R
Raj Kumar
I want receive fund from client and i do trade on this fund. After profit share profit with client.
This type business how can start without sebi registration.
J
Jignesh Desai
In case an Individual having Business Income in his return every year opts for the old tax regime for A.Y. 2021-2022 , can he opt for the new tax regime in any subsequent year , for e.g. A.Y. 2024-2025 ?
In case this is possible & he opts for the new tax regime in A.Y. 2024-2025 , in any later year , can he go back to the old tax regime ? Or will he have to stick to the new tax regime for ever after A.Y. 2024-2025 ?
Can you substantiate your reply with reference to any rule , circular , notification , etc ?
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Section 115BAC: A salaried taxpayer can opt-in and opt-out every year. However, a non-salaried taxpayer cannot opt-in and opt-out of the new tax regime every year. Once a non-salaried opts out of the new tax regime, they cannot opt-in again for the new tax regime in the future.
JigneshDesai 30 Nov 2020Thanks , Roomi Ma'am . But I think the rule is with specification to "Business Income" and not "Salary Income" . What I mean is that the implication of this section is that an Individual not having any business income in his return can change his tax regime every year . The limitations on changing the tax regime is only for persons with business income .
T&C applyS
Srikanth Reddy
If a doctor earns more than 50 lakhs per year... What are the ways to reduce the taxes?
best way is to get books audited by CA
CA Roomi Gupta 30 Nov 2020Every person carrying on profession shall, if his gross receipts in profession exceed fifty lakh rupees in any previous year get his accounts of such previous year audited by an accountant before the specified date and furnish by that date the report of such audit in the prescribed form duly signed and verified by such accountant. Tax will be calculated after booking all expenses & income
CA Roomi Gupta 30 Nov 2020Can contact at 9216216819 for further detail
CA Puja Sharma 4 Dec 2020Maintain complete books of accounts and get your accounts audited. He can reduce tax by keeping records of all expenses which will reduce the business profit. Further the individual can use the 80C, 80D and other deductions for saving tax.
T&C applyJ
Jignesh Desai
COMPARISON OF MUTUAL FUND RETURNS VERSUS SHARE-TRADING RETURNS :-
To earn returns from Equity , we can invest in Mutual Funds or trade in shares . In Equity M.F. , expense ratio
would be anywhere between 0.05% to 2.25% . As for taxation , we can rest assured that LTCG would be 10 % & STCG would be 15 % .
Now ,with the same money , if we trades in shares . Let's consider the pros & cons . If we decide to trade through a full-fledged broker (Many people feel uncomfortable trading through "discount brokers" ) the brokerage + taxes on each delivery -based trade is approximately 0.7 % of the value of the trade . So , just 2 purchases & 1 Sale of the whole amount of money would equal the whole year's charges in case of the most expensive Equity M.F.s (0.70% * 3 = 2.10 % , is almost equal to the 2.25 % charged by the most expensive regular M.F.s) . Apart from this , there is also a slim risk , that in case our turnover exceeds a certain amount , or if we trades extremely frequently , the I-T authorities may deem all the profits that we earn from share-trading as business income . And then we would be charged at the marginal slab rate that we fall into . In case if we are falling in the 30 % bracket , we would be taxed at 30 % instead of 15%. Plus , in case of share - trading , we would have to give time to the share terminal between 9.15 am to 3.30 p.m. everyday from Monday to Friday .
So , considering that in M.F.s , we do not have to devote 6.15 hours every day , from Monday to Friday , & just periodic monitoring of the performance of our investments would be enough , net of ALL EXPENSES IN BOTH THE CASES , how much extra POST-TAX returns from the share-trading should we earn , on an annual basis , to justify the extra time investment that we have to make in case of share-trading as opposed to investing in Mutual Funds ?
S
Saransh Jain
The rights of a partner holding more share in case of dissolution in case of two partners . The goodwill and firm rights remains in the hands of person holding more share in case of dissolution?
The right depends as per partnership deed
CA Puja Sharma 4 Dec 2020All rights and duties will be as per the partnership deed. If the partnership deed is silent then you will have equal rights
