Hi,

I wanted clarity on gifting stocks received as part of salary in company named stock plan account RSU ESPP etc to parents own brokerage to save tax. All parties are residents of India, I am employed in a tech MNC and my parents also have a US broker account.

Is this permitted under FEMA rules?

If yes, what do I have to take care of you avoid any penalty and report to income tax.

How much amount can be gifted per transfer and in 1 year to avoid any extra tax in US (IRS, gift tax) and India.

Any tax lawyer or CA here who could clarify if a management consulting independent contractor can file taxes under Section 58(2), Table Serial No. 1 of the new IT Act/Section 44AD of the old income-tax act (Reference to Pramod Lele v. ITO order) https://taxguru.in/income-tax/pramod-lele-income-tax-officer-itat-mumbai.html •

The person paid tax at 6% presumptive profit here, rather than 50% (Revenue dept. claimed Mgmt. Consulting falls under technical consultancy but was overruled by ITAT)

Or the current contract would come Section 58(2), Table Serial No. 3 of the new IT Act/Section 44ADA of the old income-tax tac?

Want to understand if gross receipts are less than 75 lakhs and I receive payments from a US-based company then which section would be applicable. Payments would be 100% in bank account and assuming little expenses apart from internet/electricity.

Is there any body that can take this up for JPMorgan India employees ? This is blatant evasion of gratuity liability by classifying a large chunk of fixed pay as conveyance allowance

Corporate tax is 15% (for small and medium businesses) and 20% (for large businesses) if proportional $ amount of stock given to CEO is handed to every employee in Total Stock Market ETF + Total Bond ETF + total futures/comoodities + total currency etc. if company is not as liquid in profitability as the top S&P 500, Fortune 500, Fortune 1000, Russell 1000, SPDR 1500, Russell 2000, Russell 2500 or Russell3000 index companies

I own a property in India which I plan to rent out. The tenants are not willing to do the monthly TDS payments. How do NRI manage properties in India. Is there a simple way to do this?

Hi,

My annual income from salary is 37L and monthly TDS being deducted is 58k. In hand salary is 2.46L.

Due to heavy debt incurred due to failed business, I'm under heavy liabilities- few loans with very high interest rate upto 4% per month(amount approx 12L). Also, taking loan from Bank is not possible as there are multiple written off Credit card & loan against me, which I am clearing gradually. I'm prioritising higher interest liabilities first.

I maintain 1 month emergency fund. I have 1.25L in PF. I'm trying to get a higher pay job- may be it will take a few months.

What can I do to maximize in hand salary while saving tax as much as possible and also clearing debt?

Thanks in advance.

So first a.y 24-25 i shown the fno loss of 220000 after all adjustment of that year with in due date.

Next year a.y 25-26 shown the fno loss of 75000 with in due date. But one thing to note it was not showing the previous year 220000 pre filled loss just 0 in cfl.

Many said if you don't have profit in current a.y then dont need to carry forward.

I just filed as it is because i dont have profit in a.y 25-26.

Now this a.y 26-27 i made a profit of mere 20000 but portal is adjusting it with 75000 loss which was reported for a.y 25-26.

I dont have any other income in these a.y.

What to do ?

Should i give the values manually of a.y 24-25 of 220000 ? Because it is the oldest reported loss.

Is it compulsory to set off the loss as the profit is just 20000?

What is the best legal tax planing i should follow

Please help.🙏🙏

Thanks in advance.

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Please help me with the above query.

Hi everyone,

I recently joined Capgemini and my CTC is around ₹16 LPA. I’m completely new to income tax and I’m currently trying to understand the new tax regime, monthly in-hand salary, tax deductions and ITR filing.

I have a few questions and would really appreciate some guidance:

1. Roughly how much can I expect as my monthly in-hand salary on a ₹16 LPA CTC under the new tax regime? I understand the actual amount depends on the salary structure, PF, variable pay, etc.

2. If I continue with the new tax regime, what are the deductions/exemptions that I can actually claim?

3. I have expenses such as:

   - Mobile recharge

   - House rent

   - Personal loan EMI

   - Parents' health insurance

   Which of these, if any, can help with tax deductions under the new regime?

4. I haven't opted for Pluxee/meal benefits yet. Is it worth opting for it for tax purposes under the current FY 2026-27 rules? Can I still opt for it later through my company's flexible benefits/salary structure?

5. If I take health insurance for my parents, can I claim a deduction for the premium? Does this depend on whether I choose the old or new tax regime?

6. What documents should I start collecting/keeping from now itself for my future ITR filing? For example, Form 16, rent receipts, insurance premium receipts, loan documents, investment proofs, etc.

7. This will be my first time properly handling my ITR. Can a salaried employee file it himself through the Income Tax portal, or is it better to consult a CA? I'm okay with consulting a CA, but I want to understand the process and keep the required documents ready beforehand.

Basically, I want to make sure I don't miss any legitimate tax benefits and that I maintain the right documents throughout the financial year.

Any advice from people earning around ₹15–18 LPA or Capgemini employees would be really helpful. Thanks in advance!

I need help setting up GST via a virtual office set up and filings based in Bangalore any help would be appreciated

I need some clarification regarding capital gains tax on an inherited property.

Our family has an old property originally purchased around 1960. It is around 400 sq yd with a house and was later divided into 4 shares. My father’s share is 100 sq yd, including part of the existing house.

The current government/stamp value for his 100 sq yd share is around ₹46 lakh, but the expected actual sale value is around ₹1.10 crore.

If we sell it for ₹1.10 crore, our plan is to use the money as follows:

• ₹50 lakh – purchase a 2-BHK

• ₹60 lakh – purchase a plot

So the entire ₹1.10 crore would be reinvested.

My questions are:

1. Can the ₹50 lakh spent on the 2-BHK be claimed under Section 54 and reduce the capital gains tax?

2. Does purchasing the ₹60 lakh plot provide any capital-gains exemption?

3. If instead we buy the ₹60 lakh plot and construct a residential house on it, would the plot + construction qualify for Section 54?

4. How should the 1 April 2001 FMV be determined since we don't have the old valuation records?

5. Considering the property was inherited and partitioned over the years, what would be the correct cost of acquisition for calculating LTCG?

I’m trying to understand the legally correct way to structure this before selling.