23 March 2019 at 15:57

Change of karta

My father had a HUF file. He had given loan to someone and interest from loan was the only income. Due to his demise we are facing problem regarding name change and all. On what name should the loan be received back? Should we change the karta name or dissolve it? What are the tax implications in case I receive the loan in my personal account?

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13 March 2019 at 17:46


I am a resident senior citizen tax payer. I do invest in ELSS MF(Growth option) each financial year to save tax under section 80C of Income tax Act.
I had invested as usual in some ELSS schemes in March 2016 which I intend to redeem now after completion of 3-year lock in period. Since introduction of LTCG tax by the central budget 2018, this the first time I will sell ELSS units.
As such I am in need of some clarifications on calculation of LTCG from experts.
The following example will be helpful for me.
I had purchased 1690.846 units of a particular ELSS on 09.03.2016 at a price of Rs.29.57/unit. The total investment was Rs.50,000/-
NAV of these unit on 31.01.2018 was Rs.44.8938/unit
My sale price on 12.03.2019 is Rs.46.253/unit
Appreciation in value since 31.01.2018=(46.253-44.8938)=Rs.1.3592/unit
Hence total gain= 1.3592*1690.846=Rs.2298
Since, LTCG upto Rs.100000/- is tax free in a financial year, I am not required to pay any tax for this gain.
Am I correct?
Kindly, give me expert opinion.

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Dear sir,

Please advise, TDS is applicable for subletting charges paying to MIDC and under which section.


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Hi All,
I am working with an Co. and here I have to file TDS return for Q3. But the person who has done payment has Mistakenly mention wrong AY in the challan which is showing now Unmatch. Ideally the AY has to be 2019-20 but instead it has put 1961-62. Since he year gap in huge. I was unable to do online. I visited the Income Tax Officer..From there I got to know that I have submit Total 3 document 1. application Letter for Rectification which...2. INR 500/- Indemnity Bond 3. NOC from Client....these all in one PDF File less than 2MB.....I have to give them these all documents in Pen Drive......Can Anybody help me with the Format of NOC and Indemnity letter format. I tried to find out online but failed.

It will be great help!!1 Thanks!

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Hey everyone,

I applied for TAN and i got my TAN number on my email as well as a pdf file attachment. But file attachment is required six digit password to open.

So what should be the password and which six digit i have enter to open that file.


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Can we get some clarity for the following case?

A piece of land 4800 Sqft was given under an unregistered Joint Development Agreement in 2016.

The developer paid Rs 10 Lakhs at the time of signing JDA and the construction activity is going on by the developer himself.

The land owner and builder will get 50% of the built up area ( roughly 4500 Sqft) in the form of constructed flats along with same share of the land.

The flats will be ready in June 2019 - 50% and in June 2020 balance 50%.

The present land cost is Rs 7500/- per Sq Ft and constructed flat cost is @ 5000 per sq Ft.

When does the owner have to pay capital ganis tax and how much?


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My company credited my TDS into the wrong PAN 11 yrs ago and now in the 26 AS form in TRACES the amt is not being reflected.The Govt has levied me more the 200 % as penalty.What is my recourse.

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05 February 2019 at 11:06

Section 4 of pt act

Can someone please send the link of Sec-4 Employers liability to deduct and pay tax an behalf of employees of from any reliable sources and most preferably Government Website The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975. i am unable to find it in MahaGST site

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29 January 2019 at 11:08

Tds on debit note

we are contract with company with material but company pay directly material vendor and same amount debit to contractor on debit note can i deduct tds on debit note

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22 January 2019 at 13:26

Tds on vehicle repair & maintenance

Kindly guide me whether TDS is Applicable by quoting applicable provision.

if vehicle service total amount is Rs. 70000/- ( 25000 for Labour Part + 45000 for material Part )

whether TDS is to be deducted on 25000/- since does not exceed the threshold limit OR Total amount of 70000/- need to consider for threshold to deduct tax on 25000/-.

Thanks in advance

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