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Miichael
Hey, I'm a indian and i opened a llc in us thorugh working in india and now that i have started earing money in us, how d i send that money in india and do i need to pay taxes for those funds, and will be able to open an indian business bank account with my llc documents? right now i have been sending my profits to one of my employee and thenn he sends it to me, will be getting into any trouble for doing this? I mean will be asked to pay the tax since the money is coming into his bank account
S
Sha
Hi,
I am a Tarot Card reader, astrologer
I want to file an income tax return....I am not sure under which tab I need to file it as I don't have any balance sheet or any documents because I haven't registered it.
Please advise if I should file it under Business section or Professions section in ITR 4
Thank You
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File ITR declaring income under the head Business & profession
CA Rohit Jain 1 Sep 2021for more details contact 9929511888
Hello,
You can declare this income under the head business head using Sec. 44AD.
Your profession is not in the list of professionals eligible for Sec. 44ADA Professional Presumptive Taxation.
I hope that this answer satisfies your requirements. For any query, feel free to write to me at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
Astrologer can file ITR-3 or declare income U/s 44AD at & file ITR-4. However please note Astrologer can't opt 44ADA as not covered under specified profession U/s 44ADA.
For further assistance you can reach me at ca.rahuldwivedi@gmail.com or 9004485377
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Nabil
My 1.5 lacs tax limit under 80C is already reaching under from salary. If I invest in ELSS fund how can i get tax benifit
elss fund is also covered under the limit of Rs. 1.5lacs
ELSS is cover U/s 80C so no further deduction will be available. For additional deduction you can invest in NPS (50k) and mediclaim premium U/s 80D.
For further assistance you can reach me at ca.rahuldwivedi@gmail.com or 9004485377
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Prathamesh
I have purchased an under construction property. I paid TDS on this. I also took a loan from the Bank and paid TDS for that service too. While filing income tax returns, under which section do I mention this?
A
Ashok
I bought 160 shares of reliance petroleum ltd (RPL) in 2003. i do not remember cost of purchase. the shares converted to 10 share of reliance. i sold all 10 reliance share in 2020. how do i fix the purchase price of share to file income tax return
From 31.01.2018, rules have changed for long term capital gain on shares. So you to ascertain the price of shares as on 31.01.2018 or the price of purchase of shares (which you can generate from your broker). Accordingly the tax calculation may be done. For more info please contact 9587334442. or mail at rakshit1192@gmail.com
CA Rohit Jain 1 Sep 2021to ascertain the price of shares as on 31.01.2018 https://www.caclubindia.com/share_files/equity-stock-cost-as-on-31-1-2018-nse-77424.asp
For more info please contact 99295-11888
