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Mohammed Abdulkhader
Hi. For a private ltd investment advisory company, how long can they hold in current account, the collected investment money from investors before it is invested in proposed schemes.
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As per my opinion there is no such restriction. The amount should be deposited in a separate bank account,
Mohammed AbdulKhader 2 Mar 2021I believe this is incorrect. I heard sometime ago from another CA that its about 3 months time that you can hold such funds in an account, then it should reach to its destination.
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Kedar
I haven't filed GST return for the Jan 21 as there were no sales and now I have to create a challan for monthly payment for quarterly filer. What should be the amount which I will have to enter in CGST,IGST, CESS, MH SGST and what is the late fee charge
If you opted for quarterly option under QRMPS then you were not required to file the return in Jan 2021. You will have to file the return collectively at the end of the quarter. However if you opted for monthly return then you can make the payment vide a normal challan. The late filing fee of Rs. 20 per day is applicable for nil return. The fees shall be deposited as Rs. 10 per day under CGST and Rs. 10 per day under SGST.
CA Bharat Kumar 3 Mar 2021If you opted for quarterly option under QRMPS then you were not required to file the return in Jan 2021. You will have to file the return collectively at the end of the quarter. However if you opted for monthly return then you can make the payment vide a normal challan. The late filing fee of Rs. 20 per day is applicable for nil return and Rs. 50 for other than NIL Return
For Further details contact us at 9941188551 tlctaxfiling@gmail.com.
If you are under QRMP scheme and no tax was payable then no need to pay anything or any late fees
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Soujanya D
Itr penalty cancellation
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Kulbhushan
I am full time equity market trader. can i start a firm so that i can receive money from my clients in my account for trading?
You can become a broker. You have to take registration for that.
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Kailash
What is minimum income required to pay tax in india 2021
For individual upto the age of 60 years. threshold limit for income exempted for tax is Rs. 2,50,000.
CA Roomi Gupta 12 Mar 2021Minimum exemption limit is Rs. 250000/- .A rebate of Rs 12,500 will be available for all taxpayers with taxable income up to Rs 5 lakh. For more info contact at ca.roomi12@gmail.com
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