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CA Arti Jain  

CA in Practice
0Year  7Month  experience

Practicing Chartered Accountants in the field of in Direct Taxation, Goods and Service Tax, Individual and Corporate Litigation, Financial Audits , Accounting & Assurance Services.

100% (1 votes)   
   
 

Kevin James

7 Months ago
Visited For Direct Taxation

Received a prompt response to my question. Really appreciate her help. Will reach out definately in case of availing any other service. Thanks once again.

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Address

Pimpri Chichwad
Ravet
Pin code - 412101

Availability

Mo,Tu,We,Th,Fr,Sa

9:30 am - 9:00 pm

Services

✔ Business Incorporation✔ Fund Raising (Debt / Equity)
✔ Accounting / Book keeping✔ Company Auditing
✔ Compliances✔ Financial Consulting and MIS
✔ Direct Taxation✔ Indirect Taxation
✔ Personal Wealth Planning✔ Govt.Registrations and Licenses
✔ Corporate Legal Consulting✔ Business Tax Planning and Management
✔ Business Planning & Initiation✔ Internal Audit
✔ GST

Industry Experience
✔ Agriculture✔ Automobiles
✔ Banking✔ Cement
✔ Consumer Markets✔ Education and Training
✔ Engineering✔ Financial Services
✔ Gems and Jewellery✔ Healthcare
✔ Infrastructure✔ Insurance
✔ IT & ITeS✔ Manufacturing
✔ Media and Entertainment✔ Oil and Gas
✔ Pharmaceuticals✔ Real Estate
✔ Services✔ Textiles
✔ Tourism and Hospitality✔ Urban Market
Education
    B.com
Associated with (Firm / Company Name)
    NA
Awards and Recognitions
    NA

S

Shiva

6 Months ago

I owned a property in my name and want to sell the same and wants to purchase new one in my name and my wife be jointly can I do same

CA Naman Maloo     7 May 2020

Yes you can but to claim exemption in that property you'll have to invest the requisite amount.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Arti Jain     7 May 2020

Yes , You can sell the property and purchase new property your name and your wife's name.
If you are using your entire sale proceeds to buy a house property you may end up paying no tax on your gains when – You satisfy all these conditions
(a)Purchase one house within 1 year before the date of transfer or 2 years after that
(b) Construct one house within 3 years after the date of transfer
(c)You do not sell this house within 3 years of purchase or construction
When you satisfy these conditions and invest entire sale proceeds towards the new house – you won’t pay any tax on your gains. However, if you invest a portion of the sale proceeds, the exemption will be the proportion

Feel Free to contact me if you have any query. My Email ID is caartiajain@gmail.com

Shiva     7 May 2020

Can I purchase two property after selling one and can I purchase one property with mine and mye wife name and other one with only by my name
Looking for an early response

CA Arti Jain     8 May 2020

Yes u can but amount of the capital gain does not exceed two crore rupees, then You may have option to purchase two residential houses in India.
This option will get to person once in the lifetime i.e buying two property after sale of one.
Feel Free to contact me if you have any query. My Email ID is caartiajain@gmail.com

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D

Debashish

6 Months ago

Hi
I have accumulated money I got from selling land in my capital account, I know if I invest the same into properties I won't have any tax liabilities, since the market is down I am hesitant to invest it in properties now and instead put it in gold, please advice if I should go ahead and if yes what will be the tax implications? Thankyou

CA Arti Jain     6 May 2020

Following are some different option I can suggest you.

1.You Can invest amount in Capital Gain Account
You are allowed to deposit your gains in a PSU bank or other banks as per the Capital Gains Account Scheme, 1988. And in your return claim this as an exemption from your capital gains, you don’t have to pay tax on it. However, you must invest this money you have deposited within the period . If you fail to do so, your deposit shall be treated as capital gains.

2.To purchase Bond
What happens if you do not intend to purchase another property, there is no use of investing the amount in a Capital Gains Account Scheme. In such a case, you can still save the tax on your capital gains, by investing them in certain bonds. Bonds issued by the National Highway Authority of India (NHAI) or Rural Electrification Corporation (REC) have been specified for this purpose. These are redeemable after 5 years and must not be sold before the lapse of 5 years from the date of sale of the house property. You are allowed a period of 6 months to invest in these bonds – though to be able to claim this exemption, you will have to invest before the return filing date

3.If You are not investing in Bonds or In Capital Account then Following is your tax implication
"Gain on Long Term Capital Assets – From the total Sale Price of the asset deduct Indexed cost of acquisition, expenses directly to sale, cost of improvements.
Indexation is done by applying CII (cost inflation index). This increases your cost base (and lowers your gains) since the purchase price is adjusted for the impact of inflation."

Feel Free to contact me if you have any query. My Email ID is caartiajain@gmail.com

CA Naman Maloo     6 May 2020

You capital account means account opened under capital gain account scheme?
When did you sale the land?
By investing in gold wont help save taxes that's for sure but for what period do you wish to invest in gold?
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

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P

Puneet Jain

6 Months ago

A New NON AUDIT FIRM HAS been opened recently in the previous F.Y. Its First year of the firm and is to file ITR as per 44AD.
and additionally,Whether he can take loan in cash from a person?If yes,How much is the maximum amount in the absence of PAN CARD?
Cash sales & Cash Purchases are allowed upto a daily limit of which amount In case of 44AD. NON AUDIT FIRM.

CA Naman Maloo     5 May 2020

20000 limit for loan in cash and 200000 limit for cash sale and no limit for cash purchase under 44AD.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Arti Jain     5 May 2020

1.Amount of loan can accept in cash upto Rs 20000/-
2. Limit of Cash sales is two lakh rupees from
(a) in aggregate from a person in a day; or
(b) in respect of a single transaction.
3.There is no limit for cash purchase.
Feel Free to contact me if you have any query. My Email ID is caartiajain@gmail.com

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P

Puneet Jain

6 Months ago

A New NON AUDIT FIRM HAS TURNOVER OF 35lakh in F.Y. 2019-2020.Firm registered & establised in September only. Its First year of the firm and is to file ITR as per 44AD.
He paid commission of Rs.5Lakh during the year.
Whether he is liable to deduct the TDS on commission or not?
If yes,What was the last date of March'2020 to deposit TDS?
Then he has to file TDS return also or not?
Please tell the full detail.

and additionally,Whether he can take loan in cash from a person?If yes,How much is the maximum amount in the absence of PAN CARD?

CA Naman Maloo     5 May 2020

Yes if the amount paid to one person as commission exceed Rs. 15000 TDS needs to be deducted.
It was 30.04.2020 after that pay 0.75% interest per month from march 2020.
Obviously TDS return needs to be filed.
If you need full details its better if you hire a professional chartered accountant.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

CA Arti Jain     5 May 2020

1.You are require to deduct the TDS on commission
2.When To payment The Tax Deducted To The Government?
For March month TDS shall be deposited on or before 30″ April 2020 with interest 0.75% per month.
3.TDS Due Date of QTR-4 (ie Jan 2020- March 2020) for Return Filling is 31st May 2020
4.Amount of loan can accept in cash upto Rs 20000/-
Feel Free to contact me if you have any query. My Email ID is caartiajain@gmail.com

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R

Ramansh Bhardwaj

6 Months ago

Hi sir, I am student and have bought $5 fractional stock in US stock exchange through broker and don't have much knowledge about tax. I want to know that as don't file tax because I am unemployed but now I have $5 stock so how I have to file tax if I sell it? And If I don't sell it then does I need to disclose it? Please help me sir, I really need your help 🙏. Hope you will definitely help me. Thankyou.

CA Naman Maloo     2 May 2020

It's just $5 you don't have to file any tax even if you sell it you might earn 400-500? No need to file any return of show it anywhere.
The minimum income to file return is 2.5 lakh.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com

CA Arti Jain     3 May 2020

As per my opinion you are required to file income tax return.As per Income tax Return if A person who at any time during the previous year holds, as a beneficial owner or any asset located outside India
Then he requires to file income tax return
If You have any further queries then You can contact me on Email caartiajain@gmail.com

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A

Aby Abraham

6 Months ago

I have created GSTIN in 2018 for online business. I didn't make any sale so I was not filing monthly taxes. Now my GSTIN is cancelled and the due date to file pending returns are also over. How can I revoke my GST number? Please suggest me the right procedure.

CA Naman Maloo     2 May 2020

Technically if you wish to revoke it you'll have to file all the return with late fees which will be a huge amount and then you'll have to meet officer and ask him to revoke the number.
Secondly get a new number and start the business and if you get a notice then pay the fees.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com

CA Arti Jain     3 May 2020

1.All pending Returns are require furnish and any taxes due have been paid. Then the registered person has the option to apply for Revocation of Cancellation of registration within 30 days from the date of service of the cancellation order.
2.Otherwise will require to apply fresh Gst registration.

CA Arpit Khetan     4 May 2020

its better to obtain a new registration and start afresh ,You can contact on caarpitkhetan@gmail.com for registration

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V

Vamshi Reddy

6 Months ago

My gross salary decreased as my IT component doubled since this April. My organization tax department is blabbering something about prorating but I'm not satisfied with the answers. Can you help?

CA Naman Maloo     1 May 2020

If you need professional consultation you can mail me at canamanmaloo@gmail.com

CA Arti Jain     1 May 2020

Please tell what your queries are.
You can write here also.
Or Sir if want you can contact me on caartiajain@gmail.com.

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G

G.S.

6 Months ago

I want to ask for gst

CA Naman Maloo     30 Apr 2020

What is your query?
Do you need any professional assistance.
If yes you can mail me at canamanmaloo@gmail.com

CA Arti Jain     1 May 2020

Please tell what your queries are.
You can write here also.
Or Sir if want you can contact me on caartiajain@gmail.com.

T&C apply

K

Kevin James

7 Months ago

I was filling the form 26QB for TDS and had a query. The sellers are joint owners (husband and wife). Now while filling the form, I know I have to fill two forms, ie. 1 each for both joint owners. However while filling the form, what is the value I need to put under below fields?

Total Consideration:
Will the Total Value of Consideration be the full amount on both the forms or 50% in each form? Eg. If the value of property is 1cr, will Total Value of Consideration be 50 lakhs each on both forms or 1Cr in both forms??

Total Amount Paid:
Will the Total amount paid be 50% of 1 Cr for each of the 2 forms, i.e 50 lakhs and 50 lakhs? The amount is paid in lumpsum.

Rounding off the amount:

Lastly, there is no option in the below drop-down for paise as the amount is in decimal. The total value is 1cr and 1 rupee. Can I round it to 1cr 2 rupees so that the split will be 50laks and 1 rupee as there is no drop-down to select paise?


CA Naman Maloo     23 Apr 2020

I think you must take service of professional rather than along such a huge question on such platform you might get better response.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com

CA Arti Jain     23 Apr 2020

Total Consideration:
Will the Total Value of Consideration be the full amount on both the forms or 50% in each form? Eg. If the value of property is 1cr, will Total Value of Consideration be 50 lakhs each on both forms or 1Cr in both forms??
Ans: The Total Value of Cosideration will be Rs 1 cr in each form.

Total Amount Paid:
Will the Total amount paid be 50% of 1 Cr for each of the 2 forms, i.e 50 lakhs and 50 lakhs? The amount is paid in lumpsum.
Ans: Total Amount paid will be Rs 50 Lacs in each form

Rounding off the amount:

Lastly, there is no option in the below drop-down for paise as the amount is in decimal. The total value is 1cr and 1 rupee. Can I round it to 1cr 2 rupees so that the split will be 50laks and 1 rupee as there is no drop-down to select paise?
Ans: Please don’t make changes in the decimal. The form wont proceed further if changes are made.

Also remember you have to generate form 16B after making the payment.

Feel Free to contact me if you have any further query. My Email ID is caartiajain@gmail.com

Kevin James    23 Apr 2020

Thanks a lot Arti, I have sent you an email. Really appreciate your help.

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N

Narendra

7 Months ago

I want to know how do i put cash back in my app like 5% or 10%

CA Arti Jain     7 Apr 2020

Following is how to calculate cash back
Cash Back = Amount * Cash Back Percentage
Example
If your cash back percentage is 2% and your amount Rs2000 , you will get

Cash Back Amount = 2000 * 0.02 = Rs 40.
If you need any information then please ask the same.

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