M
Manu
I want to know, income from Capital accounts is taxable at what rate in case audit of firm is not happened?
Facebook
Twitter
Linkedin
Please elaborate your query. Are you talking about interest on Partner's capital account? Interest on Partner's Capital is business icnome and taxable on the basis of slab rate applicable to individual.
T&C applyS
Sarah Khan
I am an NRI person, I do have an NRI account in an Indian bank.
My question is that my mother is a retired govt teacher, she wants to transfer money in my NRI account for my marriage.
How can she transfer it without paying any tax?
And do i need to pay a tax for receiving that money ?
R
Raghuram Gotety
I have purchased house for 6,40,000 in 2011 and sold it for 18 lakhs on Sep 30th 2020. How much long term capital gain tax i have to pay and by when i have to pay. Please help.
Capital gain would be around 7.5 lakh. Tax on same would be at: 20%.
If you need any assistance or need phone consultation you can mail at canamanmaloo@gmail.com or if you need online tax assistance you can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
As information provided by you there is capital gain of Rs. 7.50 around and it is taxable @020% but you can save Tax by reinvesting the proceed . For more detail can contact us at 9216816819
T&C applyK
Kalindi Anjan
I m working with nationalize bank,can I cliaim tax benefit for employers contributions of nps under 80ccd
yes you can
CA Roomi Gupta 7 Dec 2020Yes you can claim deduction under 80CCD(1) for employer contribution under NPS. For More detail feel free to contact us .
CA Puja Sharma 9 Dec 2020Yes you can claim the deduction.
T&C applyG
Gaurav
Can one keep on investing (shares,mutual funds) with no selling and not file IT return. Income less than 5 lpa (agriculture income only).
yes
CA Roomi Gupta 7 Dec 2020Income exceed from Min exemption limit i.e. 250000 required to file ITR. For More detail feel free to contact us .
Yes one can invest in mutual funds without filing IT Return if the Gross Total Income do not increase Rs. 2,50,000 for a particular FY. You have mentioned income less than 5Lac pa. If that is business income after deducting all expenses then you are liable to file IT Return. For more information and IT consultation can call on +91 94615 28592
T&C apply
