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Rilwan Ahmed
My monthly salary 50k. My cousin uses MY credit card for more than ₹1lac/month repeatedly. Does it affect me in my case like Income tax etc?
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If your monthly salary is 50 K and you spend 1 lakh from your card, you will have to show the additional 50 K as income in your IT returns and pay taxes on that.
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Abhishek Panda
Hi, My father suffered a hearing disability in both his ears last year and was unable to hear at all. I paid for his cochlear implant surgery. Can I claim my expenses as deductions from my income tax under Section 80 DD capped at 125,000 for treatment of individual with severe disability? Thanks.
Claim: If your father is dependent on you then you can claim these expenses u/s 80DD for your IT return.
Severe disability: Hearing impairement is allowed to be claimed, you may opt to take a diability certificate from government certified medical practitioner to aviod any confusions later.
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Nitin Kedia
Hi. We are a startup incorporated on 16.06.2015. We are an online portal for bulk exports of products from India by the name of www.ostabay.com.
We are looking to register ourselves under the Start Up India Scheme. Looking for someone who can help us do that.
Looking forward to your replies.
Regards.
Hi, You can contact CA Ankit Rungta, he will connect you to the right incubators office
https://www.finaco.in/ca_listing_profile.php?userprofile=finaco_ca_1492270903
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Mahitha Ck
Hello,
We have taken a place for rent of 35000 for a cafe and the owner is insisting not to deduct TDS now as the limit will be raised from June. When that happens we won't have to pay any TDS. So he doesn't want to haggle with the government by paying now and reclaiming it later. But he's saying if that rule doesn't change and the current rule continues, we can pay at a shot the said TDS + interest.
Wanted to know if that's okay and would it affect us in any way?
Is it possible to pay TDS after 3 months with the interest?
We are starting as a unregistered partnership so, for the accounts to get audited is there any turnover limit for our business?
Hi, Yes you can pay the TDS for three months at one go with interest and there is no impact on you. Try not to pay later than 7'th July as a return needs to filed for the quarter, which may make it a little more complex.
The turnover limit for Tax Audit is 1 crore but if you fall under section 44 AD for presumptive taxation the limit is 2 crore
Hi
I suggest you should deduct tax immediately and not wait till June
Limit for tax audit is RS 2 cr, but if u wanna claim profit less than 8% then u need to get your books audited even if turnover is less than 2 cr
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Manoj Arveti
Hi i am an newly join IT employee and want to do my IT returns what are the documents needed for it.
You need a Form 16 from your employer
CA Arvind Khemka 19 Jun 2017Hi
You need form 16 and bank statement. That should be sufficient e
