Income tax for online coaching business

Sure sir you can you were not required to deduct TDS as salary was below taxable limit and your turnover is also below 1 crore.

Depreciation needs to be charged on laptop @40%.

Yes you can its a kind of advertising expense.

That would not be appropriate as you also leave there and you must be using a small part of it as your office.

Yes sir you can.

If you need any assistance with your tax matters or in future GST matters feel free to contact me.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you.

Hello,

1. Yes, you can deduct the salary expenditure. TDS deduction is not required in your case.

2. You will have to declare it as an Asset and claim depreciation at 40%.

3. Yes.

4. You won't be eligible to claim it in full since you use it for your personal purpose as well.

5. Yes.

I hope that this answer satisfies your requirements.

Regards,

CA Hunny Badlani

Hi,

1. Yes, your understanding is correct.

2. Declare as an assets and claim depreciation@40%.

3.Yes.

4.Yes, proportionate basis..

5.Yes.

Hi sir

u r not required to deduct TDS since it is below taxable limit.

As u have business of online classes then u can charge depreciation on laptop @40%

Yes it is an allowable expense.

U can do it but for that u have to prepare rent agreement plus we need to see on whose name that house belong

it is advisable that don’t show it as rent

Yes sir u can

Please rate 5 & provide ur valuable feedback so that I can improve in future

Hi

1. Yes, expense shall be allowed. No liability to deduct TDS in this case.

2. Depreciation shall be allowed @40%.

3. Yes.

4. It would depend on whether your house is owned or rented. A proportionate rent could be taken as expense for business purpose.

5. In my opinion, no.

1. It depends on threshold.

2. The threshold for special category states is 10 lacs: 

1. Arunachal Pradesh
2. Assam
3. Jammu & Kashmir
4. Manipur
5. Meghalaya
6. Mizoram
7. Nagaland
8. Sikkim
9. Tripura
10. Himachal Pradesh
11. Uttarakhand

3. For remaining States, it is 20 lacs.

4. It would be 10 lacs.

Hi sir

certain category of persons are required to compulsorily get registered under GST,that is person providing Inter state services

if u r providing services to other state then u need to get gst registeration

Please rate 5 & provide ur valuable feedback so that I can improve in future

1.No it's not. There's a notification which relaxes the need for compulsory registration of service provider in case of inter state supply.

2. Arunachal Pradesh, Assam, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Uttarakhand.

Other than above for all states the limit is 20 lakh.

So for Uttarakhand the limit is 10 lakh and hence you need to register for GST.

Both the above link are showing the same table but none of them have listed any notification the one mentioned by Taxguru doesn't provide any such relief for services.

Thus I would suggest you to register from 1st april in GST.

If you need assistance feel free to contact.

1. It depends on turnover.

2,3 & 4. Please go through the below link for complete reference:

.https://cleartax.in/s/gst-registration-limits-increased

Please go through the below link for complete reference:

.https://cleartax.in/s/gst-registration-limits-increased

1. No. It depends upon threshold.

2. The Special Category States include:

• Arunachal Pradesh
• Assam
• Jammu and Kashmir
• Manipur
• Meghalaya
• Mizoram
• Nagaland
• Sikkim
• Tripura
• Himachal Pradesh
• Uttarakhand

3. All other states except the special category states.

4. Rs. 10 Lakhs.

1. As the Gross salary is below the threshold limit of Rs.2.5 lacs resulting into non-deduction of TDS. You can claim the entire salary paid as an expense. As the amount of salary paid to the daughter in law is fluctuating each month which can be questionable. It is better to show some amount as fixed and other as variable as she is a part of sales department.

2. You can claim the laptop as an expense instead of a capital asset. As you are involved in online service in which use of laptop is directly related to the service provided. Max.dep. rate is 40%.

3. You can claim prize distribution as an expense.

4. If it is a rented property then you can claim it proportionately otherwise not. In case of electricity exp., you can claim it proportionately. Normal electricity bills of DISCOM is required.

5. Yes you can claim benefit u/s 44ADA. 

6. Turnover limit is Rs.20 lacs in case of Uttarakhand for GST registration. You can check the limit under Uttarakhand GST Amenment Act.

Yes, correct. Uttarakhand was excluded from special category states. Hence threshold in your case would be 20 lacs.

Ok