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Question & Answer


P

Pradeep

31 Jul 2019

Hi, My friend had a company register in Feb 2016, I join that in July 2016 he offer me directorahip, and I leave that firm in June 2017 but still my name is showing in director list and my friend is not doing anything to get me out of this, even he stop filling ITR for the company.

Replies (2)                          

CA Naman Maloo       31 Jul 2019

You need to mention that in your return of income while filing as now it's mandatory.

Pradeep    1 Aug 2019

How can I get out of this.... I just want to remove my name from board of director and share holders

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J

James Bond

31 Jul 2019

I listened from somewhere that you can run your startup without opening the company, in this method you will need to get service tax registration and current account with licence, so in that method( run startup without opening the company) what is the limit of annual and half yearly turnover, and what is the area limit (means can you run your startup in all over the india?) ?

Replies (1)                          

CA Naman Maloo       31 Jul 2019

If you want to open a start up and want the benefits of start up then you need to register with MCA either as a company or an LLP to get the benefits.
If you just want to start a business all over India then there is no requirement of opening a company you can even do it with your individual PAN card and current account. Service tax is not applicable now you just need GST that too if you satisfy certain conditions.
If you need further assistance feel free to contact me at canamanmaloo@gmail.com

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B

Bhargav Nayak

31 Jul 2019

Hello sir, my name is bhargav nayak from gujarat. sir i applied for two pan card for starting my company on partnership deed, but unfortunately i am not open bank account on that pan card, and work with different company which own by me, now i have two pan card which is not operated by me as well as anyone else, now my question is am i still have to file ITR on that pan card, if yes than how because i have not bank account on that pan card, or any financial transaction on that pan card.

Replies (2)                          

CA Vaibhav Mago       31 Jul 2019

Mr Bhargav your query is not clear as to whether you have two PAN cards for your firm?
Better would be to consult me at mail vmassociates2017@yahoo.com

CA Naman Maloo       31 Jul 2019

Sir if you are not doing any business on such PAN its better to surrender that PAN but if you are going to hold that PAN then as per income tax act you have to compulsorily file return even if its NIL return.
If you need any further assistance feel free to contact me at canamanmaloo@gmail.com

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K

Kedar Nath Sharan

30 Jul 2019

What is maximum tax rebate I can get in house loan interest. If house is rented.

Replies (3)                          

CA Shashank Gupta       30 Jul 2019

maximum 150000 for principle part in 80 c and Rs 200000 in 24 (b) for interest part

CA Roomi Gupta       30 Jul 2019

No limit for rented house and Rs. 200000 for self occupied house

CA Naman Maloo       30 Jul 2019

Maximum 1.5 lakh for principal part in section 80C and no limit for interest for rented house.
For more details feel free to contact me at canamanmaloo@gmail.com

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V

V Banamigi

30 Jul 2019

When I as in USA last year I had purchased some gold worth 10 lakhs online in Indian for wedding using my USA debit card, however now that I want to sell them do I have to pay income tax? since I have already paid it in USA.
I have recently returned to INDIA and I have no income in INDIA from past 4 years

Replies (1)                          

CA Shashank Gupta       30 Jul 2019

you have to pay capital gain in india

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