Are you paying rent more than 50000?

Are you paying rent more than 50000? As per the latest amendment under section 194 IB of the Income tax Act, 1961, The Individual or HUF should deduct the tax on the rent that they are paying to the resident persons if rent more than 50000 per month or part of a month during the […]

File your IT Return to report your income

File your IT Return to report your income – Email from IT Department If you have reached to this post that means that you have recently received an email to File your IT Return to report your income. In recent times, the IT department has become excellent in communicating directly with the tax payers via email and […]

Income Tax Filing

Income Tax Filing In this age of technology, most of us have become do-it-yourselfers for Income Tax Filing. This makes sense in most cases, but not when it comes to individual or business Income Tax Filing. Entering a few numbers into the latest tax software might be quick and easy, but it could end up costing […]

Process of Incorporation of Private Limited Company

Many clients usually ask me regarding the Process of Incorporation of Private Limited Company. We offer Private Limited Company Registration as one of service offerings. So without further delay, lets jump into the process. Process of Incorporation of Private Limited Company I will divide this into multiple stages to make it easier for you to […]

Take Credit Risks Out of Liquid Funds

Take Credit Risks Out of Liquid Funds Following is the excerpt of Liquid Funds article from a newsletter that I received from Quantum AMC. Our firm is empaneled with Quantum AMC for Investment Planning and Servicing. This article is on the same line of thinking which I have been saying to many of my clients […]

Real Estate company held for anti profiteering charges

Real Estate company held for Anti Profiteering Charges Recently an order was passed where in the the National Anti-Profiteering Authority held a Real Estate company for anti profiteering charges in the case of sale of flats to the buyers.     In Sukhbir Rohila v. Pyramid Infratech Pvt. Ltd. (2018) 9 TMI 1107 (NAA); (2018) […]

Income Tax Mumbai Offices

Income Tax Mumbai Offices Income Tax department has become very vigilant and many people are getting Income Tax Notices. You may have seen this type of online ad that is being published by Income Tax Department   This notices are primarily sent to people who are suppressing their incomes and trying to evade tax. But […]

Partnership with Anand Rathi Wealth Management

Partnership with Anand Rathi Wealth Management   We are happy to announce our partnership with Anand Rathi Wealth Management. The service offerings by both of our companies are very complementary and we will be at your side to support you in your journey to create Wealth. Anand Rathi is a leading full financial services firm […]

TDS on Sale of Property

Tax Advisor view – TDS on Sale of Property In July 2018, Shayna sold a property in Mumbai. Shayna is 26 years old and works as a freelancer consultant for Graphics Design. She did not know about payment of TDS on sale of Property at the time of sale. Also, even the buyer was unaware […]

Deduction for the rent paid

If you are a self employed person or a salaried person who does not receive HRA, you can still get deduction for the rent paid on the house. This deduction can be availed even if you are staying with your parents, however there are certain conditions attached that should be fulfilled and the claimant needs […]