Anuj
Visited For Personal Wealth Planning
How can I book appointment for personal wealth planning consultation ? thanks
B.Com (Hons), CA, Ex-PwC, Ex-Deloitte
Anuj
How can I book appointment for personal wealth planning consultation ? thanks
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A
Aarthi Muthiah
I have a notarised trust. I am going to register it now and I am the trustee while my father is the owner of the premises where the office of the trust is located. Will I require an NOC from my father? If yes, what is the format of the NOC? And how should the NOC be printed (Plain paper/ stamp paper/ letterhead)?
Yes, you need to take NOC from your father. You can take standard format of NOC generally which we take for GST registration etc.. Its optional to have the NOC on a stamp paper.
CA Namita Agarwal 10 Nov 2020Yes, you will require NOC. You can refer to formats available online. It is preferable to print NOC on stamp paper though it is not mandatory.
T&C applyR
Rishi
I am looking to buy products in USA to be sold to people there. If the products don't come to India, do I haveI to pay tax on them?
Yes you have to because you are the owner who is controlling business from India.
CA Deepak Kucheria 8 Nov 2020Income Tax would trigger, however GST would not trigger.
CA Namita Agarwal 9 Nov 2020Yes, as business is controlled from India and you are likely to be resident of India ,you are required to pay taxes in India. For detailed discussion, you may connect at +91 93545 62098/ info@fincheff.com
T
Tejashree
What is forex, binary and intraday trading? Is it legal in india?
Forex trading is the means through which one currency is changed into another.
A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all.
Intraday trading imply a trade closed within the span of one day or one trading session. Such traders square off their trades, that is, buy shares and sell shares or other financial instruments before the closing of the market each day.
Forex and intraday are legal in India.
For more info pls connect on
+91 93545 62098/ info@fincheff.com
https://www.fincheff.com/
Intraday and Forex trading is legal in India. In case of Intraday trading one can trade into equities, Futures & Options, Commodities etc.
Forex trading is allowed upto a certain boundary by RBI. However binary trading is not allowed in India.
A
Amit
We sold an inherited residential house on 1st June, 2018 of worth : 1.2 CR, we deposited 52 lacks in capital gain account on 1st Aug, 2019. My question is as we sold property & yet not finalize any other property residential property till today
1. How much duration we have now to purchase a new property?
2. Will Govt. will allow to avail Long term capital gain Tax exemption as per above stated scenario.
Please reply
CA Namita Agarwal 7 Nov 2020Are you still looking for answer
CA Namita Agarwal 7 Nov 2020Are you still looking for answer
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Ashish
Hi, Recently, we have sold a residential plot and with that money I wanted to purchase an apartment, for which the builder is offering possession in Dec 2024, would want to know if I pay the builder the complete amount of net sale proceed then will there be a tax liability on me.
Request more insight.
Dear Ashish, You can book a Flat and pay amount as booking amount to get exemption.
CA Jaya Agarwal 4 Nov 2020For taking full benefit of tax liability, Within a period of one year before or two years after the date of transfer of old
house, the taxpayer should acquire another residential house
Hi Ashish,
As per Income tax Act, in order to claim exemption, you need to invest capital gains proceeds in purchasing another property within next two years. Thus, if you can substantiate the purchase and other conditions are met, exemption can be claimed.
It is advisable to discuss the case with additional facts and take advise thereon.
Regards
Namita Agarwal
FinCheff Advisors LLP| Partner
MSME Business Forum India| Strategic Advisor
Mobile: +91 93545 62098
Email: namita@fincheff.com
https://www.fincheff.com/
Since the period of possession would be beyond 3 years from sale this might cause trouble to you in future although you can claim exemption today.
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Gaurav
E commerce seller ko apne sabhi sell k bill rakhna jarori h? till assessment or few months ?
You are required to maintain bills for prescribed time. In general, under CGST, you are required to maintain records until expiry of 72 months from due date of furnishing annual return.
There are different requirement of maintenance of records under different Acts.
As per Income tax and GST if a person maintains books of accounts they need to maintain the same for 6 years.
CA Akshay Ranka 29 Nov 2020As per Income tax and GST if a person maintains books of accounts they need to maintain the same for 8 years.
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J V Nair
I am working as an affiliate marketer (for Amazon and Flipkart) and earned around Rs. 16 lakhs till November 2020 and hope will cross Rs. 20 lakhs this financial year. I think I have to take my GST registration once my earning crosses Rs.20 lakhs in this financial year. I have the following doubts? 1) If I take GST registration now, am I responsible to pay the whole GST for this financial year (ie. 18% of 20 Lakhs)? 2) If I take GST registration, am I responsible to file GST returns monthly even my earnings will be below Rs.20 lakhs in the next financial years? 3) Since my earning are based on the advertisement of Facebook Ads and Google Ads, is it a wise decision to limit my earnings below Rs.20 lakhs this year and take GST registration in the next Finacial Year?
Hi Mr Nair
Pls find answers below::
1. No
2. GSTR3B - monthly. For GSTR1- you can opt for quarterly filing
3. lets discuss this over call pls
Regards
CA Namita Agarwal
FinCheff Advisors LLP| Partner
MSME Business Forum India| Strategic Advisor
Mobile: +91 93545 62098
Email: namita@fincheff.com
https://www.fincheff.com/
No GST has to be paid on amount received after 20 lakh and if you take before that also you can charge GST only once you get GST registration and on bill raised after such registration.
Yes GST return would be required.
You can book a phone consultation and discuss more on same: https://www.taxontips.com/category-goods-services-tax-gst-registration/
D
Dhiraj Gupta
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.
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 2020Hi 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
Please call on 7045760379
Dhiraj Gupta 14 Oct 2020okay sir
CA Namita Agarwal 6 Nov 2020Hope your query is resolved
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Rajshree
What are the tax implications of selling a property from which one is booking a profit
Can you please elaborate on what do you mean by which one is booking a profit?
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Piyush Agrawal
Can I take online transfer of 6 lakh from my father in law for car purchase as a gift
Hey Piyush,
Yes you can do that and can show it as Gift in consideration of amount transferred and not car purchased.
Kindly contact us @ 9825330911 in case of any further query
Yes, you can but you should make gift deed for that. For more assistance call at 7667559772
CA Namita Agarwal 5 Nov 2020Yes, you can. For further assistance , please contact us
Mobile: +91 93545 62098
Email: namita@fincheff.com
Visit us at www.fincheff.com