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Nikhil Babhulkar
Can a private limited company start after 1 year of registration
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No issue as such. But need to check whether the annual compliances, DIR-KYC etc. has been done or not.
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Kanishka Kumar Singh
I did not know that my customer is SEZ, I billed in regular state billing format and paid sgst and cgst in gstr3b. In GSTR-1 filing, while adding invoice, it turned out that the party is SEZ, and uploaded with IGST with payment. Now GSTr-1 didnt accept those invoices because of less IGST balance. How do i transfer paid CGST/sgst to IGST. Or alternatively, how do i remove these invoices and put it in retail invoice
Ma'm, please contact at deepakkucheria@gmail.com. Will guide you in rectifying the errors.
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Mahesh Saste
Hello myself mahesh saste i am nri holding self bought 2 apartment in pune,i am planning to sell one aprartment 13yrs old ,can i claim exemtion under section 54 to construct new house in my home town,if not what optins i have to save capital gain tax
Yes, you would be eligible to claim exemption u/s 54 of the act for construction of house subject to fulfillment of conditions. Further, the alternative to saving capital gains tax is to invest the gains in prescribed bonds subject to a ceiling of INR 50,00,000.
For professional advice please connect at +91 9830375894 or write us at canavinjain1@gmail.com. You can visit us at www.globaltaxation.in
We can discuss it further for tax planning.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com
Yes, you are eligible for exemption on construction.
Alternatively, you can invest in NHAI bond or REC Bond upto Rs. 50 lakhs to get deduction on your capital gains. These bonds have a lockin of 5 years and interest is paid around 5% per annum. Thank you.
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Vicky
I deposited Rs 60 Lakh in my Current account in the previous year. Do I need to register for GDT?
It depends on why did you invest the amount in your current account.
If you need professional assistance feel free to contact me at canamanmaloo@gmail.com
GST registration is to be taken on turnover and not on deposits. If these funds are introduced as capital or loan, no GST registration is required. But, if the deposit is from the receipts from customers, definitely you need a GST registration.
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Venkata Rathnaiah Oringam
I am NRI want to start Sole proprietorship firm in India and to run Supermarket and Function hall in my own premises in Andhra Pradesh is NRI is allowed for Sole proprietorship?
What is the nature of the business for function hall to register shops and establishment act through mee seva as I have not find function hall in the given dropdown list.
Yes a NRI can start a sole proprietorship business. For professional consultancy, you can write to us at canavinjain1@gmail.com or reach me at +91 9830375894
VENKATA RATHNAIAHORINGAM 11 Jul 2020Thank you so much sir.
CA Navin Jain 11 Jul 2020Also if you have returned to India, it may be likely that you would not qualify as a NRI anymore, so various things needs to be considered. You can call us to discuss the same.
CA Naman Maloo 11 Jul 2020Yes NRI can do business in India as sole proprietor. However if you are managing your own business you might have satisfied the condition to be a resident.
Have you applied for PAN.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com
