Dear Sir

My father in law had constructed 4 floors and gifted each floor to his 3 daughter's in year 2012 and in one he is himself staying. My wife also the recipient of the floor via gift deed in year 2014. In the year 2018 my wife sold the property in June 2018 at a consideration due to finance requirements .

Kindly advise if the proceeds are taxable as per law since the property was inherited.

If yes what is the way to save tax.

Thanks

Suppose my net profit is 50000 after deducting depreciation of 2% and my net profit ratio is 8%, now while filing of return I have claimed depreciation @10% and my taxable profit goes down to 30000 and my net profit ratio goes below 8%.
Please guide whether my approach is correct. Also please suggest whether there is need to book deferred tax and in this case am I liable to tax audit.

Please guide experts..

Dear Experts

Please help me to know the limit (turnover )of audit for Income tax under 44AB for Business and for presumptive Business and also what is the audit limit for GST , F.Y. 2017-18.


Reds,

I purchased goods from a party in september 2017 and paid full amount by cheque.The party showed sales to me in gst returns.Now I have received letter from gst department to pay input tax credit of referred along with interest.I have already paid to the seller still demand coming.

Sir, How can I reset Income tax (e-filing) login Password without that given four option. because in my case that given option is not helpful/useful for me.

I want to show commission earned as income of huf of which I am karta.can i show to my huf.pl help .

SIR APSRTC(TRANSPORT CORPORATION OF AP STATE) IS PURCHASING BUSES TO DO BUSINESS OF TRANSPORTING PASSENGERS AND GETTING INCOME. APSRTC IS PAYING GST ON PURSHASE OF BUSES AND SPARE PARTS FOR BUS REPAIRS and paying GST on purchases, APART FROM TRANSPORT BUSINESS Apsrtc is also renting its vacant sites in bus stations for stalls for getting income and collecting GST .Can apsrtc avail input tax credit while remmitting gst to govt(gst collected minus gst paid ) on the ground that buses are using for furtherance of business including renting vacant sites.
KIND EXPERT OPENION IS REQUESTED,
N V RAGHAVA REDDY CA
FINANCIAL ADVISOR
APSRTC
nvrapsrtc@gmail.com

INCOME TAX FOR TAXABILITY OF CABEL OPERATORS IN VILLAGES .
Can we apply 44AA ???

I've submitted my tax return in July 10th online and verified it with Aadhaar. I have yet not received my 10k refund. Is this normal?

Hello,

I would appreciate your help on the below questions for taxation between INDIA and SINGAPORE.

Assumptions:
I am an Indian citizen
I have never traveled out of India
I am over 25 years
I currently have a job in India

1. If I quit my job on the 22nd of September 2018 and move to Singapore permanently from 24th September 2018 and begin work there from the 25th of September 2018.

A. Will I have to pay taxes in INDIA on my income earned in Singapore?
B. Will I have to declare my income earned in Singapore in my ITR filing in 2019?


2. If I quit my job on the 6th of October 2018 and move to Singapore permanently from 07 October 2018 and begin work there from the 8th of October 2018.

A. Will I have to pay taxes in INDIA on my income earned in Singapore?

B. Will I have to declare my income earned in Singapore in my ITR filing in 2019?


3. If I send money earned in Singapore (e.g.1000 SGD) to my mother's saving bank account in India.
A. Will she have to pay taxes on the amount (1000 SGD)?
B. Will she have to pay taxes on THE INTEREST from that income?