Hi
I am selling knowledge videos online which i get these made from my husband. Assume my income from sale (Turnover) for FY 2015-16 is 4 Lac & for FY 2016-17 is 6 Lac which directly comes into my joint bank Account (my & My husbands JBA) .(I have no other income).
Can i File a return (ITR4S) under section 44AD (as Presumptive Income) Can i show 8% of T/O as my income (without having to ma...
I have a continuous employemnt for more than 5years as per my UAN . Hence in my current company i applied for the PD transfer from my previous organisation and the same was approved and submitted to EPFO portal in Nov-2016.Later the PF website went down and i couldn't check my transfer status.
In the mean time i resigned from my current organisation and applied for PF withdrawal. I expected as...
Hello Folks,
I am in a very serious confusion regarding multiple things, So I'd try to elaborate as much as possible:
I have three major sources of income:
1. full-time job in a company (monthly salary)
2. part-time freelancing (inflow on regular basis)
3. part-time from another company (monthly salary)
From #1, I make around 1.5L per month
From #2, I make around 1.2L per month (on...
Sir / Ma'am,
kindly help me to understand the following.
i want to publish a puzzle book [authored by myself] and sell it to the end user directly [by myself].
the expected turn over is hardly 5 lakhs per annum which is not applicable in GST.
1, for starting as small proprietorship firm, which are the registrations i need to take?
2. is commercial space mandatory for this business OR can i...
Dear Sir/Madam,
My name is Tatyana and I represent Law&Trust International company. We are interested in your consultation in respect of new Indian taxes and regulations (GST, GAAR). We have an Indian resident company and interested in legal way to minimize taxes. We consider UAE company to buy Indian company in order to pay 5% dividend tax and also involve Cyprus company in order to buy pro...
Fact }my mother had two Plots. Plot A purchased in aug,2012 for 534500 and Plot B purchased in dec,2012 for 577800. She sold the plot A for 14 lac in Dec,2016 & sold Plot B for 7.25 lac in Jan,2017. further a new residential house was purchased for 16.5 lac in march 2017 & amount of rs 220000 is invested in NHAI bond in march 2017. we do not have any other residential house other than newly pur...
Hi,
I worked as a professional/consultant in government sector for 10 months in the last financial year, which didn't included any allowances like HRA and others, but only consilidated salary/professional fee.
Now I want to claim deduction for
1. House rent, which is 81000/-;
2. medical allowance, which is 15000/-;
3. Vehicle Maitainance which is 60000/-;
4. Conveyance/transpor...
Hello, Good Evening Sir,
I'm Jinal Vora from kolkata, west bengal,
I'm currently pursuing B.com(Hons).
Firstly i would like to Thank You for helping your clinets by all means and giving your time to them.
Sir as you know GST has been implemented and Tax System has fully been changed.. and people like Students,Employees,Agent(Brokerage/Commission) has doubts regarding this GST , that ho...
Hi,
From Last Financial Year (2016-17) I became a NRI.
When I was a resident Indian I have opened multiple savings account in my name and in my spouse name. In both our accounts our names are included as the second holder and we operate as E or S. Now my query here is can I continue with my Domestic Savings A/c with my spouse (She is a Resident Indian) as a second holder. I do get Rental ...
I have a unique scenario to deal with, please advice. (Incidents in financial year 2016-2017).
- Mr. X resigned the job from ABC company and joined XYZ company
- XYZ company had an option to no to opt for PF, so Mr. X decided to maintain his own PPF, thus applied for a PF withdrawal
- PF withdrawal processed successfully, He received an amount of INR 2,70,000 (Three Lakhs) after deducting t...
I need information. Information to do things from today to the day of my my first tax-payment.
I am confused. I don't even know that I should know. So, here's some.
I am a freelancer. I design logos mostly. Most of my clients are from United States, UK etc. I get paid to via PayPal. I need to know how much tax should I pay? when should I pay? where(website)? how much(%)?
I make 20,000 ...
sir, I am in coal transport business. My monthly profit is around 80000 and t i have emi of 26000 for my truck. sir let me tell you my business scenario i buy coal from company about 70k-80k for about 20 ton coal. Then i sell it to the bricks plant at the same amount i purchased and i got only fare about Rs 1300 per ton i.e 1300*20=26000. I spend 11000 for diesel and toll tax, driver xpenditure...
I am Coal Trader not a transporter. I purchase coal from Importer and I manage transporter to load coal from importer place. And then Transporter unload it at my buyer place.
Now, Here Importer will charge 5% GST to me and Transporter will charge 18% GST as service to me.
For example,
Coal Value is 100000 + 5% GST = 105000 and Transport Charge is 10000+18% GST = 11800. Now My total Buy...
I have couple of questions around income from house property (w.e.f changes from 2017) and need your valuable advise.
Here is my question :
I have two flats on my name, For the 1st one home loan is closed and which is self-occupied where I am staying with my spouse and parents. 2nd flat is on rent for which SBI Maxgain home loan is going on. Since last year I am unable to take the tax benef...
We are a small property development limited company, trading 4 years. We usually build individual new build homes. We have bought a farmhouse which we are going to renovate and either sell or let. Our mortgage broker has found us a good deal but the mortgage company are asking us to create a new non-trading company to hold the property in. Can I set up a 'NEW' non-trading company and have the m...
I wish to start a One Person Co. (OPC) to buy and sell shirts/footwear/wrist watches etc as a small business. My questions are:
1. Can I trade in those goods only which I brought from TIN/VAT registered dealers/suppliers? Or I may sell goods bought from local/rural manufacturers/ flea market who do not have TIN no.?
2. Can I start manufacturing garments/ purses/ shoes without factory license/...
I got a notice giving me 5 days to furnish information of equity transaction of 5 Crores in 2013-2014 the notice is received in 2017-2018 financial year. On seeing my details I saw intraday trading with Axis direct and my intraday turnover for that year was total of 3 lakhs only of ledger statement and under Indian laws my trunover was 3 lakhs or less and my loss was 23029/- rupees for the enti...
I recently booked a 2BHK flat in Hyderabad Telangana. My registration is yet to be done. The total flat cost is ? 49,51,625. I have taken a home loan. The first disbursement has been released. I have raised a request for the final disbursement from the bank and have provided the builder a copy of the final cheque to start the registration process.
My builder had shared me the following appli...
I am a NRI and have bought an under construction apartment for the total cost of around Rs. 51 lakhs from a builder in 2014. I have paid multiple installments since 2014 without deducting TDS. Total amount of installments paid up till now is Rs 48 lakhs. The apartment is almost ready for possession and I am about to make the final payment and want to deduct the TDS now. I have the following que...
Intra-state
1. Mr. X purchased goods Rs. 1,00,000 locally (intrastate)
2. He sold them for Rs. 1,50,000 in the same state
3. He paid legal consultation fees Rs. 5,000
4. He purchased furniture for his office for Rs. 12,000
Assuming CGST @5% and SGST@5%
S.No Account Name Debit Credit
1 Purchase A/c 100000.00
Input CGST A/c 5000.00
Input SGST A/c 5000.00
To Creditors A/c...