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CA Loveseema Sharma  

CA in Practice
9Year  10Month  experience

NA

  
   
 
No more records

Address

C-109, 110
Delhi
Pin code - NA

Availability

Mo,Tu,We,Th,Fr

9:30 am - 5:30 pm

Services

✔ Business Incorporation✔ Accounting / Book keeping
✔ Company Auditing✔ Compliances
✔ Financial Consulting and MIS✔ Direct Taxation
✔ Indirect Taxation✔ Business Tax Planning and Management
✔ Internal Audit✔ GST

Industry Experience
✔ Gems and Jewellery✔ Manufacturing
✔ Media and Entertainment✔ Pharmaceuticals
✔ Tourism and Hospitality
Education
    B.com (Hons),CA
Associated with (Firm / Company Name)
    m/s s. s. kukreja& associates
Awards and Recognitions
    NA

V

Venkatashiva Avula

1 Months ago

I know LTCG tax for a financial year is 10% on returns more than 1lakh. Here my doubt is if I invested 10,000 for 20 years then if the current value is 10,00,000 if I sold those at this value do I need to pay 10% tax for 8,90,000?

Or need to pay tax only if difference between previous year portfolio and current year portfolio value(means one financial year returns) is more than 1kakhs.

CA Jaya Agarwal     8 Sep 2020

No...not at all. capital gains are arrived after indexing the purchase price of the investment.Rs. 10000 will be indexed @ 100(for 20 yrs before) and after indexation its indexed cost will be 10000x100= 1000000 i.e.10lacs. Now selling price is Rs.10 lacs. hence no LTCG arises. For any further consultation call at 7667559772

CA Rakshit Jain     8 Sep 2020

call on 9587334442 to discuss your issue.

CA Loveseema Sharma     9 Sep 2020

there is a proper procedure to calculate LTCG which only an expert can do. we need more details to calculate proper tax.

CA Naman Maloo     13 Sep 2020

Its a complex calculation.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

T&C apply

N

Neha Dubey

1 Months ago

If the Annual pay is in the top tier (above INR 15,00,000), should the person be considered an employee or a consultant? What will be the tax slab difference between an employee and a consultant?

CA Jaya Agarwal     8 Sep 2020

No, If salary goes above 15 lacs, it does not mean that you are a consultant. you can continue with salary income. No difference in tax slab for employee and consultant but method of calculating taxable income will be different. For any further consultation call at 7667559772

CA Rakshit Jain     8 Sep 2020

call on 9587334442 to discuss your issue.

CA Loveseema Sharma     9 Sep 2020

Mam,
First of all, every employee cannot be treated as a consultant. A person who is providing some kind of professional service can be treated as a consultant.

T&C apply

M

Mohit Singh

10 Months ago

I used to send remittance out of india each month about 35k rupees to my friend for support..using online site .. is there any issue regarding income tax department or fera?

CA Yash Jain     30 Dec 2019

Income tax does not have any issue subject to in case if payment is related to business,however ensure that your remittance is covered under "LRS".

CA Loveseema Sharma     3 Jan 2020

No issue from Income tax department. Regarding Fera, please check the following link. https://m.rbi.org.in/Scripts/FAQView.aspx?Id=115#Q1
please read it in detail and check that you are not covered in the prohibited items.

T&C apply

S

Shubham Mukherjee

10 Months ago

I have missed some sale invoice of 2017 during filing return so can i file return of this invoice in current month.. Please help me out... I asked my CA she said their is no revise option we cannot submit 2017 invoice in current month.. Is their any other option so i can file return for 2017 invoice.
Thanking you,
Shubham Mukherjee

CA Yash Jain     30 Dec 2019

In case a sale invoice has been missed out in GST, would better advise to disclose it in GSTR-9 pay tax via DRC-03 and close.

CA Richa Agarwal     2 Jan 2020

Only in annual return for the period

CA Loveseema Sharma     3 Jan 2020

You can include it in the annual return to be filed for year 2017. If already filed, then i think nothing can be done.

CA Abhinandan Jain     31 May 2020

1. If you missed the invoice for 2017, I would suggest you make the payment to govt by filing DRC 03.
2. If this sales was made to b2b customer then he will not get credit of this even after you making a payment because you have filed your returns for 2017-18.

T&C apply

M

Manish

10 Months ago

In joint holding of equity shares where both holders are non working who has to pay the LTCG? Can these gains be offset against any exemptions?

CA Loveseema Sharma     3 Jan 2020

Both holders have to laible to pay LTCG proportionate to their holding percentage.

Manish     3 Jan 2020

If I understand correctly it will be 50% for each from the total LTCG. Which can be again offset against 2.5 Lakh tax free income?

CA Loveseema Sharma     3 Jan 2020

yes, if you are 50% holders and you can claim basic exemption of 2.5 lakh.

CA Rakshit Jain     8 Jan 2020

LTCG liablity will be proportinate to the percentage of holding of such share. Suppose you hold 50 percent shares of the total, then LTCG on you will be 50 percent.

T&C apply

M

Maaz Ahmed

10 Months ago

Hi
I am undertaking a construction project.
What are the benefits if I take this as a company rather than an individual.
Especially in terms of tax credits.
I am a salaried employee.

CA Richa Agarwal     2 Jan 2020

Call me at 8906860881

CA Loveseema Sharma     3 Jan 2020

A lot more information is needed to decide your query. for example, the amount involved, what kind of construction project it is, etc.

CA Rakshit Jain     8 Jan 2020

Corporate tax rate is low as compared to the highest tax slab rate for individuals. There are other benefits also but that may differ from case to case.

T&C apply

S

Sahil

10 Months ago

Hi , please help me. I live in a flat shared by 3 tenants including me . The annual share of my rent exceeds Rs 100000 , so the landlord gave me PAN number and PAN copy . But the rent of every month is transferred to the son of Landlord. Is there any problem in claiming HRA in this situation. If there is any problem , then please suggest me solution .

CA Loveseema Sharma     3 Jan 2020

You need to assure that you have
1) The Pan Number and copy of PAN of the person to whom you are paying rent (i.e. son's PAN) .
2) Rent Receipt issued and signed by his son .
If you have both things and your bank statement as proof of payment from your account.
There won't be any trouble at your end.

CA Rakshit Jain     8 Jan 2020

I think there is no problem if the rent is transfered to the son of landlord. The necessary thing is you have PAN, rent agreement and rent receipt with you from the landlord (signed and attested)

T&C apply
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