Do you have income tax-related queries?
Please ask your questions HERE and rediffGURU Yogendra Arora founder of Y Arora Associates And Chartered Accountants, will answer them.
Manoj: Apart from 2 lakh from FD and SB interest, if I have short term capital gain in Mutual funds of 5 lakh then will i have to pay any tax?
Yes you have to pay tax on short term capital gain; being special tax rate income is not covered in rebate U/s 87A.
Anonymous: I have a 25-year-old flat which I want to sell and repay the loan I have taken for buying a plot. Will the capital gains be applicable in this scenario?
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.
Amit: Hello, I am a salaried individual posted in Gurgaon hailing from Mumbai. Can I claim HRA for both Gurgaon and Mumbai, as my daughter aged 19 is staying in Mumbai and I am paying rent for both the locations? My annual Basic is 17.8 lakh and HRA is 10.65 lakh.
Yes Income Tax department has allowed deduction of HRA for 2 eligible houses provided you should have proper records for validation like rent receipts, actual payment details etc.
And eligible amount of HRA calculation is based on your rent paid, basic salary, period of tenancy & location of houses.
Sudhakar: If my PF is not deducted after 58 years, then how will I get my PF and CTC amount?
If PF is not deducted from your salary then same will be credited to your account by your company in salary of the concerned month.
And for PF withdrawal you need to process the steps on the PF website (https://www.epfindia.gov.in/) with your UAN number.
Saif: Annual income of 30 lakh how much tax i have to pay under new regime?
For current financial year Rs 608,400 will be tax liability and for next financial year it will be reduced by Rs 85-90K approx.
- You can ask rediffGURU Yogendra Arora your questions HERE.
Disclaimer: This article is meant for information purposes only. This article and information do not constitute a distribution, an endorsement, an investment advice, an offer to buy or sell or the solicitation of an offer to buy or sell any securities/schemes or any other financial products/investment products mentioned in this QnA or an attempt to influence the opinion or behaviour of the investors/recipients.
Any use of the information/any investment and investment related decisions of the investors/recipients are at their sole discretion and risk. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Opinions expressed herein are subject to change without notice.
© 2025