If one person purchased Flat taking home loan. but his parents living in his flat. he is living in rented flat.

so in this, he did not get any rental income.

can he eligible to avail HRA exemption and housing loan interest

Hi All, wanted to know provisions applicable (Income tax as well GST) if a person work in a company as consultant rather than employees. Some of the key points :

a) Whether its clubbed under B&P head. What expenes can be claimed and rate applicable on net income (whether slab rate or flat rate)
b) TDS related fule
c) Presumptive tax rate if income is less than limite (i.e. Rs 75 Lacs). Whether slab rate or flat rate
d) GST related rules

Hi,

I want to create a HUF. I understand that the name of HUF is usually Karta name + HUF. Is it possible to give a different name other than karta name for HUF ? For eg. let us say karta is Ravi Kumar and typically HUF name will be 'Ravi Kumar HUF'. Instead of 'Ravi Kumar HUF' I want to assign the name of HUF as 'Cool Family HUF'. Is it allowed ? The reason is to protect the identity of the karta.

Thanks
Suresh

Dear Sir,

I had one Flat(i.e. at virar) on Joint name 1st my name and 2nd father name, now i want to transfer this flat on my brother name with out any consideration.
Please guide quires as follows:
1) Any Tax need to pay on the same of property ( even i have not taken any money)
2) whether any stamp duty need to pay on this type of property Transfer to blood relation person.
3) which type of agreement need to made for the same type property transfer.

Thanks

hello, i m Firoz from Bhopal. The Income Tax AO is treating the Grant in Aid as Income and the deduction of Producer Company u/s. 80PA is also not allowed by the Ld AO. Can you guys please help me with this by providing relevant citations / decisions given by IT tribunal/Courts of India.

hello sir,
my query is I am working in a school trust recently my school purchase fixed assets of valuation more than 500000 through tender process. After completion of process the contract is given to the lowest bidder and the assets where purchase. Shall we deduct TDS on payment for the purchase.

NO SALARY RECEIVED IN TWO+ YEARS AND AFTER THAT RECEIVED THESE SALARY IN ARREARS BUT DIRECT TRANSFER TO PF. HOW THIS INCOME IS CALCULATED IN ARREARS AS ALL THE SALARY MOVED TO PF.WHAT IS HIS TAXABLE SALARY FOR PREVIOUS YEARS.
EX. A RECEIVED SALARY FOR FY 23-24 TAXABLE INCOME 400000, HE HAS NO SALARY FOR 21-22,22-23 WHICH WITH RECEIVED 1200000 IN 23-24 AND DEPOSITED IN PF. HOW IS THIS CALCULATED FOR ARREARS AND TAX.

WHETHER WE CAN OPT FOR 115BAC WHILE FILING UPDATED RETURN FOR AN ALREADY FILED ORGINAL RETURN UNDER 115BAC WITHIN DUE DATE.

I have paid TDS in Feb 2024, but I have excess paid under section 195. So the excess paid amount I can adjust those amount in next month TDS payment.

Sec 195 amount I can adjust with other section?

A property (House property) that is owned by a proprietor firm. The proprietor wants to sell it. now the question is how can capital exemption be claimed by the proprietor.