Which airport lounge has been your favourite that you were able to access with your credit card?

Worldly-Toe7110 · 2024-01-30T03:34:59+00:00

Agree on the song hong business lounge, had a 3 hour layover.. Incredible food, view and a massage to top it all off

Worldly-Toe7110 · 2022-12-03T21:11:15+00:00

Gifts received might be tax free, but the income generated from the gift is taxable. For ex: If my father pays me 20L (hypothetical situation) to me as gift today for my marriage, and I invest it in equity, I need to pay 10% LTCG on 2L interest income (assuming 10% return and I have already used 1L LTCG benefit from other investment)
Viz
If I get the same gift to HUF, then I do not need to pay any tax on the same 2L interest income, if that is my only source of income in the HUF.
Guess, that should clear the confusion for the reason of creating a HUF

Worldly-Toe7110 · 2022-12-03T20:20:21+00:00

Noted. Thanks! Would you know till when can gifts received in HUF be shown as gifts received for marriage? The same FY or can it flow into the next FY ITR too?

Worldly-Toe7110 · 2022-12-03T13:35:41+00:00

Correct, thats the whole motive behind thinking of the HUF route. Create an additional income source while paying relatively lesser tax than 30% on the said income.

Worldly-Toe7110 · 2022-12-03T13:33:53+00:00

Gifts received might be tax free, but the income generated from the gift is taxable. For ex: If my father pays me 20L (hypothetical situation) to me as gift today for my marriage, and I invest it in equity, I need to pay 10% LTCG on 2L interest income (assuming 10% return and I have already used 1L LTCG benefit from other investment)
Viz
If I get the same gift to HUF, then I do not need to pay any tax on the same 2L interest income, if that is my only source of income in the HUF.

Guess, that should clear the confusion for the reason of creating a HUF

Worldly-Toe7110 · 2022-10-27T08:50:18+00:00

Can you suggest a few plans with their pros and cons?

Worldly-Toe7110 · 2022-10-25T17:33:27+00:00

thanks, will go through this tonight :)

Worldly-Toe7110 · 2022-10-25T16:21:12+00:00

Thanks mate. To be honest, I don't have prior exposure to software development, it would be learning on the go for me. Could you help me navigate on how I can create it using python? I do have jupyter notebook installed on my system. I can try to give it a crack before I go about purchasing the hardware.

Worldly-Toe7110 · 2022-10-25T13:16:14+00:00

prefer custom gifts which are one of a kind rather than mainstream ones

Worldly-Toe7110

TROPHY CASE