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Mihir Tanna |1019 Answers |Ask -Follow

Tax Expert - Answered on Jul 07, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more

Asked by Anonymous - Jun 14, 2023Hindi

Money

My house is under redevelopment, developer is giving us Monthly Rent Inr 24200 less TDS 10% inr 2420 = Inr 21780 and Hardship compensation of Inr 19800 per month. I have purchased new house of 1.07 crores by taking Home loan current outstanding is 54 lacs. I am paying EMI of Rs.44000. Please inform Rent and hardship compensation given by developer is taxable or not. Recently I heard that Court has given judgement that it is not taxable . Please advise if taxable and if yes how much tax I have to pay.

Ans: There are Judgements in which it was held that rent as well as hardship compensation being capital receipt not taxable. However, income tax department may consider it as Income from other sources and matter can be litigative.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Mihir Tanna |1019 Answers |Ask -Follow

Tax Expert - Answered on Oct 20, 2023

Asked by Anonymous - Jun 03, 2023Hindi

Money

My old house is under redevelopment, Developer is paying Inr 24200 less 2420(tds 1%) Inr 21780 as rent per month and Inr 19800 per month as Development hardship compensation, I am currently staying in my new house which has home loan pending of 54 lacs and paying Emi of 45000 per month and claiming deduction of principal and interest in my IT returns I want to know that Does Rent and Development Hardship compensation is treated as other income and is it taxable? If yes then how much tax I have to pay. I have heard that recently the court has given a judgment that under redevelopment rent or any compensation paid by developer is not taxable, please clarify.

Ans: Yes matter is still litigative. There are certain Judgments in which it was held that Compensation paid by builder during redevelopment of flats is capital receipt and not taxable. Considering amount of compensation you have received and cost of litigation, in my view, you should offer the said compensation to tax as Income from other sources which will taxed at slab rate.

Mihir Tanna |1019 Answers |Ask -Follow

Tax Expert - Answered on Jul 21, 2023

Question by SUHAS - Jul 21, 2023Hindi

Money

I have got rent of Rs. 22000 less 10% tds Rs. 2200 as rent per month and Rs. 18000 per month as Development hardship compensation from developer against by redevelopment project, Recently i have purchased a new house and paying EMI, Please confirm if Rent and DHC received is taxable or not, recently Supreme court has given judgement that both are non taxable eventhough the rent received in not utilised for paying rent.

Ans: Yes, rent and DHC being capital receipt can be considered as not taxable. However, matter can be subject to litigation.

Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on Jun 17, 2024

Question by Masoom - Jun 14, 2024Hindi

Money

Dear Sir I have received 4 flats from Developer in exchange of giving our house for redevelopment. Now I want to sell one of my flat which according to deal will 51 lakhs. The purchaser is only able to give me 6 lakhs in cash & rest 45 lakhs he will arrange in loan from bank. hence kindly advise me will the amount I receive be taxable. Also note as we have received my flats against redevelopment there is no valuation mentioned on Registration papers. Kindly advise will I have to pay tax on 45 lakhs

Ans: The cost of your house prior to redevelopment will be split in the proportion that you have received 4 flats and thereafter cost will be arrived and then indexation will be applicable accordingly which will inflate your costs. Will require the details of when the flat was bought and at what rate to answer in detail.

Please reach out to your CA as well before moving ahead.

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Milind Vadjikar |1063 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Feb 27, 2025

Asked by Anonymous - Feb 26, 2025Hindi

Can we buy shares now? Which are low priced shares which I can buy without much risk of downside in this market? Can I accumulate shares like Apollo micro Industry, Bliss Pharma,Tata Steel, Jio Finance at the prevailing rates?

Ans: Hello;

Nobody can predict market bottom however if you have a system in place to increase bets in your high conviction stocks at every major fall, it should help.

In an era of innovative disruption be very careful of the stocks you select on your own.

Do a thorough research on your identified stocks or seek help from a sebi registered research analyst else invest in mutual funds systematically in line with your time horizon and risk appetite.

I am not convinced about the future prospects of the stocks you referred for medium term.

Best wishes;

Milind Vadjikar |1063 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Feb 27, 2025

Asked by Anonymous - Feb 23, 2025Hindi

I am 57 yr old family man with my wife and a son. I worked in MNC and left job 10yrs ago. I lostot of money in business. l had to sell a property to give payment for loan taken. I have taken a job now to run the family. My son is still not settled yet. In search of PhD course. I have a rental property to run my family. I feel help less sometimes. Still have some loan to repay. Job is not secure..

Ans: Hello;

Maybe you should convince your kid to take up a job and do phd simultaneously by explaining your financial situation.

Don't repent over whatever has happened but you need to stay firm and strong.

People should always keep in mind that business is business afterall and it may fail due to whatever reasons so while planning business entry keep some corpus separate which will keep kitchen fire burning irrespective of business failure.

Remember KFC founder Colonel Sanders after failing in his personal and professional life, struck gold with idea of KFC at ripe age of 62 and was a multimillionaire by the time he retired(~73).

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Anu Krishna |1537 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Feb 27, 2025

Asked by Anonymous - Feb 15, 2025Hindi

Dear Anu, I am a highly introvert girl with no friends and is preparing for a tough competitive exam. I love a guy and was dating him for 5 years. Due to our diametrically opposite career choices, uncertain future, and for 2 years long distance, he broke up with me. We talked about reconciliation in future if things turned out in our favour. But I feel he is indifferent regarding the breakup as he went to Goa just after that. In frustration I texted a guy from my inbox who wanted to meet me. So I met him. He is good, intellectual and highly principled. We never formally asked each other to date but he was helping me out for my exams and we achieved many milestones together. But after some time I got introduced to his short temper and dominating behaviour which bothers me a lot and I talked about it many times with him. I cry every single day (it's been 5 months now) since I broke up. Met a new guy I don't really love but he has done a lot for me so I don't want to hurt him. I am facing this mental turmoil whether to stay in this new relationship or should I wait for my ex to reconcile with me as I still love him a lot.

Ans: Dear Anonymous,
What you need is a good break away from relationships. Till you learn to appreciate yourself, no one else is going to!
You have just on a rebound gotten into another relationship and obviously when you are in a weak place, his dominant nature is going to be prominent.
Heart breaks are very difficult BUT before you process it, you have jumped into the arms of another. When I say, 'process', it means evaluating what went wrong and what was right in the previous relationship. This will help you in understanding what you want in a relationship and how to spot red flags in one.
That is why I keep stressing on: Heal from a relationship fully before jumping into another one.
So, at this point, you need a break from it all...you will be doing yourself a huge favor...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Milind Vadjikar |1063 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Feb 27, 2025

Question by Kishore - Feb 10, 2025Hindi

Money

I HAVE DEBT IN PERSONAL LOANS DUE TO SALARY & OTHER INCOME COULD NOT MANAGE EMI PLS GUIDE ME

Ans: Hello;

You may sale some of your asset to repay the loan.

Except home loan, no other loan is worth it except maybe education loan or some emergency.

Also make sure at NO time the total loan EMIs don't exceed 35-40% of your net monthly income.

Also make sure to have 6 months of regular monthly expenses as emergency fund.

You may seek help of family and friends to repay the loan and return back to them whenever feasible.

Check if restructuring of the loan is possible to lessen EMI burden but lengthen the repayment period.

If possible your spouse may take up some job till the loan is repaid.

While managing personal finances always keep in mind the age old saying, cut your cloth according to your size.

Best wishes;

Dr Nagarajan Jsk |271 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on Feb 27, 2025

Question by Shree - Feb 16, 2025Hindi

Career

I am a doctor I have completed mbbs and had got a md seat too but I had to quit due to my mother's health condition(she had multiple commorbidities)and being the first generation doctor in the family I had to look after her but due to dialysis n sepsis we lost her 6 months ago . Now I have my own OPD since 4 years tried giving exams 2 years ago but had lot of restrictions due to mom ...now the exam is in June I feel stuck I feel no energy to start all over again and going through the same counselling process and stress But I feel stuck being in my opd no career growth n want to do something more Help me plz

Ans: Hi Shree,

From your query, everything looks perfect. I admire your dedication, especially how you’ve sacrificed your education for your mom. Hats off to you!

Once you decide to pursue your PG, you’ll need to go through the necessary process. So don’t worry; you can complete the tasks in a short time. If you find yourself feeling stuck due to your work schedule and stress, I recommend trying to relax by doing the following:

- Practice meditation
- Hire freshers or interns on a part-time basis

These two steps should be sufficient to help you move forward.
Best of Luck.

Dr Shakeeb Ahmed Khan |142 Answers |Ask -Follow

Physiotherapist - Answered on Feb 27, 2025

Asked by Anonymous - Feb 11, 2025Hindi

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Mere kamar me bahot dard rahta hai kya karna chahiye

Ans: Hello Madam/ Sir. Please visit nearby Physiotherapist who will assess and evaluate you and provide you physiotherapy intervention through modalities and exercise.

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Physiotherapist - Answered on Feb 27, 2025

Asked by Anonymous - Feb 20, 2025Hindi

Dear expert, I have been experiencing pain and discomfort in my elbow, which I believe is due to tennis elbow. The pain worsens with certain movements, and it has started to affect my daily activities, especially at work. I would like to understand the best physiotherapy treatments and exercises to manage this condition. Are there any precautions I should take to prevent further strain? Any exercises that you would like to recommend? I am 41.

Ans: Dear Sir,

Thank you for your query. I would advise you not to self-diagnose and visit the nearest physiotherapist for a proper assessment, as several conditions can mimic tennis elbow. A physiotherapist will take your history, evaluate your symptoms, and provide an accurate diagnosis. If it is indeed tennis elbow, physiotherapy treatments like ultrasound therapy, soft tissue release, and stretching exercises can help reduce pain and promote healing. Strengthening the wrist extensor muscles through controlled resistance exercises is crucial for long-term recovery. Additionally, avoiding repetitive strain, using proper ergonomics at work, and wearing an elbow brace can prevent further aggravation. Please consult a physiotherapist for a personalized treatment plan. I wish you quick recovery.

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Physiotherapist - Answered on Feb 27, 2025

Question by Dr. - Feb 24, 2025Hindi

Health

I am 54 years old with diabatic typ-2 for the past 15 years and taking the medicine regularly. Recently It is observed that my shoulder & thigh muscles are loosing their weights. Pls suggest in this regard.

Ans: Dear Sir, Thank you for your query. As you age, muscle loss (sarcopenia) is inevitable, especially with long-term type-2 diabetes. To slow this process and regain strength, focus on strength training with exercises like squats, lunges, deadlifts, and shoulder presses. Incorporating progressive resistance using weights or resistance bands will help maintain and build muscle. Adequate protein intake is crucial, aiming for 1.0-1.2g per kg of body weight daily from sources like eggs, fish, dairy, lentils, and nuts. Additionally, physiotherapy exercises focusing on mobility, flexibility, and balance can prevent stiffness and falls. Managing blood sugar levels is also essential, as uncontrolled diabetes can accelerate muscle loss, so monitor HbA1c regularly and maintain a protein and fiber-rich diet. With consistent strength training, proper nutrition, and good diabetes management, you can slow muscle loss and maintain overall strength.I suggest you visit your nearest physiotherapist for strength training . I wish you quick recovery.

Dr Nagarajan Jsk |271 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on Feb 27, 2025

Question by Jeeva - Feb 25, 2025Hindi

Career

My Niece was born in the USA and brought to India at the age of one month. She has been living and studying in India(TN) since then. She is a good student and expected to get 650+ in Neet. She is separated from her father and he is not supporting her studies financially. How do we get admission to TN Medical College under the Indian National quota? or let us know other Low-cost options.

Ans: Hi Jeeva,
Since your niece was born in the USA, why not try applying there? By birth, she should be a green card holder. As a green card holder, she can explore opportunities in the US, and she may also be eligible for scholarships.

Alternatively, you can consider her taking the NEET exam. Since you mentioned she is expected to score above 650, she should have a good chance of getting into medical colleges in Tamil Nadu. She can also look into other national entrance exams.

Dr Nagarajan Jsk |271 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on Feb 27, 2025

Asked by Anonymous - Feb 23, 2025Hindi

Career

I had applied as OBC NCL in NEET 2025 . But I did not get NCL certificate from the authority but got only caste certificate.. now what should I do ?

Ans: To qualify for the OBC NCL quota, you must provide an OBC-NCL certificate. Therefore, it is essential that you approach the relevant authority to obtain this certificate. If you have enough time before the deadline, you can apply for it now. However, if you're pressed for time, you can also apply later and present the certificate during the admission process.
While filling out the application form, make sure to include all necessary details and attach any relevant documents. If you overlook these steps, you might encounter the same issues again. Please strive to avoid such mistakes in the future.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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