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Showing posts from December, 2021

What documents should we check before buying any land or building?

Once you decide to buy a plot, make sure you have all documents in place. Without these, your purchase will be delayed. Having all the proper legal documentation will help protect your land and home from any disputes in the future. Consult a lawyer to help you with every step of the documentation process. Most of the required documents can be grouped into two types - legal and personal. Legal documents: These documents are essential, and missing even one of these can result in a delay in purchase. They include: - Mother Deed:  This is taken from the seller. The Mother Deed is the main document to determine ownership of the property. It traces the land’s chain of ownership and provides information about the history of the plot. Sales Deed:  The Sales Deed records the transfer of land ownership from the seller to the buyer. You can get it validated at the sub-registrar's office. Power of Attorney(POA):  If the seller of the land is not the owner, they should have a Power of Attorney

Income Tax Return (ITR) for Future & Option (F&O) Traders

CA Assisted Income Tax Return filing for Individuals and HUFs having income from F&O/ Derivatives Trading. Plan Includes Review of  F&O/ Derivatives Trading Statement  from  Single Investment / Demat Account . Review of Bank Statements Preparation of Profit & Loss Statemen t Preparation of Balance Sheet Review Brought Forward and Current Year Losses Income from Salary, House/Property, Capital Gains & other sources Filing Form-10IE to opt-in/opt-out for new tax regime Choosing a favorable option between the old tax regime and the new tax regime Chapter VI-A deductions - LIC, EPF, PPF, ELSS & other MFs, Medical, Principal on House property, etc. Determine Residential Status Documents Require PAN Aadhaar F&O Trading Statement Bank Statements Form 16 or 16A Investment Proofs Other supporting documents Who should Buy? Traders who have Single Investment / Demat Account. Self employed traders  having income or loss from F&O / Derivative trading Salaried individuals