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Question & Answer


S

Shubhankar Whaval

13 Apr 2021

I know that e commerce or business online requires GST registration in Maharashtra. Is GST registration required for posting ads related to your products online on your webiste? What is the criteria for not needing gst registration regarding online adverts.

Replies (1)                          

CA Naman Maloo       18 Apr 2021

You can book consultation to discuss more: https://www.taxontips.com/tax-notice-personal-consultation/

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S

Saba Ali

9 Apr 2021

I am a house wife and I have some savings of near about 10lac rupees so can I invest it in some good mutual funds and long term equity

Replies (1)                          

CA Puja Sharma       9 Apr 2021

Yes you can invest in SIPs. Further you can also do some investments via IPOs which are opening up these days. These IPO investments can also be used for long term benefits

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A

Ahsaan

8 Apr 2021

Hey, I am a managing director of Rajdarbar Hotel, i recently just came to the hospitality industry, i have a query regarding my lift maintenance so there is a gst bill which is of my annual maintenance (AMC) of around ₹56,000 and a bill of the new parts and belts and some lift attachments that have been fitted which costed my around ₹2,65,000, so i wanted to know where should my account mention these two particulars in repair and maintenance of assets of the company

Replies (1)                          

CA Puja Sharma       9 Apr 2021

The expenditure of Rs. 2,65,000 if have increased the useful life of the asset then it should be capitalised and added to the cost of the Asset.
Further AMC should be recorded as revenue expenditure and charged to Profit & Loss A/c.
For any other information, you may connect with us at ca.pujasharma@outlook.com

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R

Rammohan

8 Apr 2021

Hi, I work in European company and due to family health emergency working from India from last Sept 2020, my salary is paid in EURO after TDS in an Salary account in EUROPE, my employeer does not have presence in India and hence asked me to check and be in local tax compliance, Please let me know if I need to Pay / Submit or seek any confirmation from Intian Tax Authority that I need not pay tax in India considering the mode of my employment, one additional point to consider is until July 2020 I was working in an Indian company. Thanks Ram

Replies (1)                          

CA Naman Maloo       18 Apr 2021

You are resident as per Indian income tax act and you might have to pay tax on such income in India.
For more please contact: https://www.taxontips.com/tax-notice-personal-consultation/

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G

Gaurav

6 Apr 2021

Hi,
For AY 2020-21, I have received the notification about the high value transaction for saving and term deposit interest rate on compliance portal under e-campaign category.
I have responded on compliance portal and paid the pending tax amount.
But I am not being able to fill the revised return as 31st March 2021 date is over now.
Only option, it is showing is 119(2) or 92cd.
What are the options now?
Should I wait for any notice from income tax or do I need to contact someone?

Replies (3)                          

CA Puja Sharma       6 Apr 2021

You can apply for condonation request and then file your return.

CA Jaya Agarwal       6 Apr 2021

No need to file return. For more details contact 7667559772

CA Naman Maloo       18 Apr 2021

Read here: https://www.taxontips.com/received-high-value-transaction-message-for-fy-2019-20-but-cannot-do-anything-as-no-revised-return-can-be-filed-now-lets-discuss/

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