As on which amount of salary ESIC & PROVIDENT FUND DEDUCTION IS 100% EXEMPTED.

Whether one is 100% exempted from ESIC & PROVIDENT FUND DEDUCTION if the salary payable is above Rs 15,000 ?

Please guide me and oblige.

My daughter earns Rs300000 from giving tutions to children.can she give me cash gift of Rs250000. Is there any violation of income tax laws.

We are purchasing materials by paying gst taxes and claim gst input tax credit.how will we know whether the seller is depositing gst taxes to government.We are paying our gst taxes to sellers and if sellers dont deposit gst taxes what will be our liability.please clarify?

We are purchasing materials by paying gst taxes and claim gst input tax credit.how will we know whether the seller is depositing gst taxes to government.We are paying our gst taxes to sellers and if sellers dont deposit gst taxes what will be our liability.please clarify?

Respected.

My Wife applied for PAN through NSDL website using online paperless process and Aadhar E-KYC. She got allotted PAN and she also received PAN Card.

But here is the catch.

We tried to use the same to open Demat account online but we got the error "Invalid PAN as per Income Tax Records". We checked PAN Status on Income Tax Efiling Website. It says that this PAN No. is "ACTIVE". We also registered on E-Filing Portal without any issues.

But even after this, we got the same "Invalid PAN" error on brokers' website. So we tried to test this PAN on OLTAS webpage. We filled challan details (280 Challan) and submitted. But we got the same error "Invalid PAN".

We are under utter shock as to this. This PAN has no issues @ Income Tax Efiling Site. But if we use it at third party site such as - OLTAS, it is invalid. In fact, we have PAN Card. So there must not be any error in PAN application.

What should we do? Kindly help. Thanks.

My father purchase a property in 15-11-2006 of 5,80,000 rupee and then he gifted (transfer) me (his son) this property in 14-9-2016 now i am selling this property , now the confusion is this who can take capital gain of this property me or my father under which section ?

I am currently one of three working members in a family of four people. My Mother, Father are also working and my younger sister is currently in college. In order to save certain tax liability and to make financial investments, we decided to save money in form of FD in my sisters name.

I wanted to know if that would attract any tax liability? To elaborate further, I have the following specific questions

1. When we transfer money to her account, can that be counted as a Gift ? If not, would that attract any tax liability ?
2. If it does get counted as a Gift, would the income from FD be counted as her income or would that be clubbed with the income of the people who are gifting her that money ?

Our objective was to create FD Interest that comes under less income tax bracket. All three of us (My mother, father and myself) earn more than 10LPA and hence come under 30% tax liability bracket. My sister is older than 18 and hence an adult. I am also clear that at the very minimum, the income generated from the FD would be her income and we would need to pay Tax on that, which we are diligently doing

Whether NRI can invest in agri land purchase cost Rs.4000000. Whether he can use liberalised remittance scheme for such purchase if so upto how much he can utilise? Whether he can remit money through NRI OR NRO ACCOUNT?

sir,
we are just started a business and we are three partners. one partner withdraw some amount from his capital investment and its paid by cash. then how we can entry in tally. please explain with the entries

Dear sir,

I have a accounting related issue. I am preparing accounts for my client. The issue while accounting is this he sale to varies party non gst goods ( Hari Mutur ) from purchasing the mutur from agriculturist.

He sale in the name of orignal party and receive the payment of sale from some other party on behalf of orignal party. Now how the balance of orignal party and other party (who transfer us the payment but no sale is made to them) treated.
example- sale made to rajendra for rs 10 lakh and bill is raised in the name of rajendra for rs 10 lakh and payment is received from akshat rs 10 lakh now how i adjust that payment from akshat is recieved on behalf of rajendra. my issue is how i clear the both account.

Please suggest