Hello Mr Sridhar,
I am a retired senior citizen, living in an apartment in Bangalore.The apartment is registered under society act and has a PAN number also.
The apartment has an indeterminate association with a managing committee of 3 members of which I am one member.
The apartment has interest income from the savings account and FD ( Nationalized Bank) created under mutual contribution...
First of all .. I would like to thank you all for making everyone aware of financial knowledge and answering queries and helping all of us.
Let me start with my query about Short term capital gain tax, I have booked a flat in Jan 2013 by paying 10% amount of flat. Then Registration completed in Jan 2014 and Possession letter was given in Dec 2014. I have taken a home loan for the purchase a...
My situation is as below:
-- I came to USA in Nov 2013, since then I have not visited India (as of today July 2016), my company also filed form 30C for me, I have the acknowledgement, but the expected time to stay abroad was mentioned as 1year.
-- For in year 2014 july, my company filed tax return in India for me, but did not show the foreign income.
-- In 2015 I got some TDS deductions a...
Dear Sirs,
My name is Karim, I'm the owner of Russian company.
I want to:
- export fly ash from Indian supplier to customers in Asia;
- resell fly ash from Indian supplier to Indian customers.
Please give me an advice on how to establish this business.
RE: Exporting of fly ash from Indian supplier to customers in Asia
1. Legal jurisdiction.
Do I have to setup a subsidiary in India, jo...
Hello,
i have a question regarding partnership return filing. Let me tell you the situation.
ABC is a partnership business having turnover of 18,30,000/-
Gross profit is 6,04,077/-
Expenses 2,76,108/-
Int on capital 80,310/-
Profit before partners remuneration 2,47,659/-
Partners remuneration is 2,22,000/-
Net profit after partner's remuneration is 25,659/-
No books of accounts a...
Dear Sir,
I am employed in abroad.
During free times, I tried searching opurtunities giving HR service to companies. I have emailed to many companies asking opurtunities for HR services and I could get many orders also.
Then, I asked my friend india to register a company and get bank account. He registered one company (as he is the sole proprietor) and got TAN no & bank account etc.. I ask...
Hi,
Recently I received a notice from Income Tax department, which said since I did not file the return in FY 2012-13 so i need to fill compliance options on their website.
My details of FY 2012-13 are as follows:
1. Salary of from Feb 2013-March 2013(since I joined in Feb 2013 only) Rs 20,000
2. Loss from Intraday equity stock trading Rs. (8,000)
3. Loss of short term capital by sho...
Hi,
I have a question regarding the laws concerning taxes and regulations regarding processing a payment.
I am the administrator of a platform enabling two sides: the provider willing to provide and the client in need of a service. The provider can set a price for the service in which case we take a certain procentage as a commission for enabling this user to make money through our platform...
Dear Sir,
We (me and my wife as co-applicant means 50:50 ownership) have booked an apartment of Total value Rs 1,40,00,000 from a Builder. We are NRI and my wife is a housewife . We have NRE/NRO joint account from which the booking amount is paid and rest of the amount will be also paid from our joint account. As per our understanding, each of us has to file 26QB form separately. My question...
Well, as my friend is from a small town where women don't really go to banks so his mother had a part of his father's salary every month and she saved it at home. 2 years back they got transferred in Mumbai and because they were going to need that money so she put that in her new account in Mumbai (but without pan card because there wasn't any big transactions and all). So now because she had t...
how i calculated Salary arrears for AY 2016 -17.... and Need form Form 10 E because my employer did not provide Form 10 E and i provide you info abt my Income below.
Information :-
Salary Arrears slip April 2013 to Dec -2015
Earnings :-
Basic 83140
DA 94672
**Diff. in DA (1067*24) 31080
HRA 25655
CCA 3956
Vehicle allow 79123
Professional allow 29671
Medical allow 2909
Overtime ...
Dear Sir/Madam,
This is w.r.t my income tax for the assessment year 2012-13. I got a notification in the income tax online portal about outstanding demand of around 40,000.00 and I contacted a CA for this. He told me that since the IT returns filed hadn't considered 'deductions under chapter VI-A', it was showing this demand. Hence we filed a revised return in October 2013. However, I am sti...
Hi, I have one very urgent query:
I live in India and my brother lives in Canada and is a Permanent resident over there.
We have to transfer him some funds abroad roughly Rs. 50 lac in a day or two.
These funds are required to buy a house over there on his name.
I have some fixed deposits on my name which are getting matured in July end.
This money was gifted to me by my mother 1.5 years b...
Sir, June 1 2016
I Want to know your opinion in the light of the following facts in a case as under :-
M/s ABC ltd requested M/s XYZ a Firm of Chartered Accountant practicing in Delhi to conduct audit of their some of the Branches in Rajasthan.The request of M/s ABC ltd was accepted by M/s XYZ (CA) and confirmed in writing to them. M/s XYZ deputed three persons to proceed for the purpose.The ...
Dear Sirs'
This property was on Power of Attorney in the name of My Wife. Sale agreement entered during the year of 2001 and full amount.
Whereas registration and stamp duty paid on March-2015.And Registar has consider 90L valuation for stamp duty But actually there is no cash transaction in entire deal
But email received from CPC to pay the TDS. When inquired with CPC Received below mail.Pl...
Hi,
I stayed abroad for more than 260 days in last financial year. Being my company is an Indian IT company, and I travelled on business VISA not on work permit, so I received my Indian Salary in India and company paid my allowance in USD dollar (Axis Bank dollar account) to managed my overseas expenses.
Points to remember:
1. I was on Business VISA not on Work permit in last financial...
Hi,
We (Magus) become partner of a UK Firm (HarePoint). This company develops software and sell it across the world through local partners.
Q1: Taxes : http://taxguru.in/goods-and-service-tax/taxability-software-present-indirect-tax-laws-proposed-gst-examples-india.html
Scroll down to section : Examples explaining comparison between current tax regime and proposed GST: Our scenario is...
I am working as service class and taxpayer. I have my website.
Case 1: its my website and I sell products online
Case 2 : vendors come on my website and they sell their products.
2(a) : I take commission from vendors
2(b) : I do NOT take commission from vendors
Case 3 : I have links on my website and people visit my site and are redirected to the vendor site. There is a possibility that ...
Dear Sir,
March 2010: I purchased an under construction property & registration was done in march 2010. At the time of registration appx 35% of flat cost had already been paid to builder.
Till September 2012: appx 90% flat cost had been paid to builder.
Due to delays etc Flat was handed over to me only in Dec 2015 ( ie .more than 3 years after 90% payment was made).
Balance to be paid...
From United States Liberty, MO
Ok so, last year I was in some debt because of back rent and my fiancé and I had a loan and we also owed a lot to our electric. My finances mother, her boyfriend. He has two girls, and we all agreed, that it would be a good idea for me to claim them since they did stay with my finances and I, on and off, when we were taking care of them.
So I claimed the ch...