A
Akshat Pandey
Hello,
I'm a 20 year old trader
I buy and sell game items in which per 50,000 inr I earn around 1-2k inr
I have to do a lot of transactions in order to earn a small amount
I'm using my savings account currently and I do a lot of transactions on daily basis
Only and number and amount of transactions is high but the income is low
I only do transfer via UPI/IMPS/NEFT using my savings account and no cash deposits or cheques
Is it safe to do so? Will it cause me any trouble in the future? I don't want to get under ITR's radar or get in any sort of
TY
You're kindly advised to get a current account opened. High number of transactions in the savings account will get you under the lens of IT Deptt. Moreover, get your income tax return filed by a professional since your return will be complex one. In case proper disclosures are not made, you may end up paying unnecessary demands , penalties, etc. Thank you!
For any further information, get in touch at camehulagg (at) gmail (dot) com
L
Lalit Kumar Gupta
I am LALIT KUMAR GUPTA
i have a joint account with my mother SUSHILA RANI in DEUTSCHE BANK.My mother died in Dec 2019.
There is an account in DCB BANK by the name ROOP CHAND GUPTA HUF in which my mother, i.e. SUSHILA RANI is a member and I, i.e. LALIT KUMAR GUPTA am the KARTA along with other co parseners.
i wish to transfer a sum of around 20 lacs which is tax paid money source of which is the maturity proceeds from a FD in the name of SUSHILA RANI , from DEUTSCHE BANK(Sushila Rani and Lalit Kumar Gupta joint a/c) to the HUF account in DCB bank by cheque or netbanking.
Do I need to make a gift deed from LALIT KUMAR GUPTA to ROOP CHAND GUPTA HUF since the first holder of the account in Deutsche bank i.e. Sushila Rani is no more and LALIT KUMAR GUPTA is now the de facto owner of the funds in DEUTSCHE BANK
Hi, a gift deed is not required. A simple transfer is sufficient. Thank you!
For any further information, get in touch at camehulagg (at) gmail (dot) com
S
Sandeep
How much cash we can accept for sale of inherited land ? Ex: if the property is 5L on registration doc, can we accept 2L in cash and 3L through NEFT/DD ?
N
Nitesh Mockoul
I need a consultation for my ITR
Hi Sir! Kindly contact us at +9911744028. Will assist you with your queries.
CA Puja Sharma 23 Apr 2021For all types of income tax consultancy services you can connect with us at ca.pujasharma@outlook.com or +91 94615 28592
CA Premkumar Devarajan 23 Apr 2021You connect to us at pdc.connect@gmail.com or +91 7021552863
CA Mehul Aggarwal 24 Apr 2021Hi, please get in touch with us at camehulagg (at) gmail (dot) com or call us at 9811896771
CA Naman Maloo 25 Apr 2021You can get one at: https://www.taxontips.com/tax-notice-personal-consultation/
T&C applyY
Yogesh Sonawane
I wants to start a company to supply & Service of Industrial parts and services, kindly help me to select the type of company for registration as Proprietorship,Pvt Ltd or LLP?
The type of entity registration will depend upon various factors like number of persons involved, capital etc. for more information you can connect with us at ca.oujasharma@outlook.com
CA Puja Sharma 23 Apr 2021The type of entity will depend upon various factors like number of persons who want to invest, compliances, capital requirements etc. You can connect with us at ca.pujasharma@outlook.com or +91 94615 28592 for detailed discussion.
CA Premkumar Devarajan 23 Apr 2021You need to consider various factors before identifying the right entity for incorporation. Kindly share your contact details to pdc.connect@gmail.com or 7021552863. We shall help you out with the same
CA Mehul Aggarwal 24 Apr 2021Hi, in case you're new to business, start with proprietorship as a company or LLP will attract various compliances and huge cost to comply with them. However, there are many other factors to be considered before taking such decision. Kindly get in touch with us at camehulagg (at) gmail (dot) com or call us at 9811896771
CA Naman Maloo 25 Apr 2021I would recommend you to book consultation with expert over call to discuss your requirements in detail and then recommend you a proper option for registration. You can book one at : https://www.taxontips.com/tax-notice-personal-consultation/
T&C apply