at 8447557316 or email me at brigitpeterca@gmail.com

Sunny verma    24 May 2019

one person need to pay 20% of Rs.95,600?

T&C apply


A

Aishwary Pandey

22 May 2019

My wife, who is doing research in the USA, sent me $24000 last month,
Do I have to pay any taxes on it?

Replies (5)                          

CA Vaibhav Mago       22 May 2019

No, there would be no tax implications in India as you can show them as gift from your wife.

CA Naman Maloo       22 May 2019

its gift so no tax

Aishwary Pandey    22 May 2019

Sir how can i show this as gift?
Is there any documents needed?

CA Naman Maloo       22 May 2019

Yes technically you need a gift deed but it's never required in case of gift from relatives.
For more assistance you can mail at canamanmaloo@gmail.com

CA Brigit Peter       24 May 2019

Not taxes if funds are transferred from close relatives.

T&C apply