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CA Rahul Khatuwala  

CA in Practice
9Year  8Month  experience

I am a Chartered Accountant with 4+ years of exp in Internal Audit and Core Finance of an major IT company in India and post that working as founder director for a Fin-tech E commerce company

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Address

26, Mittal E Commerce Pvt Ltd,
Bengaluru, Karnataka, India
Pin code - 560078

Availability

Mo,Tu,We,Th,Fr,Sa

8:30 am - 7:30 pm

Services

✔ Business Incorporation✔ Company Auditing
✔ Compliances✔ Financial Consulting and MIS
✔ Direct Taxation✔ Indirect Taxation
✔ Intellectual Property✔ Corporate Registration & Verification
✔ FEMA Compliances Consulting✔ Corporate Legal Consulting
✔ Internal Audit

Industry Experience
✔ Banking✔ IT & ITeS
✔ Manufacturing✔ Pharmaceuticals
✔ Real Estate✔ Services
Education
    B.com,CA
Associated with (Firm / Company Name)
    Mittal E Commerce Pvt Ltd
Awards and Recognitions

R

Ravi Panjwani

1 a year ago

Sub: TDS on sale of property.
We are the buyer and we have bought property through home loan. Date of payment of check is scheduled 3rd Feb. 2018.
What should be ideally the date of payment and date of deduction in Form 26QB.
Regards

CA Rahul Khatuwala     1 Feb 2018

Date of payment: 3'rd Feb
Date of deduction: Date on which you paid TDS to government
Note that 26 QB must be done within 7 days from the end of the Feb month

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M

Manu Mewari

1 a year ago

Hello, I had purchased a flat in July 2012 for 35 lakh rupees (plus approx 2 lakhs for stamp duty & registry). I had sold the flat in september 2017 for 49 lakh rupees. Do i have to invest whole profit in another property? Could you tell me if i do not want to buy a new property, how much tax i would have to pay as long term capital gain tax?

CA Rahul Khatuwala     1 Feb 2018

1) You have to invest the gain amount (49-35 = 14)
2) Approx tax amount : 2.8 Lakhs

Full calculation can be shared on consultation !

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P

Prashanth Lalan

1 a year ago

What are the procedures to repatriate funds from an NRO Account to a Foreign Bank specifically when such funds are derived from a short term bitcoin trade in an Indian cryptocurrency exchange?

CA Rahul Khatuwala     27 Jan 2018

Crypto currency trading income or sale proceeds is not recognized by RBI and FEMA till now.There is a committee formed by government to understand crypto currency post which a new law will be formed. So i believe that the procedure to repatriate money is not yet formed.

You may have to pay STCG tax if currency holding was less than a year.

However you may check with your bank if they are allowing to repatriate crypto income from NRO A/c.

T&C apply

1 a year ago

I am an Indian individual, selling online courses on Udemy, a USA based online learning company. I am planning to receive my monthly earnings from Udemy.com (in Dollars) to my Paypal account. The Paypal will convert $ to INR and send the money to my local bank account in INR.

My question is:-

1) Do I need to receive the fund from PayPal to the Current account or Savings account will work?

2) Whether the income earned from Abroad (USA - Udemy) is taxable in India?

3) Whatever money I receive in my Indian Bank account, Do I need to pay tax on it to the Indian Government?

4) I am just an Individual person and working alone from home, then whether it is considered as a business or a freelancing work?

Please answer question wise, one by one.

Thanks & Regards

CA Rahul Khatuwala     27 Jan 2018

1) Current account
2) Yes
3) Yes
4) Freelancing work

    19 Mar 2018

Thank You Sir

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P

Pulkit Shukla

1 a year ago

Hi,
I have been trading in cryptocurrencies like Bitcoin, Ethereum, etc on foreign exchanges. I read it somewhere this is a violation of FEMA Act, is it true?

CA Rahul Khatuwala     15 Jan 2018

Can be true cannot be true!

As of now even the government is not clear. They have to first decide what is cryptocurrency's: whether it is a currency or an investment or will be treated as goods/services.

For example: if it is treated as investment then person dealing in that has to pay capital gain tax. if it is treated as goods/services then have to pay GST

In your case: Trading in foreign exchange: if they say yes it is a currency then it will be violation of FEMA

To conclude: Let the government decide the nature of transaction, only then the violation of law can be decided. Also till date there is direct law on cryptocurrencies in India.

CA Rahul Khatuwala     15 Jan 2018

*no direct law on cryptocurrencies in India.

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R

Rahul Alapati

1 a year ago

Dear sir,
I am an NRI. I do not have much taxable income in India. I have some NRI FDs and savings account interest and investment in the stock market as a long-term investor. Till now I didn't get the need to file income tax returns. I thought of selling some stocks which were held by me for more than a year. Do I need to pay any tax on the profits and do I need to file returns? I prefer not to file returns at this juncture but continue to book profits and reinvest. Am I answerable to any queries from the tax department in future?

CA Rahul Khatuwala     8 Jan 2018

NRIs can invest in Indian Markets subject to restrictions, further the investment has to be done only via a NRE account and with a Portfolio Investment scheme.

1) Stock holding more than a year: No Tax
Less than a year: 15 % flat (Broker will deduct TDS and pay)
2) IT returns not required if NRIs have only share trading Income

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A

Arun Gautam

2 a year ago

I got my company registered as A Pvt. limited in Delhi. I'm a resident of Ghaziabad so I borrowed the address from someone in Delhi who took some money and gave me documents. After filing in ROC he refused to give me Utility bill.
Now I have to open Current Account for the same.
My question is can the address be changed? If yes, so is it necessary that the new address should of Delhi? or can I use the address of my house that is in Indirapuram or noida's address?

Thanks in advance

CA Rahul Khatuwala     25 Sep 2017

Hi, Its not necessary to have the new address of Delhi, You can use yout Noida's address.

Arun Gautam    5 Oct 2017

can you get it changed? will the ROC will be still Delhi if we use Ghaziabad address? can we talk?

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C

Chirag R

2 a year ago

I am planning to start a B2C e-commerce business in India by importing mobile accessories from China. The exporter of goods, Chinese national, is also the 100% investor, i.e by providing the goods without charging for it. After sales in B2C I have to remit outwards to Chinese. Is this inventory based model of e-com allowed ? Ministry of Commerce, Press Note No 3, 2016 says NO. Kindly advise.

CA Rahul Khatuwala     24 Aug 2017

This is not allowed as per the FDI guidelines on ecommerce, Its allowed in marketplace model.

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R

Ravi Mittal

2 a year ago

We have a merchant account with Apple/iOS. When someone makes payment on our app in iPhone/iPad, the payment is collected by Apple and then after deducting tax and their commission, they pay the rest of the amount to us.

However, now under GST, Apple is refusing to take our GST no. and have said that all GST payments will be done from their end only. Example, customer pays Rs. 1000 via credit card to Apple. Rs. 152 is deducted as GST and remaining Rs. 848 will be paid to us. So, Apple will pay this Rs. 152 to Indian govt. but will not include our GST no. when paying this.

Doing so, this is a confusion for us since we cannot directly claim that the GST has been paid by Apple and Govt would want us to pay GST on Rs. 1000, resulting in Rs. 152 additional payment, if required by govt to pay.

Also, there are only basic statements available from Apple which only show how much amount they will pay us. There is no mention of GST/TAX deduction anywhere.

How can we ensure that we dont pay GST again when it was already deducted by Apple? Is there a provision under reverse mechanism for such transaction? If yes, please explain how to treat these transactions/sales?

CA Rahul Khatuwala     24 Aug 2017

If an e-commerce operator supplies services then reverse charge will be applicable to the e-commerce operator. He will be liable to pay GST.

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N

Nitin Kedia

2 a year ago

Hi. We are a startup incorporated on 16.06.2015. We are an online portal for bulk exports of products from India by the name of www.ostabay.com.
We are looking to register ourselves under the Start Up India Scheme. Looking for someone who can help us do that.
Looking forward to your replies.
Regards.

CA Rahul Khatuwala     23 Jun 2017

Hi, You can contact CA Ankit Rungta, he will connect you to the right incubators office
https://www.finaco.in/ca_listing_profile.php?userprofile=finaco_ca_1492270903

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