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Antara Biswas
Hi .. I have a property in my father's name, which i want to sell in 3 years to buy a new property . How can i avail maximum tax benefit from long term capital gain ? Do i need to include the name of my father in the agreement of new property to avail these tax benefits , considering that i will sell the property after 3 years?
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Hi, kindly book an appointment for consultancy at +91-9911744028
CA Rahul Dwivedi 19 May 2021Prima facie it looks that you can save the entire capital gain Tax. However will complete details like PP,SP, Year of Purchase etc. etc
You can reach me ca.rahuldwivedi@gmail.com or 9004485377 for detailed discussion.
S
Smart Edu
Hello Team,
Need few inputs on below queries:
1. I have purchased a domain 2 years back for online store. No physical set up/equipment. It was totally online. Till now, there is no selling done(due to pandamic also). I have not filled any ITR as there was no income.
Now, I wanted to register in MSME.
Question is --> what should be entered under "WDV (Written Down Value)" and "Turnover" ?
Is it fine if entered the value as 0(zero) in both field?
Thanks!
Stay safe all !!
Hi, need to understand your query. Kindly contact at +91-9911744028
CA Rahul Dwivedi 19 May 2021Turnover represent sales value however in your case you are talking about purchase price. In your case Turnover should be NIL. For correct understanding & disclosure you can contact 9004485377
SmartEdu 21 May 2021Thanks for response.
What should be WDV in my case?
Both would be Nil as it would fetch the same from ITR and since no ITR filed it will be Nil
SmartEdu 25 May 2021Thanks for clarification
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Vivek
I submitted ITR for AY 2020-21 last year and its current status is successfully e-verified. I now realise that i claimed one tax exemption against incorrect article#, so need to correct it. Can i now submit revised version of that ITR?
Yes you can revise your ITR. For more assistance please contact at +91-9650511176
CA Rahul Dwivedi 19 May 2021Yes it can be revised upto 31st May 2021. If you require any assistance you can write to ca.rahuldwivedi@gmail.com or contact 9004485377
CA Mehul Aggarwal 19 May 2021You have the option to revise your ITR. However, the needful is to be done before 31st May, 2021. If you need assistance with the same, you may contact us at 9811 89 6771 or mail at camehulagg (at) gmail (dot) com
CA Naman Maloo 23 May 2021Yes as of recent updates you can revise that return till 31.05.21.
To read more click here: https://www.taxontips.com/cbdt-extends-due-date-for-filing-belated-and-revised-return-for-ay-2020-21-till-31-05-2021/
J
Jalaj Singh
Want to know jurisdiction Ao code for applying new pan?
You can get it from TIN NSDL website. Shairing link for your reference. https://www.tin-nsdl.com/services/pan/pan-aocode.html
For any assistance get in touch with ca.rahuldwivedi@gmail.com or 9004485377
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Akash
My parents and I are living in a rented house. I am a salaried person having salary around 15 L . While declaring HRA , can i declare 20K per month as HRA and give pan card as a proof of my father. Pls note: i cannot give the pan card of the owner as a proof.
You can pay rent to your father and claim HRA benefit however certain thing to be remember in this regards :-
1) Since rent is paid to owners, the property must be owned by your parents.
2) Transfer the rent to his bank account or pay via a cheque and this way you can claim HRA deduction properly.
3) Rent paid by you to your father shall be taxable for him.
4) Usually employer ask for rent agreement so you can enter simple rent agreement with your father. Also arrange for Rent receipt.
If you are able to prove above basic condition you can claim HRA for rent paid to your father and you will be position to prove the same in case of assessment or any query raised by department.
Thanks Rahul for your input. My father does not own the property, we stay in a rented house. Now in this scenario, can I claim HRA for rent paid and show my father's pan card as a proof ?
CA Rahul Dwivedi 18 May 2021As a professional i does't recommend/suggest any practice which is not as per rules or for which we don't have proper documents or documents can't be created.
If you are paying rent then you should give PAN no. of your landlord and definitely you will have genuine Rent agreement. Your landlord can't denay that.
It's my personal view others may differ.
thanks a ton Rahul !! Appreciate it
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