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Rajesh
A European Startup wants to hire me (Indian Resident). But they want me to join as an investing founder and therefore have a small equity stake in the company. How can I remit the funds from India and what clauses of FEMA are applicable in this situation?
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Yes, Reserve Bank has given general permission to a person resident of India to acquire foreign security to the extent of the minimum number of qualification shares required to be held for holding the post of Director and this amount shall not exceed 1% of the paid-up capital of the company subject to a limit of USD 20,000 in a calendar year.
However it would be better if you take a personal consultation for better understanding or if you need any other assistance.
You can mail me at canamanmaloo@gmail.com
K
Kevin James
I was filling the form 26QB for TDS and had a query. The sellers are joint owners (husband and wife). Now while filling the form, I know I have to fill two forms, ie. 1 each for both joint owners. However while filling the form, what is the value I need to put under below fields?
Total Consideration:
Will the Total Value of Consideration be the full amount on both the forms or 50% in each form? Eg. If the value of property is 1cr, will Total Value of Consideration be 50 lakhs each on both forms or 1Cr in both forms??
Total Amount Paid:
Will the Total amount paid be 50% of 1 Cr for each of the 2 forms, i.e 50 lakhs and 50 lakhs? The amount is paid in lumpsum.
Rounding off the amount:
Lastly, there is no option in the below drop-down for paise as the amount is in decimal. The total value is 1cr and 1 rupee. Can I round it to 1cr 2 rupees so that the split will be 50laks and 1 rupee as there is no drop-down to select paise?
I think you must take service of professional rather than along such a huge question on such platform you might get better response.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com
Total Consideration:
Will the Total Value of Consideration be the full amount on both the forms or 50% in each form? Eg. If the value of property is 1cr, will Total Value of Consideration be 50 lakhs each on both forms or 1Cr in both forms??
Ans: The Total Value of Cosideration will be Rs 1 cr in each form.
Total Amount Paid:
Will the Total amount paid be 50% of 1 Cr for each of the 2 forms, i.e 50 lakhs and 50 lakhs? The amount is paid in lumpsum.
Ans: Total Amount paid will be Rs 50 Lacs in each form
Rounding off the amount:
Lastly, there is no option in the below drop-down for paise as the amount is in decimal. The total value is 1cr and 1 rupee. Can I round it to 1cr 2 rupees so that the split will be 50laks and 1 rupee as there is no drop-down to select paise?
Ans: Please don’t make changes in the decimal. The form wont proceed further if changes are made.
Also remember you have to generate form 16B after making the payment.
Feel Free to contact me if you have any further query. My Email ID is caartiajain@gmail.com
Thanks a lot Arti, I have sent you an email. Really appreciate your help.
T&C applyP
Paras Karandikar
I have paid my friend a certain amount over 50000 rupees, do I need to document this as a loan to save taxes
loan transaction no tax implcation, however have certain documentation, taxman may insist..
T&C applyH
Himanshu
I want to start an online grocery delivery service in which the product will reach the customer from the local grocery shop, so sir, for this I need any registration and license: so what are those
if ur individaully,(proprietorship) , you require GST and local regn if any like shops & establishment, Profession tax..f
feel free to reach us
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Mv Varaprasad
Hi I am planning to work for UK firm from India.What is best available option for me to get paid for my services.
1. Incorporate Propriety firm and do business with UK firm or 2. Let UK company hire me as consultant.Please advice.
if ur working from India, u need to pay tax on income (net of expenses) you may require GST regn.
CA Abhinandan Jain 31 May 2020In both case the income tax implications are same. For GST we need to understand the nature of service for understanding it's taxable or not under GST.
Pls feel free to contact me on jainabhi189@gmail.com for further assistance.
