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Bhargav Nayak
Hello sir, my name is bhargav nayak from gujarat. sir i applied for two pan card for starting my company on partnership deed, but unfortunately i am not open bank account on that pan card, and work with different company which own by me, now i have two pan card which is not operated by me as well as anyone else, now my question is am i still have to file ITR on that pan card, if yes than how because i have not bank account on that pan card, or any financial transaction on that pan card.
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Mr Bhargav your query is not clear as to whether you have two PAN cards for your firm?
Better would be to consult me at mail vmassociates2017@yahoo.com
Sir if you are not doing any business on such PAN its better to surrender that PAN but if you are going to hold that PAN then as per income tax act you have to compulsorily file return even if its NIL return.
If you need any further assistance feel free to contact me at canamanmaloo@gmail.com
K
Kedar Nath Sharan
What is maximum tax rebate I can get in house loan interest. If house is rented.
maximum 150000 for principle part in 80 c and Rs 200000 in 24 (b) for interest part
CA Roomi Gupta 30 Jul 2019No limit for rented house and Rs. 200000 for self occupied house
CA Naman Maloo 30 Jul 2019Maximum 1.5 lakh for principal part in section 80C and no limit for interest for rented house.
For more details feel free to contact me at canamanmaloo@gmail.com
V
V Banamigi
When I as in USA last year I had purchased some gold worth 10 lakhs online in Indian for wedding using my USA debit card, however now that I want to sell them do I have to pay income tax? since I have already paid it in USA.
I have recently returned to INDIA and I have no income in INDIA from past 4 years
G
Gopalkrishna Bhat
I had filed ITR 2 for previous year (AY 2018 19) because I had capital losses to report. For current year, (AY 2019 20), I do not have any capital gains/losses and
hence thinking of submitting ITR 1.
Queries:
1. If I submit I TR 1 this year, will the capital losses that I had shown last year elapse or get carry forwarded. Can you
please confirm .
2. Assuming that I get some capital gains next year (AY 2020 21), will I be able to offset the capital gains with capital losses from AY 2018 19.
For this to happen, do I have to submit ITR 2 only for current year (AY 2019 20), or submitting ITR 1 is enough? Please help.
You can file ITR 1this year and when you will get any capital gain, your loss of last year can be offset in 5 consecutive years
CA Roomi Gupta 30 Jul 2019In my view ITR 2 is to filed for carry forward of capital loss in future
CA Naman Maloo 30 Jul 2019You dont need to file ITR 2 just to carry forward losses.
You can set off such losses next year.
M
Mukesh Saxena
I want to start proprietorship firm, kindly suggest me what is the process and documents required for proprietorship firm.
It depends on the type of your business normally you can start it with just your PAN card and current account but in some cases you might also require GST registration, shop act registration etc.
If you need any professional assistance feel free to contact me at canamanmaloo@gmail.com
You need to take Firm name and bank account number, trade license, PAN of proprietor, I'd and address proof of proprietor, rent agreement of firm address....if owned electricity bill in proprietor name, GST registration.
CA Roomi Gupta 30 Jul 2019You can start your business with your personal PAN & saving bank account but it will be good to open current account. To open current account you required registration under any act. For any kind of professional assistance can contact at our website : www.tarunguptaca.com
T&C apply
