S
Shekhar Singh
I WANT TO FILE I T RETURN IN FILE SEC 8 COMPANY REGISTERED U S 10(23C)(VIA) . I NEED GUIDANCE AND IMPORTANT ISSUES RELATING TO ITR
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A
Amit Kumar Satapathy
Hello Professionals,
I have a query hope you can guide me through the right direction.
I have incorporated a Section 8 company an NGO to work for women and children. I have opened a bank account for that too and transacted some amount for 6 months. I have not received any amount for my ngo for the last 3 years but now we are about to receive a grant. As the company has 2 directors which has not been paid any salary for the past 3 years. Is it possible to deduct the salary of 2 directors for the past 3 years from the grant we receive? The grant has no foundation to whatever the money is used.
Are you registered under section 11 of income tax?
Is paying salary a necessity if you are running a NGO?
you can pay as much salary as you want but will that help you in taxation.
M
Manjunath
What is the maximum amount an individual can invest in share market in india?
Dear Manjunath,
There are no restriction on share investment. It means there is no maximum limit for investment in share. However source of income should be justifiable in case any query raised by department. For Ex. you are filing ITR with 4 L income and you have purchased shares of Rs. 3 Cr. In such case quesy may be raised by department, so keep this in mind.
For further consultation you can reach us at ca.rahuldwivedi@gmail.com or 9004485377
S
Shantanu Bisht
I need GST registration for my e-commerce business. Do I need to register myself as a tax collector or does any other wip work?
You would have to take 2 registrations.
One for service invoice which you will be raising, and another for Tax collection at source, however do check whether the service your portal would provide is covered under TCS or not under Section 9(5), for more details do email at cayashchopra@gmail.com
Dear Shantanu,
There may be two cases :
1)If you wish to sale goods through e-commerce operator like Amazon get registration as Tax Payer
2) You wish to register yourself as E-commerce operator then have to take 2 registration subject to certain condition.
For further consultation you can reach us at ca.rahuldwivedi@gmail.com or 9004485377
N
Nikhilendra Atheti
Hi, I declared a new tax regime with my employer. i received my Form-16 accordingly. But I failed to submit the ITR before 31ist December with new tax regime. Now income tax portal is not accepting Belated ITR with new regime under 115BAC Section. Is there any way i can file ITR with new tax regime. please guide me.
Dear Nikhilendra,
You can file belated return but late filing penalty will apply in your case.
For further consultation you can reach us on ca.rahuldwivedi@gmail.com or 9004485377
IT Portal not accepting Belated ITR with new regime but you can file belated return with old regime . For more info visit our website @www.tarunguptaca.com and book appointment.
Now you can file with penalty under old regime
T&C apply
