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Question & Answer


M

Mathan

30 Jan 2023

Trade name and trade mark availability checking

Replies (1)                          

CA Stuti Shah       1 Feb 2023

Connect with us at 9825330911, will be happy to help

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T

Thomas

30 Jan 2023

I have a bought a plot in 1995 for 26500 and i am selling it for 34 lakh. how to manage tax part
.

Replies (2)                          

CA Roomi Gupta       30 Jan 2023

Your transaction fall under Long term capital gain . To save capital gain tax deductions under section 54, 54EC, 54F depends on the type of property can be claimed. For professional help, reach us @ www.tarunguptaca.com or call at 9216216819.

CA Rahul Dwivedi       30 Jan 2023

Dear Thomas,
The profit you are getting is treated as long term capital gain and it can be planned to save the tax. However for that detailed discussion is required to consult you in proper way.
If you are selling Plot than there are different section to save and if you sale house then there are different sec.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377.

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S

Suresh Av

29 Jan 2023

Hello Experts

I have some matrimonial cases are going with my wife. I had agreed to pay X amount (alimony) to my wife before court through settlement agreement
Though I don’t have agreed amount ; my father would be paying on behalf of me from his ancestral properties (shares)
Questions
• Is there way to avoid / reduce the long term capital gain tax from selling of shares? (I guess it’s 10% as of now)
• If there anyway to hide trail transaction? As I don’t want my wife to know about my ancestral property – as precautionary caution.
• If amount (alimony) paid to wife (other than husband) is such amount liable to be taxed by wife? Or will be tax exempted? (i.e considered as capital receipt)

No Reply  


V

Vaibhav Kumar

26 Jan 2023

Hi, I recently gave out a interior work contract to a contractor for my office and he quoted me 3 lakh rupees for all the work including the cost of AC machine,Chairs, desk etc. Now in the final bill he is charging me GST twice, one for all the material used like chairs, desk, wood, glue etc for 30 thousand and 18% above that for his work. i want to ask is this normal practise to charge GST twice on the same invoice ?

Replies (2)                          

CA Deepak Kucheria       28 Jan 2023

No he won't be charging GST twice on a single invoice. Might be he would be charging different GST rates on different supplies depending upon the specific GST rates. That's for sure, that he cannot charge GST twice on the same value. For more detailed information, kindly connect with us at +91-9911744028 or deepakkucheria@gmail.com

CA Roomi Gupta       30 Jan 2023

Contractor should charge GST on his bill only i.e. of Rs. 300000/- however, Contractor can claim input of GST paid on purchase of material used like chairs, desk, wood etc. For more info , reach us @ www.tarunguptaca.com or call at 9216216819

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J

Jay Milak

25 Jan 2023

I have one query, i have a small startup . in that if after deducting and making the balance sheet pnl and all. suppose i have pnl of 5,00,000 . so to not pay any tax can i invest 2,50,000 or buy something worth this amoount . and now i have pnl of 2,50,000 only so do we have to pay tax on them ?

Replies (2)                          

CA Rahul Dwivedi       25 Jan 2023

Dear Jay,
If your income is less then Rs. 5,00,000/- your tax liability will be NIL. You can invest amount in 80C / 80D to save the tax.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377.

CA Roomi Gupta       25 Jan 2023

Dear Jay , Tax liability arise on Total Income during the year even if you have invested and consumed income it is taxable. For more professional consultancy , you can reach us @ www.tarunguptaca.com or call at 9216216819

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