Fire your tax related queries and i would get it solved!!!

Are you able to understand the replies and act accordingly to this thread ??

  • Yes, Clearly able to understand and take action on threads suggestions

    Votes: 4 100.0%

  • Yes, able to understand BUT NOT able to take suggested course

    Votes: 0 0.0%

  • Somewhat able to take desicions, BUT seek professional help in my area

    Votes: 0 0.0%

  • Find it tough to understand the replies hence always seek other professional help

    Votes: 0 0.0%

  • Not able to understand any of the replies !!!

    Votes: 0 0.0%
  • Total voters
    4
  • Poll closed .
diosys

diosys

Well-Known Member
#1,251
#1,251
TFL said:
For getting the money as LOAN from my father is there any loan period limit?
Do I need to state upto what time the loan will be help and the interest rate?
For example if the amount is Rs: 25Lakhs what rate of interest you can suggest which seems genuine?
Click to expand...
No there is no loan period limit....

12% should be adequate....
 
diosys

diosys

Well-Known Member
#1,252
#1,252
TFL said:
Also, If I'm taking the amount as gift then will the income(Business Income from it) from the gift money will need to club with my father? He's not filling returns as of now as his income from india is under tax limit.
Click to expand...
no it would not be....
 
TFL

TFL

Well-Known Member
#1,253
#1,253
diosys said:
No there is no loan period limit....

12% should be adequate....
Click to expand...
Its too much to state 12% for me. Cos 12% comes to about 25000 per month and a transaction of 25% to my father is useless. I only paying Rs: 10000 to him per month. Any other workaround to limit the payout to 10000 itself(Rs: 25L as loan itself).
 
diosys

diosys

Well-Known Member
#1,254
#1,254
TFL said:
Its too much to state 12% for me. Cos 12% comes to about 25000 per month and a transaction of 25% to my father is useless. I only paying Rs: 10000 to him per month. Any other workaround to limit the payout to 10000 itself(Rs: 25L as loan itself).
Click to expand...
12% was the upper limit....it can any within it...but keep it constant throughout the year....
 
TFL

TFL

Well-Known Member
#1,255
#1,255
Thank you diosys sir. My doubt seems to be over now except the below one.
You said to do these transaction via cheque, Is it ok to have it by direct bank transfers(RTGS, NEFT, etc)?

Thank you once again.
 
diosys

diosys

Well-Known Member
#1,256
#1,256
TFL said:
Thank you diosys sir. My doubt seems to be over now except the below one.
You said to do these transaction via cheque, Is it ok to have it by direct bank transfers(RTGS, NEFT, etc)?

Thank you once again.
Click to expand...
yeah they would be fine....

and would not let you go unless you tell me a good quality stock so i am able to recover my fees.... :D
 
J

jcb840

Member
#1,258
#1,258
can someone tell me that wt shld i do i m representing case here


1. there is business loss for year ending march 2009
2. have salary income
so i need to fill ITR 1 OR ITR 4 or ITR 2

and is it necessary to file business loss (i.e. to fill ITR 1 & not disclose the business loss )as i m not going to get set off of losses as i have not filed return on 31-7-2009

and wt is the last date to file return of year ending 31march 2009
i know 31 july 2009 is already gone

option 1. 31 march 2009
option 2. 31 march 2010

plz help
 
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