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Farhan fahee

Can i claim deduction for tuition fee u/s 80c which is paid using education loan taken?


Deepak Shara
26 June 2024 at 23:15

Taxation on accrued interest

In case an FD spans over more than one financial year, then the accrued interest at the end of the first financial year is added in income as accrued interest and TDS is deducted. In the next financial year, the interest is paid, so the interest received is added in this year, meaning that the amount equal to the accrued interest is taxed twice. Is it that the banks will show the interest paid in current year after deduction of the accrued interest in the last year? ls this the practice adopted by the banks or they add complete interest paid as income for the current year?


CA Ritu Chauhan
26 June 2024 at 18:14

Income of a Non-Resident

A person has gone abroad for studies. When he was still resident, he had received gift from his mother for further studies in foreign country. This gift amount was then transferred to his bank account held in foreign country. Since the entire course fee was payable in installments, he temporarily parked the surplus funds into a Global Mutual Fund. Then as and when required he used to redeem mutual funds & utilise the proceeds for payment of course fees & his daily routine expenses. The question is, whether capital gain earned on redemption of such global MF will be taxable in India in the hands of the person (the student) where his residential status is 'Non-Resident'.


KRISHNA RAJ
26 June 2024 at 17:26

NSC Interest Taxation

Last year (FY2022-2023) I paid tax on NSC interest on maturity/ receipt. This year FY2023-2024, AIS shows NSC interest on accrual basis.
Being in new tax regime, is it OK to pay tax on NSC interest on maturity/ en-cashment/ receipt ? or is it necessary to pay tax on NSC interest every year on accrual basis ?


keyur

Sir/Madam

Request to clarify me whether income received from above subjected is taxable or not ??
if yes then under which head??


Sanjay

Sir,

I have below query :

I am salaried income along with Short & Capital Gain for the FY2023-24
1) Income earned from Salary is Rs. 412029/- deduction is Rs. 13142 HRA , Rs. 2400 Professional Tax, Rs 50000/- Standard deduction.
2) Interest from FD is Rs. 33640/- and dividend for share Rs. 11906/- 3) Deduction under section is Rs. 150000/-
4) i have earned short term profit is Rs. 28406/- and Long term profit is Rs. 124955/-

Please guide me whether i am taxable for capital gain i.,e short term amount of Rs. 28406 and long term Rs. 24955 after exemption Rs. 1 lakhs
but my total income is below 5 lakhs (including salary, interest on FD, capital gain) after deduction .

Thanks & Regards


suresh s. tejwani

What amount should we declare in Table No. 3 of Schedule Foreign Asset. i.e. in INR or Dollar?


SIDDHARTH MAHESHKUMAR SHAH
26 June 2024 at 13:56

Section 10IEA

What does Section 10IEA describe.
Who has to file Form 10IEA.


Gaurav

Hello Members,

The client's building went into redevelopment and he got a new flat from the builder.
Now he has sold off his flat.
For Capital Gain Purpose what will be the Cost of Acquisition of the Flat.
Shall we consider the Original Cost of his acquisition as the cost of new flat or will it be the Cost of new flat at the time of getting possession in the redeveloped building.
He has not paid any Capital Gain tax earlier at the time of handing over possession to builder and will be filing his return for the first time.


kollipara sundaraiah

Sir,
It assessess some equity shares transaction details mentioned below
Ab capital buying value rs:14810 selling value rs:15350 profit rs:540 zerodha share transaction
Question:
Above share transaction zerodha account treatment and short term capital gain treatment in it act.







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