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Question & Answer


R

Raj

21 May 2020

Revised IT will be an issue for getting loan ??

Replies (1)                          

CA Rahul Agarwal       25 May 2020

No, revised ITR is not an issue for getting loan

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S

Sanketh Adepu

21 May 2020

Hi we are planning to start a assembly unit. We are very much confused about gst. Should we pay gst for raw material and final product. Will there be any option to recover gst paid on raw material after sales

Replies (1)                          

CA Naman Maloo       21 May 2020

If you need professional assistance feel free to contact me at canamanmaloo@gmail.com

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A

Akash Raj Singh

20 May 2020

I want to know about taxation i.e TDS and self assessment tax or advance tax for RBI bonds with cumulative maturity option bearing interest rate @7.75% for 7 years. Proceeds will be credited on maturity and RBI will deduct TDS at maturity. Will I have to pay self assessment tax every year. And if yes, how to calculate it?

Replies (1)                          

CA Naman Maloo       20 May 2020

In Income tax for income from other sources there are two options to show it either on accrual basis or cash basis. So if you are going to receive the amount after 7 years and government will TDS at that time that means there will be no accrual of income in your name and hence you can show it after 7 years.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com

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R

Rahul Khaitan

16 May 2020

Helloi am a trader and having a textile firmcan i trade in santizer,mask , gloves and etc essentials goods?i will buy goods from a manufacturing factory and sellso it is possible?or can it be done?and if not what can i do to start a trade in these goods as soon as possible

Replies (1)                          

CA Naman Maloo       17 May 2020

Yes you can sell there is no restriction on that unless you are a company and something is mentioned in your MOA.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com

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N

Nikhil

16 May 2020

We are running a sports academy which comes under service provider category. I would like to know can Sports Academy register under msme/ssi registration ?

Replies (1)                          

CA Naman Maloo       16 May 2020

Yes currently there is no restriction on which services can register under MSME so you can register under MSME.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com

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