Experts : 1 Days Post

Displaying all posts within 1 days

Karthik Rajendran

15 May 2024 at 22:24

Posted On : 15 May 2024

Income tax for gift shares

I am planning to gift share to my wife.
1. Is there any limit to gift share to my wife?
2. If my wife selling the shares with in one year, who is accountable for short term capital gain tax, me or my wife?

Dhirajlal Rambhia

15 May 2024 at 22:17

Posted On : 15 May 2024

In Reply To :

Stamp Duty payment for flat purchased in Greater Noida, Uttar Pradesh

1. Yes, any one of you can pay stamp duty.
2. Online mode of payment is available, check with SHCIL website & confirm over phone too.
3. Registration charges are to be paid while registration of the document at Sub-registrar office. It can be paid by draft or UPI mode also.

Praveen Kumar

15 May 2024 at 21:05

Posted On : 15 May 2024

Stamp Duty payment for flat purchased in Greater Noida, Uttar Pradesh

Dear Sir/Madam,
I am my wife in joint ownership have purchased a flat in Greater Noida, Uttar Pradesh and paid the total consideration( including 1% TDS ). Both of us paid half of total consideration individually to complete full consideration. So, now builder has asked to pay the stamp duty and registry fees.
Kindly resolve following queries.

Query (1) Whether the stamp duty can be paid by any one of us or will have to be paid up by both of us to SHCIL , Uttar Pradesh ?
Query (2) Whether the stamp duty can be paid by online NEFT mode ? I am preferring NEFT mode.
Query (3) Whether the Registry fees can be totally paid online as well ? Builder asked me to pay it 1% cash but I prefer online.

Pls advise.

Dhirajlal Rambhia

15 May 2024 at 19:42

Posted On : 15 May 2024

In Reply To :

Guidance required which ITR form to be filled

File ITR 3.

Mahesh S M

15 May 2024 at 18:37

Posted On : 15 May 2024

ESI deduction to be made above 21K salary

What should be done at the time of ESI return filing if we have an employee who was previously enrolled for ESI and now has a salary that crosses 21K?

Nitin Lale

15 May 2024 at 18:30

Posted On : 15 May 2024

Guidance required which ITR form to be filled

if the person have income from salary +some income received as a professional fees(TDS also deducted) + Rs. 5000 short term capital gain + Rs. 19000 long term capital gain so in this case which ITR form to be filled please guide

J.SINGH

15 May 2024 at 18:12

Posted On : 15 May 2024

PROPER ACCOUNTS HEAD

Sir
I am employed as an accountant in a firm where paint is applied on finish goods for identification of material so I would like to know under which head it should be posted currently I am posting it under consumable store

thanking you

Bhavik Shah

15 May 2024 at 17:09

Posted On : 15 May 2024

Interpretation of RBI Master Circular for Consignment Exports

Reference:
Master Direction – Export of Goods and Services (Updated as on November 22, 2022)
RBI/FED/2015-16/11
FED Master Direction No. 16/2015-16
C12> (iv) In case the goods are exported on consignment basis, freight and marine insurance must be arranged in India.

I have a case where an overseas buyer is paying for the freight and insurance in case of consignment exports and also for the re-import of goods of the same consignment exports so we export on the basis of FOB.
Our bank says that as per RBI Master Circular it cannot be FOB as freight and insurance has to be paid in India.
I would like to understand the interpretation of this guideline.
Does it mean that:
1) Freight and Insurance has to be paid by the exporter
2) Freight and Insurance has to be paid in India by anyone of the exporter/overseas party/third party
3) Freight and Insurance has to be "arranged" in india at the time of exporting but can be paid by anyone anywhere
4) Freight and Insurance has to be paid/arranged in India only so as to safeguard the FOREX involved in the transaction in case of any loss/damage of the product (since in case of consignment the ownership has not yet passed to the overseas buyer)

Vijay Koradia

15 May 2024 at 16:51

Posted On : 15 May 2024

44AD where turnover is more than 1 Cr.

If TDS is not deducted and we have not claimed the expense in our profit and loss accounts, what are the consequences of it? Further, we are filing our Income Tax Return under section 44AD for the current year. I am aware that a 30% disallowance is there, but since we are not claiming expenses, it does not matter. Are there any other consequences?

CA Puja Sharma

15 May 2024 at 16:50

Posted On : 15 May 2024

In Reply To :

GST On commission earned

If the firm registered in Arunachal Pradesh is a proprietorship firm, then GST will apply on this commission income also.

Nidhi Kanabar

15 May 2024 at 15:17

Posted On : 15 May 2024

GIFT TO NRI UNDER FEMA

Hello,

whether drawal of foreign exchange by resident Indian for remittance of gift $20000 to grand daughter(NRI) is allowed under LRS scheme of FEMA Act 1999?

Reply at earliest

Dhirajlal Rambhia

15 May 2024 at 15:14

Posted On : 15 May 2024

In Reply To :