Income Tax Queries Answered by Expert

People asked an expert named T S Khurana about income tax.

One person wanted to know if they have to pay tax when moving money from one investment to another.

The expert said yes, they would have to pay tax on the profit.

Another person asked about getting details of GST paid by their contractor.

The expert advised getting a proper invoice and making payments through banking channels.

Someone else asked if they can claim both house rent allowance (HRA) and home loan benefits if they own a flat in another city.

The expert said yes, they can claim both if they declare the rental income.

Another person asked about tax on selling a commercial plot.

The expert said the tax would be less after considering indexation.

Lastly, someone asked about returning money from selling shares to their son-in-law.

The expert said gifting money to a daughter or her spouse is exempt from tax.