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CA Gaurav Garg  

CA in Practice
11Year  12Month  experience

NA


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Address

163 Ghee Mandi
Pahar Ganj
Pin code -

Availability

Mo,Tu,We,Th,Fr,Sa

11:30 am - 6:00 pm

Services

✔ Business Incorporation✔ Accounting / Book keeping
✔ Company Auditing✔ Compliances
✔ Financial Consulting and MIS✔ Direct Taxation
✔ Indirect Taxation✔ Payroll Management
✔ Govt.Registrations and Licenses✔ Intellectual Property
✔ Business Tax Planning and Management✔ Internal Audit
✔ GST

Industry Experience
✔ Consumer Markets✔ Gems and Jewellery
✔ IT & ITeS✔ Manufacturing
✔ Services✔ Textiles
✔ Tourism and Hospitality
Education
    B.com (Hons),CA,CS
Associated with (Firm / Company Name)
    A S G AND CO
Awards and Recognitions
    NA

A

Anoop

1 a year ago

Me and my wife are joint Home owner (this is our 2nd home). I am Salaried and my wife is a Housewife. Our this home is rented out. I have taken Loan and I file taxes. I have to submit Home Loan docs to my company for Income Tax saving. Tenant is submitting rent to my Wife account. So do I need to declare Rental Income in my company? I am trying to save taxes and I am thinking If I show Rental income. it can reduce my tax benefits. Please suggest.

CA Gaurav Garg     10 Apr 2022

As per Income tax provisions, if property is co-owned, then rent and interest on home loan deduction is to be taken proportionately in ratio of share of property, practically salaried employees take full deduction of Home loan and show rent in Wife income. You can accordingly make your decision.

T&C apply

A

Aman

1 a year ago

I am a freelancer/individual businessman. I buy videos from freelancers and sell them to another party with some margin. Let's say I buy a video at 90 rupees and sell it for 100. Now the party I am selling, paid me rup 100 and I paid 90 rup back to the person I bought from. Yet the company showed in my files that 100 rup is my payment but my real profit is rup 10. What is my taxable income here?

CA Gaurav Garg     31 Mar 2022

In this case, Gross Receipts will be 100, and all calculation under gst and income tax will be made considering 100/- as gross receipts, and taxable profit will be 10/-

CA Rahul Dwivedi     31 Mar 2022

Dear Aman,
There are diferrece between sales/receipt and profit. In your case Rs. 100 is your sales value against that you can claim exepses and balance will be treated as your income for the purpose of income tax. For further consultation and advice you can reach us at ca.rahuldwivedi@gmail.com or 9004486477

CA Puja Sharma     2 Apr 2022

Your taxable income will be Rs. 10 in Income Tax Act, For more details you can connect with me at ca.pujasharma@outlook.com

T&C apply

A

Aradhana Zomawi David

1 a year ago

Hi, I am a partner in a partnership firm, and we sell tshirts. But recently we also wanted to start a cultural service experience to foreigners. The service will be provided under our partnership but we want it under different name. So how do we go about it? I hope i was clear.

CA Gaurav Garg     26 Mar 2022

You can provide service under different name, but there are two ways to do the same. Either with GST Registration or without GST registration

CA Naman Maloo     27 Mar 2022

There can be separate brands under same partnership firm.
You can have different name on invoices and different name for people to recognise as brand.
Or take a separate registration for same as it would be a separate vertical of your business.

T&C apply

J

Jishnu

1 a year ago

Hi, I have been employed by an Indonesian company since April 2021. While I was supposed to work from Indonesia, pandemic situation meant that I couldn't travel to Indonesia till December 2021. So from April 2021 to Dec 2021, salary after deducting tax in Indonesia was transferred to my Indian Bank account. Am I liable to pay TDS on the salary that I received in Indian Bank account considering the fact that I was paying tax in Indonesia anyways? In case I don't have to pay TDS on it, is there any proof that I have to furnish while I file my returns?

CA Gaurav Garg     26 Mar 2022

Your ITR will attract DTA provisions, you will need a professional to file your Income Tax return, as Indonesia company has already deduct tax and Indian Income Tax will also demand tax from you, so this is called Double Tax; to avoid such tax there are DTA provisions under Income Tax Act,.

CA Naman Maloo     27 Mar 2022

TDS is paid by the company and not the employee. You need to pay tax in India.
Further if you wish to take credit of tax paid in Indonesia you need to get the proof of tax paid in Indonesia and check DTAA between India and Indonesia.
I would recommend to have a phone consultation with expert before taking any decision.
You can book consultation at:https://www.taxontips.com/tax-notice-personal-consultation/

CA Rahul Dwivedi     28 Mar 2022

Dear Jishnu,
For Resident India Global income is taxable in India. So the salary received by you will be Taxable. As for as benefit of tax paid in Indonesia is concerned it depends on Double Tax Avoidance Agreement between the Indian & Indonesian government.
For Further consultation you can reach us at ca.rahuldwivedi@gmail.com or 9004485377

T&C apply

S

Santosh Kumar Yadav

1 a year ago

If we export goods or import goods from other country through a transporter, in that case the transporter is levying igst tax on the invoice given to us, is it correct and our supply position and that of the transporter are same then taxed on cgst and sgst But is it correct that he is levying IGST on the transporter invoice?

please give your opinion about this

CA Gaurav Garg     25 Mar 2022

If the transporter and you have Gst No of same state, then transporters should levy CGST and SGST, even if it is a export or import of goods

T&C apply

C

Chetan Ahire

1 a year ago

Hi, Can a salaried employee claim tax benefit from his salary under section 24 for a interest paid on loan taken to buy commercial property by him?

CA Rahul Dwivedi     24 Mar 2022

Interest deduction for commercial property is not allowable.
For further Assistance & Tax planning your can reach us at ca.rahuldwivedi@gmail.com or 9004485377

CA Puja Sharma     24 Mar 2022

In my opinion Interest against the loan for a commercial property, a loan can be taken u/s 24. For a more detailed discussion, you can connect with us at ca.pujasharma@outlook.com

CA Gaurav Garg     24 Mar 2022

24(b) applies to all properties whether commercial or residential or any other property.

T&C apply

N

Nagarajan M

1 a year ago

How is income generated using PIN money taxed? Will it be clubbed with husband’s income? Or considered ad wife’s income?

CA Gaurav Garg     24 Mar 2022

Clubbing provisions doesn't apply to PIN money, however quantum of PIN money should be justified in terms of income of Husband.

Nagarajan M     24 Mar 2022

What is the maximum amount of money that can be given as PIN money? In terms of percentage of husband’s income?

CA Gaurav Garg     25 Mar 2022

As such quantum is not defined under income tax laws, but considerations to be kept in mind would be the size of husband’s income, the total expenditure of the household, the extent of the contribution made for the household expense, justification for the quantum of savings being made by the house lady etc.

Nagarajan M     25 Mar 2022

Ok thank you so much

T&C apply

R

Ravi

1 a year ago

Hi,

I am thinking to help one good student (but underprivileged) to study their higher education(B.Tech). I am doing this because many of us have been there.

The Tutuion fee is about 1 lakh rupees per annum. I would like to know if I can get some form of Tax exemption for this amount. I am fine with taking a certain approach if that saves tax.

Thanks in advance..

CA Gaurav Garg     24 Mar 2022

This is your personal expenditure as per Income tax act and not allowed as Tax exemption. If it would have been in form of Donation to some NGO then Section 80G could have been availed.

CA Puja Sharma     25 Mar 2022

No there will not be any tax benefit from this expenditure.
However, if you pay this amount to any NGO which is government-registered and is eligible for 80G donation then you can get the tax relief.

T&C apply

N

Nagarajan M

1 a year ago

A homemaker wife sells the gifted shares (by husband)without any gain. She re-invest the amount in F&O and makes some profit. Will this profit come under wife’s income or husband?

CA Gaurav Garg     23 Mar 2022

In this case, asset transferred was shares, and subsequently form of asset is changed to F&O, so any income arising from F&O will be clubbed with income of transferor i.e. Husband. Refer Section section 64(1)(iv) of Income tax act

Nagarajan M     23 Mar 2022

Thank you for the reply. But the asset was sold (shares) without any gain.

CA Gaurav Garg     23 Mar 2022

Yes, shares were sold, if there would have been gain, then capital gain provision would have been attracted. But in your case original asset was shares and you have converted it into cash (another asset) and that cash is invested in F&O, so income arising from F&O will definitely be clubbed with Husband income and if there would have been loss then, that also be clubbed with Husband income.

Nagarajan M     23 Mar 2022

I have read the said paragraph of income tax act. Now I understand. Thank you so much

    24 Mar 2022

I have read the said paragraph of income tax act. Now I understand. Thank you so much

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