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CA Sunil Chahal this side, I am a Practicing CA ,I have experience in Income Tax, GST, Accounting, Payroll , Company compliance and other miscellaneous provisions. The information provided here regarding your tax/other issue is for informational purposes only and should not be considered as...

Yes you can create HUF and save taxes but there are some conditions. You can claim exemption for home loan repayment u/s 80C upto 1,50,000 and also for Interest u/s 24(B), both you and your wife can claim deduction of RS 2 lakh each if both of you are joint owner. Also you can claim additional...

Step 1: Identify LTCG investments Review your investment portfolio and identify assets held for more than 1 year that have shown gains. These qualify for LTCG. Step 2: Check the LTCG exemption limit In India, LTCG up to ₹1 lakh on equity shares and equity-oriented mutual funds is exempt from...

Section 24(b): Interest Paid on Home Loan Each of you (you and your wife) can claim a deduction of up to Rs. 2 lakhs per financial year on the interest paid on the home loan. Since all three of you are borrowers, the total deduction you can claim together is Rs. 6 lakhs annually (Rs. 2 lakhs...

You have to pay tax on your salary if it comes into slab rate (no deduction of amount transfer to your mother account), Amount you transfer to your mother account have to show as gift in her ITR and there will be no tax on Gift. If you earn any long term or short term capital gain then your...

if you are also receiving HRA, then as per my opinion you can claim but nowhere clearly mentioned that about it, you can claim it but tax authorities can raise this point that you are not living in the house but still it can be argued, if you are ready to give reply to notice if you got then you...

Dont do this type of blunder if u will show that your wife paid u 18 lakh then they will ask her to pay tax on that and if you will show 25 lakh revenue and will show it as service then you got notice from GST that why u have not taken registration. There is simple solution just show your credit...