I was in Korea for 120 days, now inoirder to get NRI benifit I have to complete 182 days out of India, so planning a cheaper place where I can stay for 62 days, Can Nepal be considered as one of the options or Pls suggest any other country cheap and where I could get the tax benefit as well. thnks
Will it be taxed like capital gains or as business income. The firm is established with the purpose of investing in shares only.
We gave an employee his work vehicle upon retirement. Value of the vehicle is 10,000. Employee has requested we take taxes on the value of the car. How do I report this for payroll and tax purposes? Is it compensation or non-compensation since we are collecting the tax on it but it is a vehicle and not a paycheck? Any help would be appreciated!
My wife and I own a property as Joint Tenants as opposed to Tenants in Common. As Joint Tenants are we forced to split the income 50% / 50% for tax purposes or can we vary this. Due to our respective incomes it would be more advantageous if we could apportion all of the income to my wife.
I owned shares in Company A. The shares were purchased less than a year back. Company A declared a 1:4 bonus share issue. They announced that that any fractional share entitlement will be aggregated and sold in the market and the proceeds distributed to shareholders entitled to fractional shares.
I received 6 shares and Rs. 66 for this bonus share issue.
1. I am assuming that the 6 shares will be treated as having a cost of acquisition of Nil for income tax purposes, i.e. if I sell them, I will have to pay Capital Gains tax on the entire proceeds. Please let me know if this is correct?
2. Since no STT was charged by the company for allotting these shares, will I be liable to pay Long Term Capital Gain tax if I sell them after 1 year?
3. How do I account for the Rs. 66? Is this to be considered as Short Term Capital Gain or is it to be accounted under some other head?
Thanks for your answers.
the 5 Year Tax Saving Fixed Deposit has an interest of 7.5%. I am not looking from earnings point of view, but usefulness of the investment. Like for e.g. can I avail any loan facility on the fixed deposit.
Would like to hear from those who has availed SBI home loans as to how long did it take for you to get it approved ? More over, did you guys opt for the SBI Home Insurance for the loan ? Is it some thing really useful & what is the calculation for that?
Thnks everyone & Pinkki.The apartment is ready to move in of a renowned builder,first sale & approved by the concerned Govt. authority.
AT THE END OF DAY IN NIFTY FUTURES, WHICH PRICE DENOTES THE CURRENT PRICE? IS IS LTP OR CLOSE PRICE OR UNDERLYING VALUE? PLS ANSWER IN DETAIL. I DONT KNOW WHICH PRICE TO TAKE AS CURRENT PRICE FOR CALCULATION PURPOSES.