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Gajendra Malu
What is the last date for application of Vivad se Vishwas Scheme ?
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It's been extended to 31.12.2020
If you need any assistance feel free to contact me at canamanmaloo@gmail.com
So , can I apply for VSV in Nov 2020 also ?
CA Abhinandan Jain 24 Jun 2020Yes
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Jay Mehta
Hi, I Am a sole proprietorship of the company and want to purchase the car on loan, should i purchase car as an INDIVIDUAL OR IN COMPANY'S NAME? will i get same benefit if i purchase car as an INDIVIDUAL under 80C income tax deduction of interest rate and fuel and maintenance
1.For sole proprietorship you can purchase the car in individual name.
2.For repayment of car loan there is no deduction under section 80C.
3. You will get deduction of interest under normal provisions and it will be allowed as expenditure in profit and loss account.
4. You can also claim expenses for fuel and maintenance.
80c is separate. Interest and maintenance is available as deduction from business income. Depreciation is available on basic amount. Provided the car is used for business purposes
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Nila Moni Kakati
Sir I have taken accommodation on lease provided by company for only 7 months in this FY. So, for calculation of perquisite value should i consider 15% salary of 7 months or for the whole year?
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Subha V
I am a buyer( Indian citizen living in Hyd) about to buy(sale value > 50 lakhs) a residential flat in Hyd from a NRI seller. The NRI seller has PAN card. Should I deduct 1% or 23% TDS before registration and pay the remaining amount to seller? or can I pay the seller the full amount and they take care of taxes later?
1. For transaction value above Rs 50 lacs, TDS will be 22.88%. 20% tax+ 10% surcharge+ 4% cess
2. TDS is to be paid by the buyer. Also a TAN number needs to be obtained and seperate TDS return is to be filed. Since the responsibility is on buyer as per laws it is suggested that you only pay the amount. If the seller fails to comply with any of the provisions for TDS, the default will be on the part of buyer as per law.
In case of any further assistance you can contact me on jainabhi189@gmail.com.
Agree with Abhinandan. Furthur if you need clarity you can contact me at 9291318650 or acasairama@gmail.com, from Hyderabad, telangana.
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Anish
What to do for Paid GST for Calendars and Dairy given in Promotion by Cement company
