P
Pawan
A friend and I plan to start a distribution business. In a year or two we plan to go separate ways as business grows. It will divided equally. To start now what type of ownership is recommended for less tax, less complication during division later on?
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Dear Pawan,
Always start business with positive node of Grow, Grow & Grow instead of division.
As far as legal status is concerned ever types of entity has its own pros & corns like in case of Company formation cost, RoC filing etc. however lower IT rate compared to partnership firm.
The decision in this regard needs to be taken with detailed discussion, business model, future plan etc.
For further discussion you can reach me on ca.rahuldwivedi@gmail.com or 9004485377.
M
Manas
As a Karta can i give loan to my HUF , HUF is just formed a few days back and has 0 assets .
M
Manas
as a karta can i give loan to HUF ? my HUF is just created and has no assets right now
Dear Manas,
No issue Karta can give Loan to HUF.
For further discussion you can reach me on ca.rahuldwivedi@gmail.com or 9004485377.
K
Kesavan
Sir, the question is related to GST for Real Estate Sector
We are the Promotors
Our business is constructing building in Own lands and selling’s the Completed Buildings/Under Construction Buildings (Residential).
In Tamil Nadu,
First, we create a sale deed for the land on the name of customer, then we create a construction agreement between party and us.
1). Example:
Total Consideration Value is Rs 75,00,000.00/-
Land Value is Rs 30,00,000.00/-, Date of Creation/Registered of Sale Deed is 01-10-2021
Construction Agreement Value is Rs 45,00,000.00/-, Date of Registered of Construction Agreement is on 15-10-2021
1). In this situation, what is the GST Rate Applicable for construction of services?
2). On Which Amounts GST to be Calculated? Is on Total Consideration or Construction Agreement Value?
2). Example
70% of Works Completed in the Buildings and 30% Remains
In this Situation,
Total Consideration is Rs 75,00,000.00/-
Sale Deed will be created for Rs 52,50,000.00/- (Land + 70% of Completed Work)
Construction Agreement to be Registered for Rs 22,50,000.00/- of 30% Remains
1). In this situation, what is the GST Rate Applicable for construction of services and Sale of Under Construction Property?
2). On Which Amounts GST to be Calculated? Is on Total Consideration or Construction Agreement Value?
After the new amendment I guess GST should be on construction contract at 5% if the project is not covered under PMAY
For further discussion you can book a phone consultation with expert at: https://www.taxontips.com/gst-consultation/
S
Suresh Ananthasubramanian
I need immediate assistance in filling up Form 26qb for a property purchased jointly by me and my wife from a seller in baroda
You can book phone consultation with expert for same at: https://www.taxontips.com/tax-notice-personal-consultation/
And then hire for filing TDS return as well
Please call CA Ganesh Kakani +91-9420683637 or mail caganeshkakani@gmail.com
T&C apply
