G
Gurudas Natu
Friend gives me money to invest
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We can arrange finance for your. Reach us on : M/s H R Consultants, 079-22160685. Reach us on http://harshrathiandco.com/hrconsultants.htm
If loan than not taxable in your hand.
but you have to follow IT act Rules
For futher Details you contact on 9708549709
A
Ankit
My parents are retired and currently they are not earning from quite few years. They are planning to sale the owned property from which they will going to earn around 52 lac through which 5 lac they need to pay loan to bank. Rest 47 lac they need to invest in FD so that they will get monthly income...need to know the tax need to pay on sale of property and income tax every year to pay yearly with earning through fd on monthly basis.. also if any other deduction ...my mother is senior citizen...and do they get fixed monthly income..pls share the details.
if the property is being sold after 3 years from the date of purchase, then long term capital gain would come, which is currently being taxed at 20% with indexation benefits.
Towards Interest received from FD, currently 50000 is exempt income and for senior citizen tax slab exemption of 300000 is there.
For calcuation of tax on sale of property we need following details: a. Date of purchase of property b. Amount of purchase of property c. Expected date & amount of sale of property.
Email us details on: harshrathiandco@gmail.com
Z
Zack Soniar
Hi,
I had booked a flat in Nov-Dec 2015 in Nagpur, Maharashtra. I have paid 25% amount but NO REGISTRATION OR AGREEMENT IS DONE SO FAR. Only allotment letter is given to me.
Now in 2018, due to delay in project, I am cancelling the flat. Builder is saying that as per service tax rule Section 66B, he has paid service tax to government and he will deduct that amount from booking amount.
My CA is saying as there is no agreement done so as per Section Section 65B (44), no question of service tax arise here. So builder should refund all money.
My questions are:
1. As no registration/agreement is done so far, does Service Tax apply on booking amount?
2. As per Section 65B (44), Service doesn't include :
(44) “service” means any activity carried out by a person for another for consideration, and includes a declared service, but shall not include-
(a) an activity which constitutes merely,–
(i) a transfer of title in goods or immovable property, by way of sale, gift or in any other manner; or
(ii) such transfer, delivery or supply of any goods which is deemed to be a sale within the meaning of clause (29A) of Article 366 of the Constitution; or
(iii) a transaction in money or actionable claim;
(b) a provision of service by an employee to the employer in the course of or in relation to his employment;
(c) fees taken in any Court or tribunal established under any law for the time being in force.
Since here allotment is actionable claim, transfer of title only and its only money transfer. Would service tax be applicable here.
Builder is not providing any proof for service tax paid and claiming its done through input tax credit.
Please advice.
Thanks.
01.yes Service Tax apply there on.
02. If builder is not paid service tax there on then it is punishable as per Amount involved.
You can email us your queries on harshrathiandco@gmail.com. We shall be charging professional fees for solving your query please note.
T&C applyU
Uday Parmar
All types of buisness explain cash limit ?
Section 40A(3) of the Income Tax Act pertains to cash transaction limit for expenditure made in cash. Under Section 40A(3), if payment for any expenditure of over Rs.10,000 is made in cash, then the expenditure will be disallowed under the Income Tax Act.
Hence, its important for all taxpayers to make any payment for expense over Rs.10,000 through banking channels like debit card, account transfer, cheque or demand draft.
10,000
CA Harsh Rathi 19 Dec 2018200000
T&C applyU
Uday Parmar
Cash payment limit per day for transport ?
cash limit explain of gst according
Cash payment upto 35000 to transport contractor is allowed
CA Abhishek jha 17 Dec 201835,000/-
CA Harsh Rathi 19 Dec 201810000
