V
Vijay
Sir i want to open my open my domestic money transfer business i want to know how the taxation work in this business
M
Mohammad Arham
My only income is rental income from a property and I fall under the tax slabs. Does it qualify for section 115BAC or do I need to file under the normal old tax filing.
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Selection of Old regime Vs. New regime of tax depends on your total Income and available deduction . One sohle compare the same before opting best one.
For discussion you can reach me on ca.rahuldwivedi@gmail.com or 9004485377
Yes all types of income are eligible for section 115BAC but you need to be sure that you are benefiting from same.
You can compare same at; https://www.taxontips.com/calculation-sheet-for-comparison-of-tax-payable-under-new-and-old-tax-regime-for-individual-and-huf-115bac/
D
Dinesh Kumar C
Hi, I and my friend are performing trading in our two separate personal accounts. We would both like to share the profits equally among each other, by forming a partnership. Can we do so by reporting the net profit generated in both personal accounts as the income for the partnership and then pay taxes for the same and then split the profit among ourselves.
Also, we do not want to use the business account of the partnership for connecting with the trading app, we want to continue to use our personal bank accounts for the same, and would like to transfer all the profits generated to this business account at the end of the tenure for taxation purposes.
That won't work like that as you won't be able to show that income you earned in individual capacity as profit of firm and pay tax.
T&C applyM
Meera Agrawal
My annual salary is Rs. 275000 whether I am required to fill ITR ?
No if that's the salary you have received but it's always advisable to file income tax return.
https://www.taxontips.com/who-needs-to-file-income-tax-return-or-who-should-file-income-tax-return/
You should file ITR as your income exceeds basic exemption limit i.e. 2.50L , however in your case there will be not Tax Liability.
For further discussion or assistance you can reach me on ca.rahuldwivedi@gmail.com or 9004485377
K
Ketan
I am Student and I invest in Stocks Through Groww app , I Have Capital Gain of around Rs450( I trade in small amounts) it's Short term capital gain, I want to ask is what is my Short term capital gain tax and is it already paid or do I need to pay it, file ITR or something like that?( My income is 0 , I get my money from Dad as Pocket money)
You don't have to pay any tax if that's the only gain
CA Rahul Dwivedi 9 Jun 2021not required
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