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'.

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 ?

Sir/Madam

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

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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

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

I have paid last month West Bengal p tax amount but unfortunately I did a mistake while filling the p tax challan month May 24 instead of April 24 . How to rectify the challan or any process to rectify it.

Why Rule 11 e of companies rule 2014 is issued by the ministry of corporate affairs.
Means what was the general practice did by business that lead to mca to issue this rule.
Rule 11 e is relating to disclosure for advances given by company to intermediary parties.
In short I just wanted to know actual reason behind rule 11 e.

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

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.