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Vishal Ved
I have sold one of my flats in mumbai for 42 lakhs. I bought it for 7.5 lakhs in 2009. With indexation cost comes to around 16 lakhs. So LTCG comes to 26 lakhs. If I invest in 54EC have I to inve t full 42 lakhs or 26 lakhs to get full long tem capital gain waiver.
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Invest Rs. 26 Lakhs only in the bonds u/s 54EC.
CA Puja Sharma 17 May 2021You need to invest the gain amount in bonds u/s54EC to claim the exemption. For more information you can connect with us at ca.pujasharma@outlook.com
CA Rahul Dwivedi 18 May 2021No need to invest the entire consideration, can invest just 26 Lacs & get capital gain exemption.
T&C applyM
Mayank Chandna
Hi. I want to open a sole proprietorship to sell books on Amazon (which are GST free). To sell under a firm name, I need to register as a proprietorship. However, no bank is ready to open a current account under the firm name without a GST. They say you can bring an MSME certificate as that will do. But in the MSME registration form, they ask for the bank details of the firm.
It is circular. A non-GST proprietorship can't open a current account without an MSME certificate. And without a current account under the name of the firm you can't get an MSME certificate. What is to be done first? I don't understand.
there is no requirement of obtaining GSTIN for opening a current account, so you may proceed with opening of your bank account first.
CA Stuti Shah 11 May 2021Try other bank there is no such compulsion on gst number
CA Puja Sharma 17 May 2021Technically speaking, MSME is only applicable for service providers and manufacturers. Traders have been keep out of its ambit. For more information and consultancy purpose, please connect with us at ca.pujasharma@outlook.com or +91 94615 28592
T&C applyK
Krishna
How to submit tax declaration for joint home loan by both husband and wife individually.
Kindly contact at +91-9911744028. Will discuss your query and opine you accordingly.
CA Puja Sharma 17 May 2021You can take interest paid and home loan repayment certificate from the bank. The certificate will show the total mount of interest and principal paid. Attach your respective savings account statements from where repayment have been paid. This might help you in getting the deduction. For more information, you can connect with us at ca.pujasharma@outlook.com
T&C applyN
Naeem
I am about to start a company with one partner, we are having trouble choosing a form of a company should it be LLP or we can work it out with a partnership deed.
We have a word with one CA, he is saying that you should go with a partnership deed which has less compliances and dont have company income tax in other case "LLP", you have to pay 30% of total company profit to goverment plus normal income tax.
Kindly connect at +91-9911744028. Will clear your doubts.
CA Naman Maloo 9 May 2021That depends on your business or service which you wish to give via this company and you may consult for Same on canamanmaloo@gmail.com or book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
CA Mehul Aggarwal 11 May 2021You may contact us at 9811 896 771 for guidance. Thank you!
CA Stuti Shah 11 May 2021LLP and partnership and partnership firm both have same tax rates no difference on that. Jus the difference is type of entity. You can surely opt for simple partnership if you don't want to fall yourself under more compliances. You can surely contact us in case of further query.
Best wishes for New startup
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Febina Joy
I have terminated my articleship when conpleted one year now i have to join a new firm there is a 50 km criteria for that..but i know a person who did rejoining within 50 kms but she have a time gap of 2 years...will i be able to do so too?
