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Sai Suresh
Can we register a LLP with 3 partners with equal power
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Aradhana Zomawi David
The gst of garments has been increased from 5% to 12% on garments above Rs.1000. My question is that is the rate charged on item or overall value of the clothes? For eg i buy 10000 rs worth of tshirts which is sold for rs. 500. So basically im buying 500 tshirts for Rs. 500. So would 5% will be charged on it or 12%?
The Govt. has postponed the decision of increasing GST rate on garments below sales price per unit of Rs. 1000. Currently if 1 unit is sold at a price exceeding Rs. 1000, then only 12% GST would be charged. For more information, kindly connect with us at +91-9911744028
CA Puja Sharma 22 Jan 2022The proposal for increase in GST rate of GST for textiles was withdrawn by th Government. It is still 5%
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Raghavendra
On December 2021 and January 2022 month, i have gained profit of around 3 Crs. From this amount i have purchased a house of 2.5 Crs. i have left with 50 lakhs. i have calculated tax from income tax calulator, it is showing tax of around 87 lakhs. what if i could not be able to generate a money more than 50 lakhs that is remained amount. how much tax i have to pay and when ? please guide me regarding this.
We would need more information to assess the tax laibility like the profit belongs to business income or trading in securities or any other source. Further, you would need to pay advance tax the last instalment of which has to be paid by 15th March, 2022. If you do not pay advance tax then then you can pay tax at the time of filing return alongwith applicable interest. For more information, kindly connect with us at deepakkucheria@gmail.com or +9911744028.
CA Rahul Dwivedi 22 Jan 2022Dear Raghavendra,
Taxablity depends on nature of transaction. You have not mentioned what kind of profit you earned. Once we came to know in detail the nature of transaction then only will able to guide you and plan the tax. If Further details available solution can be provided.
Con can reach us at ca.rahuldwivedi@gmail.com or 9004485377
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Sandeep Vij
A property s in the joint name of me and my wife. However all payments were made from my account. Since I had paid the entire amount can I take credit for the entire capital loss for set off against capital gains against another property.
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Sriharivel
Do I get income tax notice for cash deposit of 4lakhs borrowed money for my brother college fees
It is not necessary that you will receive an Income Tax Notice against it.
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