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Ans: No Capital gain will be applicable if the plot is purchased with the view for construction of house for residential purposes on the same as per the time limits allowed Under section 54, else you have to pay Long term capital gain.

Ans: Yes you have to pay tax on Short term capital gain, being special tax rate income is not covered in rebate U/s 87A.

Ans: for current financial year Rs 608400 will be tax liability and for next financial year it will be reduced by Rs 85-90K approx.

Ans: Hi,
There will be no tax liability to you, basis only interest income of 6 Lacs, as under net tax regime no tax upto 7 Lac.

Ans: Hi,
The expenses made for daughter wedding is personal nature expense which is exempt in nature from tax.
only accounting entry in capital account will be passed to give the effect of expense & same will reduce your capital contribution of assessee in the business.
Happy to help.
Thanks.

Ans: hi,
for this particular financial year you will be taxed under 2 heads ,1st under salaries for the period you were in job & for remaining part you will be taxed as business income being started freelancing work.

And for freelancers there is no any specific dedutions however all deductions available to all others are available to freelancers like 80C to 80G.

For calculation of taxation of freelancing period you should record all your receipts & expenses (only related to work, no any personal expenses) details with proper documentary evidences specially for expenses part, net of the (receipts & expenses) will be your income however you can opt for presumptive taxation also.

For Advance payment :-
if tax applicable to you during the finanical year as per calculations exceeds Rs 10000, then your have to pay advance tax quarterly as below
on or before 15th june :- minimum 15% or more of tax amount.
on or before 15th september :- minimum 45% or more of tax amount.
on or before 15th December :- minimum 75% or more of tax amount.
on or before 15th March :- full 100% tax payable as per calculations.
Happy to help.
Thanks.

Ans: hi,
All 3 investments have different tax applicabilty, details are as below.
1. withdrawl from PPF is Exempt from tax.
2. Investment in mutual funds taxed as Short term capital gain or Long term capital gain applicable at the time of withdrawl & depends upon the duration you invested in the fund.
3. Pension plan :- for government employees commuted part of pension plan at the time of retirement is tax free and monthly pension received by the employee post retirement is taxed as per normal slab rate.

Conculsion :- For shifting of any investment depends upon your wish and evaluations regarding returns & investment restirctions, like PPF is having restriction of Rs 1.50 Lac in a year with fixed interest rate where as in mutual funds it depends upon market situations.

Ans: Hi,
Get the legal hier certificate from court and got name of the child updated for property owner, then only she can sold the property in future as per need.
for this you have to approach the court for appointing you as guardian also till she is minor.
for detailed procedure you should consult lawyer practicing in court under jurisdiction.

Ans: Hi capital gain attracts at the time of sale of property not at the time of purchasing property.
No capital gain on property purchase.

Ans: Hi,
If no income in transaction than there will be no income tax, as in your case no interest so no income tax leviable.
Happy to help - Thanks.