I work for a MNC in India which has it's stock listed on NASDAQ in USA. I get RSUs of the US stock as a part of my compensation (listed under perquisites in form 16).

Scenario:

Note that my mother, father and the HUF have almost no income.

I gift "x" amount of those vested stocks to mother, "y" amount to my father and "z" amount to my father's HUF.

Assumptions/Understanding:

(1) These gift transactions would not trigger any tax payment at both ends (giver and receiver) as they are exempted relatives.

(2) Given this transaction happens electronically (from my trading account to the receiver's trading account), a record is always available of this transaction so a Gift Deed is not required.

(3) Since the gift is not given to the spouse here so clubbing provision don't apply here.

(4) NASDAQ listed equity is counted as unlisted shares and STCG at tax slab is applied for sale under 24 months, LTCG at 20% with indexation after 24 months applies.

(5) The cost and date of acquisition of the gifted stock in the receiver's hand would be the same as me (the giver).

(6) If my mother sells "x" amount of stocks within 24 months of the date of acquisition (not gifting), STCG would apply on the profit derived from "x" amount of stocks (sale price - cost of acquisition) as a part of her normal income as per her tax slab. And given her income is almost negligible that profit (upto a max of 10 lakhs) gets taxed at a rate much lower than 34.32% (had I sold them, I would have paid at 34.32% or had I waited for LTCG to kick in, 20% with indexation benefit). Is this understanding correct?

i am director in a company since Dec 2016 with stock options and salary . my company is getting closed but my compensation has not been paid since 4 years and the top management is not responding to my claims . Where and how can i claim or complaint as per the legal procedures ..

As per Rule, any value of gift received higher than Rs 50K become taxable under the section 56. (Lets assume not through relatives) if it is declared by the receiver does it get exempted to the person who gifts the same? if not allowed, will it not become double taxation in the hands of receiver, if his income falls in income tax slabs?

Sir,
A Gst registered Regular scheme dealer itc excess claim notice received from gst department difference between gstr3b vs gstr2a/gstr2b previous years:18-19,19-20,20-21 years total excess itc claim rs:8 lacs.if dealer itc claim orginal invoice based input show in gstr3b return filed every month
Question:
Dealer itc claim excess previous years notice show amount tax pay compulsory.

Good Morning Sir,
I have a query.
Recently Gov. notified that residential dwelling will no more be exempted and the registered party has to pay gst under RCM
A company i.e. STARKE INDUSTRIES is registered in Karnataka and they pay lease / rent for their employees residing at UP ( Please note right now company is not registered in UP)
Query 1 :- If immovable property is located in a 'state where STARKE INDUSTRIES is not registered' i.e. in UP and location of supplier (LOS) is also in such state i.e. UP then CGST and SGST is required to pay being an intra state supply. So how liability of CGST and SGST would be paid while company is not registered in such state? Or company will pay IGST? kindly tell the section which need to be gone through
Query 2: - If immovable property is located in a 'state where STARKE INDUSTRIES is not registered' i.e. UP and location of supplier is in MP. Then what will be levied i.e. whether IGST or CGST & SGST
Kindly have a look at the queries I will be highly obliged.

Sir/Madam

Two days before i was tried to submit 10E for getting relief of arrear salary received during 2021-22. Mobile no is not linked with my adhar card so OTP is not generated. So 10 E form not successfully submitted online. I summited ITR V on the same day.

What to do for form 10E?? Can i will take printout and submit with ITR V at Bangalore Office??
Is any option to generate OTP.? Netbaking is not possible and OTP generate through ATM machine, i tried it but option is not found out.

Please guide me at earliest.

Its more of a academic query. I recently came across income tax computation of a person where his professional friend had attempted to show most of his receipts of income as hand loan thereby trying to avoid tax on genuine income. Now I was wondering what are the ways through which Income Tax department would ensure that such an assessee cannot escape taxation. Also can you point out ways through which this kind of tax avoidance method would fail ?

Namaste,

I am trying to file ITR 5 for a Housing Owners Association (non audit AOP/BOI) for AY 2022-23 primarily to take refund of some TDS on our deposit in bank. I have used Offline utility to fill the form. Form is validated successfully but on submitting the JSON in portal I get following error -

"PAN mentioned in the return in verification part does not match with PAN of authorized person"

The PAN in verification section is added as Key Person in My Profile. PAN is also added in partner list in General Information section.

Any suggestions to solve this will be of great help to me. Thank you.

Sir/Madam

Please resove below doubt for taking deduction of Housing Loan -Interest & Principal for the fy-2021-22--
> One of my client have taken housing loan in joint account with his wife - proportion is 50 % each

In last year he was taken deduction of housing loan interest & principal 50 % individually.

In this current year can his wife taken 100 % housing loan interest and principal from her total taxable income?? because his spouce income is not taxable income and tax payable??

Installment is paid from saving bank account- jointly holder

thanks in advance

Sir,
I am employed with an NGO on salary basis & tds is deducted u/s192 for AY 2022-23.I have also travelled in india on official tour during the same AY for which expenses on Air travel,Lodging ,boarding & conveyance are reimbursed by the Director of NGO from his account , and TDS has been deducted on such reimbursement & deposited with govt u/s 194JB under his own TAN no. The Salary TDS TAN is different & as such this reimbursement is not reflected in my salary form 16.
Please clarify whether I can claim exemption u/s10(14)(ii) for such reimbursement, if yes then how to claim in ITR under which head.I have only interest income other than above & as such am I required to file ITR 1 or2? I tried claiming the reimbursement by first adding as income from other sources & claiming deduction u/10(14(ii) but the return does not go through as deduction u/s10 (14)ii) should be included under the head salary as per return.
Thanks.
Ashok