I transferred a society flat,acquired in 2009 in Gurugram Haryana for Rs 55 Lakh to my NRI son in 2015 under blood relation transfer scheme where in no stamp duty is chargeed on transfer of property among blood relations.I have following querries-
1 What will be buying price at the hands of my son?
2 Since my son is abroad and in corona times travelling is not safe,if I have power of attorney from him to sell the house,my understanding is one can not transfer ownership on POA sale in which case I will not get a buyer.Any solution to this problem.
3 As and when the flat is sold,is he entitled to invest under sec54 (infra bond) to save tax?
4 In the alternative,can he buy a flat from her mother to save CG tax
Thanks
S C Goswami

Hi,
One of my client (Individual) had invested in the NCDs of Dewan Housing finance. However post their default, client has not received even the principle on maturity. Is there any benefit in Income tax that they can get against this loss? what are the relevant regulations?
Thanks,
Rohan

HI,

IN MY COMPANY TDS CHALLAN 281 PAID FOR THE F.Y. 2017-18 , AND SAME UTILISED PARTIALY AND BALANCE AMOUNT USED IN NEXT FINANCIAL YEAR 2018-19, BUT TAX DEPARTMENT DOES NOT ALLOWED THAT SO, CAN YOU PLZ ADVICE ME , HOW TO REFUND THAT PARTIAL AMOUNT OF TDS IF THERE IS NO ADJUSTMENT AVAILABLE IN THAT PARTICULAR YEAR.

A client withdraws cash from his credit card and deposits this in his savings account. Uses this amount to meet personal expenses and also credit cards payments.

How to report this transaction in income tax returns? Will the deposit in savings account be taxed?

Dear All,

Our office closed on March 25th due to COVID 9 pandemic and reopened on 20th May 2020. We have received an invoice on security service which is dated 01/04/2020 (expense for Mar'2020). Usually we are deducting TDS @ 2% under sec 194 C . My query is, new TDS rates which came to effect on 14th May 2020 is applicable on this case?.

Whether we have to deduct 2% or 1.5% ? New rates applicable on the basis of invoice date or invoice received date?

Kindly advise.

Thanks in advance

I got operated in a hospital and medical bill was Rs.75000/-. From National Insurance Rs.40,000/- was
reimbursed. I want to know whether I may get exemption for the rest amount i.e.
75000 - 40000= 35,000/-

Please advise.
pbguha@yahoo.com

Sir,

I earned last year profit from future and options F&O trading (stock market) around 4L and its F&O sales around 15L. Which ITR no. is to be filed.

Is it a business income. Then what is the business code for F&O income.

I tried to fill online return. Which column belongs to F&O income, E1 or E9 or E10, as i also paid GST on transactions of F&O. But i dont have GST Number.

Please guide.

Regards,

Anju

We are a trading firm, we have multiple transporters about 8-10 whose individual freights are under 30000.00 but the total amount of freight during the year is more than 1,00,000.00 annually. So is the TDS applicable on freight and on what amount?

Any expert opinion?

I have done f&o trading from my grandfathers money and i have no income and have lost 8 lakh in f&o trading my turnover is less than 1 crore so should i require to present my loss as i have no income

What is SAC code used in GST registration for Game of Skills or E sports ?