A
A Ghosh
Person A(Father) and Person B(Son) were the only two directors in a private limited company.
At the time of appointment Person B(Son) was 19. His name was added as more than 1 person is needed to form a Pvt ltd company and the ratio of
shares was A:B:: 80:20.
4 years later the company was sold and dissolved. The proceeds from the sale was completely taken by Person A(father).
Person B(son) never received any amount from the proceeds of the sale. Person A(father) dies and Person B doesn't receives anything from inheritence as well.
My Question is what is the tax liability of person B in this case? If there is any, how can he get relief from it?
D
Dara Udaya Ravi Kanth
I haven't filed IT returns for the assessment year 2020-21. Is there any way to e-file returns now? Or is there any consequences now?
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No ITR for the AY 2020-21 cant file now. For more info contact us at ca.roomi12@gmail.com or 9216216819
T&C applyB
Burhanuddin
Sir i dont have purchase invoice and I am selling on Amazon what should I do to claim itc without purchase invoice
First check status of GSTR-2A/B whether any credit is showing there.!
CA Naman Maloo 4 Jul 2021Was GST charged on purchase and did you give your GST number during that purchase?
If yes ITC will appear in your profile and you can claim it there.
B
Biswajit Senapati
Which ITR form should i choose. I have salaried income as well as part time online business income where TDS is deducted.I also have Form 16 from both.
Hello,
Depending upon the section under which TDS has been deducted on the online business income, ITR-4 can be filed.
It would be advisable to hire a practicing CA for proper preparation and filing of your income tax return.
I hope that this answer satisfies your requirements. For any query, feel free to write to me at badlaniassociates at Gmail.
ITR 4 can be chosen.
If you need any assistance in filing ITR click here: https://www.taxontips.com/income-tax-return/
A
Arghya
Can I pay house rent to my parents and show that as HRA?
You can pay rent to your parents if you are staying with your parents. This should be done by transferring the money (rent) to their bank account or pay via a cheque. This way you will be able to claim your HRA deduction properly. Since rent is paid to owners, the property must be owned by your parents. For more info contact at ca.roomi12@gmail.com or 9216216819
