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

[diosys]

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?

No there is no loan period limit....

12% should be adequate....

 

[diosys]

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.

no it would not be....

 

[TFL]

No there is no loan period limit....

12% should be adequate....

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]

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).

12% was the upper limit....it can any within it...but keep it constant throughout the year....

 

[TFL]

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]

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.

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....

 

[TFL]

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....

:rofl::rofl::rofl: Accumulate Ranbaxy and Jindal Steel and Power.

 

[jcb840]

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

 

[sanyad74]

Accumulate Ranbaxy and Jindal Steel and Power.

So TFL!
Is this for doisy only or anyone can take a note Ranbaxy went up already..

Anyway pharma sector is defensive sector always though..

In power, which one you track?

 

[TFL]

So TFL!
Is this for doisy only or anyone can take a note Ranbaxy went up already..

Anyway pharma sector is defensive sector always though..

In power, which one you track?

May be, but my personal views. Please don't take it as a tip.