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Ibtisam Basharat Bhat
Hello there! Please answer one of my questions. In India there is a gst on goods. For me selling on amazon USA, my products come from China, to sell in USA. Will i have to pay any GST of them of India?
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As per your transaction, your product come from china and sold in USA. there are 2 conditions in it. first when you directly send goods to USA from china, in this case no GST and duty will be applicable. second case when you import the goods to India first and then export to USA, in this case you have to pay import duty and export duty according as applicable, if you move these goods in India from one state to another state after custom clearance then GST applicable. For professional consultancy, reach us @ capushkaragrawal@gmail.com or call on 8475918165.
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Krishna
I have to transfer a 10year old PF account to current UAN. I tried online, but its not locating my previous establishment. I reached out to my current payroll team to do a manual transfer to uan, but they cant do it and asked me to reach out to my CA. I would need your help in closing this and need the next steps
For professional consultancy, reach us @ capushkaragrawal@gmail.com or call on 8475918165.
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Sandeep Sharma
Hi,
I need help on below topics.
1) I have given some amount to my father by cheque and he has invested that amount to purchase some property on his own name.
So , Can i claim this amount for tax exemption and under which section. And how much maximum amount i can claim.
2) Can I invest some amount on my parents name (FD,RD) and claim for tax exemption under which section,
Thanks
The monetary gift to your father will not be treated as income in India, as gift from specified relatives, including children, is outside the scope of provisions of Section 56(2) of the Income-tax Act, 1961, which provides for taxation of gifts at the hands of the recipient. But you cant claim any tax exemption for gift to father. For more professional consultancy , reach us @ www.tarunguptaca.com or call at 9216216819
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Mehulkumar
I have taken home loan of 18lacs 2 years before and now taken top up loan on it 11 lacs . Can i claim top up mortgage loan under income tax benefits?
You can claim tax exemption from a loan against property if the loan amount is utilised for business purposes. In such cases, benefits can be claimed against interest paid and associated fees and charges incurred. These payables can be claimed as business expenses under Section 37(1) of the Indian Income Tax Act.
If the top-up loan is utilized to buy or build a new home, both the principal and interest components are tax-deductible under Sections 80C and 24. (b). However, if the funds are utilized for residential property renovation, alteration, or repair, the deduction can only be claimed for the interest component. For more professional consultancy , reach us @ www.tarunguptaca.com or call at 9216216819
Dear Mehulkumar,
You can avail the benefit of top-up loan at the time of filing of return .
For further Assistance you can reproach us on ca.rahuldwivedi@gmail.com or 9004485377
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Faheem
I want to know how can i claim my pre emi in ITR
Income tax act allows to claim pre-construction interest only after the construction is completed in 5 equal installments. Also only interest component can be claimed as deduction on completion of construction.
