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Virend
I am retried govt employee. i am geeting 23000 pension after commut. I have deposited 15 lack in senior citizen saving plan. how to save tax in my scs and on fd. please help
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Dear Mr Virend,
We required complete details to work out your tax income & tax liability then only we will able to guide you in proper way for tax planning.
For further consultation you can approach us at ca.rahuldwivedi@gmail.com or 9004485337
A
Aryan
I want to buy a 10-20L car as a gift for someone who is not a relative. What are the tax implications? would the car have to be registered in my name first then transferred to their name? I would also like for my accountant not to be aware for this transaction
Dear Admin. Please block this type of questions. If its not possible then please let us know how to deactive account in Finaco. I am happy to exit.
T&C applyM
Mohit
I have taken Loan against Property (LAP). Is it eligible for Tax Exemption or can it be exempted under 24 (B) or any other clause.
Dear Mohit,
LAP is not eligible for deduction U/s 24.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377
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Sathya Dhamodharan
Hi I have a cash deposit of 11 lakhs received as gift.Kindly let me know how to show in ITR
Dear Satya,
Cash deposit of RS. 11 Lacs may trigger some income tax issues for you. First you have to disclose gift amount in you ITR and secondly in case of any litigation you have to prove with evidence that you have received it in gift.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377.
T
Tanuj Dolia
Sir I have a 1 question.. I have a one gaming app. I deposit 1 lakh in this app.. and my app wallet balance is 1 lakh.. after that players of games deposit in my bank account i.e. one player add his gaming balance rs 2000.. he send this amount to my bank account.. I received payment in my bank account and received sms of payment.. then rs 2000 automatic less in my 1 lakh rs.. then players gaming balance added to his account.. in this process I received 2% of every payment send by players.. so I want to know that. In 1 day I received 30 transaction in my bank account.. so monthly transaction is 900. So what I do. Open a current account if I open current account so what I show in income tax or whatever which business I start it gives me 2% bonus of every payment I received in my bank.. because transaction of 1 month is 50 lakh. Which I deposit in wallet 1 lakh.. he circulate. When my balance low. I added this balance again. Please solve this .
Interesting query. Its a business income for you. You may do this business as a proprietary concern, or as a partnership concern or even as a private limited company. Its better to open a current account if its a proprietary concern. In the case of the business as a partnership or as a company, the bank account will have to be a current account in the name of the partnership/company.
Please ensure that the gaming app is legal
First of all open a company if you wish to do it long term and open an escrow account to accept this amount or else even this 2000 could be considered as your income.
To consult more on this CLICK HERE: https://www.taxontips.com/tax-notice-personal-consultation/
