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Utkarsh -- Portfolio

Utkarsh Porwal

new delhi

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Hi, I am a resident Indian trader from Mumbai. I have a couple of questions regarding my sale of 1 BHK flat from a registered society.

1.. Out of the sale proceeds of the flat, can we invest in land and claim deduction?

2.. I have held the flat for 2 years, am I eligible for exemption from long term capital gains if I do not invest this money anywhere else?

3. Can the sale proceeds come through cash?

4. The agreement value of flat is Rs. 31 Lakhs while the actual deal was made for Rs 38 lakhs, how do I receive the remaining amount? At what value should I pay taxes?

5.. Will this sale constitute my annual income?

6) By when should I buy/invest into a new property after selling my property to claim deduction?
Jan. 09, 2018
What are the requirements relating to the issue of the Prospectus?
Dec. 18, 2017
Hi, me and my wife purchased a house property on the 17th of August, after taking a home loan of Rs 75 lakhs from the State Bank of India. The loan was under the combined name of me and my wife. And my wife owns a property which was gifted to her by her mother .

We want to sell this property for Rs. 45 lakhs and use the money for part payment of our housing loan. Will she have to pay tax on this amount? What tax is applicable in this case? What are the eligible deductions we can avail?
Jan. 09, 2018
What is difference between standard cost and budgeted cost?
Sep. 11, 2015
....THE "A" ASSESSEE HAVING TWO SON VIZ "B" AND "C" THE "B" IS STEB CHILD OF "A" THE "C"IS ADAPTED CHILD OF "A" "B" AND "C" RECEIVED GIFT OF RS.1 LAC IS FROM THEIR FATHER "A" THE QUESTION IS TAX ABILITY OF GIFT RECEIVED BY "B" AND "C"FROM THEIR FATHER "A" THE WORD BLOOD RELATION WILL APPLICABLE TO THE SONS OR NOT

May. 29, 2018
What are the Rights of Dissenting Shareholders?
Jul. 28, 2015
I am non-resident and I have deposits in my NRE account. I am planning to move to India for employment. My question is....what would be the treatment of interest on NRE deposits in India? Do I need to pay tax only on my salary income or everything, including NRE deposits income?
Jan. 09, 2018
My parents will be receiving the Land compensation the land which is in rural area from High court on behalf of Govt of MP. I am receiving that money as a gift from my parents. Can I get this money as a gift. Is there any tax applicable to my father or myself. if I will receiving the Land compensation money from my parents ?
Jan. 09, 2018
I purchased a car from an Audi showroom in Delhi, I was asked to pay a down payment of Rs. 2000000 and Rs 200000 every 3 months for 1 year. However, they refused to pass me the ownership papers of the car until I had paid all the installments. What kind of an sale agreement is this?
Dec. 18, 2017
...Hello An individual Is a director of a company and drawing salary of Rs. 180000 pm . From that he is paying rent of Rs. 60000 for his house rent and claim deduction under HRA. He is also running a business and turnover from business is approx 5 crores. He has got TAN Number under that and paying TDS to govt for business expenses like payment to contractors , interest on loan etc. My query is : 1. Is he suppose to deduct TDS on rental payment @10% pm or 5% pm which Is personal expense and paid out of salary income and not entered in business expenses. 2. Do we need to mention anything about salary income in tax audit report and balance sheet need to be prepared for combined income or just business income.

Jan. 25, 2018