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CA Yash Shah  

CA in Practice
15Year  1Month  experience

NA

100% (1 votes)   
   
 

PRADEEP MAHENDRA

26 Days ago
Visited For Internal Audit,HRA CLARIFICATION

Quick response. To the point reply. Excellent communication skill and knowledge. Nice and polite behavior.

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Address

NA
Mumbai
Pin code - NA

Availability

NA

NA - NA

Services

✔ Business Incorporation✔ Fund Raising (Debt / Equity)
✔ Accounting / Book keeping✔ Company Auditing
✔ Compliances✔ Financial Consulting and MIS
✔ Direct Taxation✔ Indirect Taxation
✔ Personal Wealth Planning✔ Payroll Management
✔ Corporate Restructuring✔ Business Planning & Initiation
✔ Financial Services / Funds Raising✔ GST

Industry Experience
✔ Banking✔ Financial Services
✔ IT & ITeS
Education
    B.com,CA,CFP
Associated with (Firm / Company Name)
    Y R S & CO
Awards and Recognitions
    Six Sigma Green Belt from BMGI

Y

Yogesh

4 Days ago

I got an SMS 'Dear taxpayer, Income tax Dept has received information about high value transactions relating to Bhupinder (XXXX) for FY 2018-19. However, as per records available, ITR for AY 2019-2020 is not been filed, please file FTR' Question - I have filed al my ITRs from year 2014 till date.. please help me, there are also no issues listed under e-campaign tab on CPC website, please tell me what should i do?

CA Yash Shah     27 Oct 2020

Hi Yogesh, please call on 7045760379. May be a hoax message

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P

Prasann Kumar

9 Days ago

For a salaried Employees who are falling in 30% Bracket, having FD's earning interest >40K per annum, while filing IT do i need to pay 30% tax earned interest on FD'S or only 10%

CA Yash Shah     21 Oct 2020

Hi Prasann, it will be 30%

CA Stuti Shah     21 Oct 2020

Hey prasann,

Tax slab would be applicable in general way like your income i.e 30% and not 10%.

Kindly contact us at castutishah@gmail.com or 9825330911 for any professional advise

CA Naman Maloo     25 Oct 2020

yes tax needs to be paid at slab rate. 10% is the TDS rate.

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D

Dhiraj Gupta

16 Days ago

My Employer had shown extra salary amount in form 16 and now he is revising my form 16 by removing extra amount but still previous amount is seen, please help to know why it is not showing corrected amount.

CA Yash Shah     14 Oct 2020

Hi Dhiraj, not clear where the amount is not correctly seen. Employer has to file the revised TDS return. Once it is done, it will reflect in 26AS

Dhiraj Gupta     14 Oct 2020

Hi Yash , Thanks for your reply
My employee has revised the Annexure 1 and Annexure 2 of conso file of quarter 4 but still the old amount is showing in form 26AS and form 16

CA Yash Shah     14 Oct 2020

Please call on 7045760379

Dhiraj Gupta     14 Oct 2020

okay sir

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C

Chandan Kumar

26 Days ago

I bought a flat in 2014 December and have still not claimed the interest in home loans as deduction as I have not got possession yet. The buildings are delayed and expected possession is 2021 June. When can I claim the same and can I claim for the previous years?

CA Yash Shah     4 Oct 2020

Hi, you can claim pre-construction interest only once you get possession and that too will get amortised for 5 years. Please connect on 7045760379 for further clarifications

CA Jaya Agarwal     5 Oct 2020

Dear Sir,
The income tax law provides for the claim of such interest also, called the pre-construction interest, as a deduction in five equal instalments starting from the year in which the property is acquired or construction is completed, over and above the deduction you are otherwise eligible to claim from your house property income. However, the maximum eligibility remains capped at Rs 2 lakh.
For more assistance call at 7667559772.

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P

Pradeep Mahendra

26 Days ago

At present I am working in a bank in Mumbai as a consultant who issues me F16 form but in Pay slip shows total payment as Personal allowance instead of salary structure like bifurcation as Basic Pay, HRA, DA etc...
Can I claim HRA vide any section. I have one residential property in my name at Jaipur which is not let out and locked there.
If yes what amount may I claim. My gross salary is 15 lac and Rent paid for previous F Y is 240000 . What about 80GG section.

CA Yash Shah     4 Oct 2020

I need few clarifications. Please connect on 7045760379

CA Jaya Agarwal     5 Oct 2020

Dear Sir,
First I need to know whether you are consultant or on employment basis. This will decide your income taxability. If you are consultant, TDS will be deducted @ 10% flat, without HRA benefits under head business and profession and there you can claim deduction for rent paid u/s 80GG
For more assistance call at 7667559772

CA Naman Maloo     9 Oct 2020

If your company is not paying you HRA how will you claim HRA that's the basic condition.
If you need any further assistance feel free to contact me at canamanmaloo@gmail.com

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S

Suraj Chaudhari

1 Months ago

I am owner of a residential building lives in Thane, Maharashtra. My question is - is there any option available for owner of a residential building to get monthly rent of tenants deducted from their salary directly by their company during this lockdown?

CA Vikram Kumar     29 Sep 2020

No Sir, company cannot get involved in the transaction unless it is a company-leased property.

CA Vikram Kumar
8697275626

CA Yash Shah     29 Sep 2020

Theoretically yes if an arrangement is made where the owner, employee and company get into a tripartite agreement. However, practically no company will agree to such kind of arrangement. Please note that this needs an opinion from a legal advisor, I am just expressing my opinion

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A

Abhishek

1 Months ago

Kindly answer my question
I invested 2 lakh rupees in stock market and made the transaction of 1 corer in it and bear the Loss of 50 thousand in it .
My accountant is suggesting me ither to declare 8 % profit of one corer transcation
Or
To do audit kindly suggest me what to do in it
How to show in ITR

CA Yash Shah     22 Sep 2020

Hi Abhishek, better to get audit done rather than declaring 8 Lakh profit when you have incurred a loss. You can connect on 7045760379

CA Vikram Kumar     23 Sep 2020

Hi Abhishek. This is a common query from many traders and investors. However, I will need further information on what you mean by 'made the transaction of 1 crore'. Because the law is very specific in this regard. Feel free to contact me at the below coordinates so we can discuss this in detail.

CA Vikram Kumar
9905828960
vikram@finvalence.com

CA Stuti Shah     23 Sep 2020

Hey Abhishek,

Audit is better option but we also need to look to your other income and investment. Would be happy to help on same. Contact us at castutishah@gmail.com

CA Jaya Agarwal     23 Sep 2020

Dear Sir,
You should go to actual position, it means if you have losses, then why you go to profit and pay tax. Instead, audit your accounts since profit is below 8%
For more details call at 7667559772

CA Navin Jain     25 Sep 2020

Kindly call for profession advice at +91 9830375894 or write to us canavinjain1@gmail.com. You can also visit us at www.globaltaxation.in

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G

Gaurav

1 Months ago

I am paying tax on inputs (Rs. 100 cost) which are taxed at 5% (Rs. 5). I also avail some services on the same product (Rs.100 cost) which are taxed at 18% (Rs. 18). Now I sell the product for Rs.300 which is taxed at 5% (Rs. 15). Am I eligible for GST refund in this case of Rs.8 or not?

Gaurav     21 Sep 2020

Services in this case are of Amazon or any other online marketplace as such which are taxed at 18%

CA Yash Shah     21 Sep 2020

Hi Gaurav, inverted duty structure is a respite available in such cases. However since the higher rate of GST is paid for services, it is not included. This section is only applicable when input is that of Goods and GST is paid on that which is more than that of Output. Hence you won't be eligible for any refund

Gaurav     21 Sep 2020

Thanks for the explanation Yash sir. Will the case remain the same after Gujarat High Court judgement last month which included "services" too in definition of "input" ?

CA Yash Shah     21 Sep 2020

Hi Gaurav, let me check this judgement and get back. You can get in touch with me at 7045760379, please drop me a message

CA Jaya Agarwal     22 Sep 2020

Dear Sir,
According to my view, you are definitely eligible for tax credit. Input means input on goods and services both and we can utilize multiple inputs of goods and expenses as well for offsetting the liability arising from that goods.

I hope it is clear. For more details call at 7667559772, ca.jkagarwal2011@gmail.com

CA Yash Shah     22 Sep 2020

Hi Jaya, he is asking about refund, offsetting of liability was allowed. Hi Gaurav, I have gone through the judgement, basis that refund can be claimed on unutilised credit under inverted duty structure

Gaurav     23 Sep 2020

Thanks Yash sir. Now yesterday Madras HC has given a contradicting judgement saying "services" are excluded in this leaving all of us taxpayers perplexed on what to follow.

CA Yash Shah     23 Sep 2020

Ideally there should not be any difference between goods and services however we love complexities. Taxpayers suffer at the end

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S

Sarita Jaiswal

1 Months ago

If i show car rental income in income from other sources in itr-1 then can i claim depreciation on it

CA Rahul Singhal     21 Sep 2020

no you can not claim depreciation on it untill you show it as a business income.

CA RAHUL SINGHAL
9910550324

CA Yash Shah     21 Sep 2020

Hi, you can claim depreciation only on business assets. For further clarifications, please connect at 7045760379

CA Jaya Agarwal     22 Sep 2020

Dear Sir,
If income from car rental is your routine course of business, then you can show it in ITR-3 as business income and avail depreciation.
For more details call at 7667559772, ca.jkagarwal2011@gmail.com

T&C apply

A

Amrinder Kaur

1 Months ago

Creating invoice without GST registration

CA Yash Shah     21 Sep 2020

Hi, it can be done if you are below threshold limit as prescribed. Please call on 7045760379 for further clarification

CA Rahul Singhal     21 Sep 2020

YOU CAN NOT ISSUE TAX INVOICE UNTILL YOU HAVE A VALID GST REGISTRATION NUMBER .
you can issue bill of supply without gst registration untill you don't cross the threshold limit for gst registration after that you have to take a gst registration.

CA Rahul Singhal
9910550324

CA Jaya Agarwal     22 Sep 2020

Dear Sir,
You can issue invoices without registration only when it is Intra-state supply of goods or services AND within limit of 20Lacs. It means for Inter-state supply you have to definitely take registration even billing of Rs. 10.
For more details call at 7667559772, ca.jkagarwal2011@gmail.com

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