Question & Answer

CA Akash Agarwal       10 Feb 2017

http://taxguru.in/goods-and-service-tax/dvat-registration-online-process-2015.html

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CA Akash Agarwal       27 Jan 2017

It depends on what Investment it is, will give you few examples:
1) If you have income from rent, dividend, interest, or others, You need to have a NRO account
2) If you want to send money back to India after moving, you will need to open a non-resident external (NRE) account.
3) Fixed, recurring deposits: if you have sufficient funds in the account for auto deductions no issue, otherwise you can link your NRO account.
4) Loans and credit cards: You can continue repaying loans through the NRO or NRE account. But can pay credit card bills only through NRO account.
5) Mutual funds: Ongoing systematic investment plans can continue with money from an NRO account. “But do remember that not all fund houses allow you to invest from abroad when your status changes to NRI. For instance, if you are going to Canada or the US, many fund houses will ask you to redeem the entire investment. But some allow you to hold.
6) Small savings: If you have invested in Public Provident Fund (PPF), you can continue the existing account. “But as an NRI, you won’t be able to open a new PPF account.
7) Shares and bonds: “You can invest or trade in stocks only through the portfolio investment scheme (PIS) of the RBI (Reserve Bank of India).

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CA Rahul Khatuwala       13 Jan 2017

Please clarify on your question, Trust for what purpose, whether registered under sec 12 A for IT Act ?

RITESHGUPTA    13 Jan 2017

Trust for saving the money of my child for future and upon attaining 18years we will handover it to him. also gifts and other investments can be done under it

CA Rahul Khatuwala       16 Jan 2017

You can create a private trust for this purpose, But normally a private trust is made for minor in case of a Property inheritance.
I am not sure if there is any benefit by making such trust. Rather if you invest that amount you may get better returns in 16 years.

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CA Rahul Khatuwala       13 Jan 2017

Assuming it is Long Term Capital Gain:
There are two sections for claiming exemptions under Section 54 and Section 54F
(1)Exemption under Section 54 is available on long-term Capital Gain on sale of a House Property.
(2)Exemption under Section 54F is available on long-term Capital Gain on sale of any asset other than a House Property.
There are certain requirements to be fulfilled for both the sections

RITESHGUPTA    13 Jan 2017

as i said i have bought it under the company and i am treating it as stock and depreciating its value every year so i dont think so LTCG will come under existence

CA Rahul Khatuwala       16 Jan 2017

Then it will be your business profit, You can claim expenses directly related to the property, Not sure of any way to save tax on business profits

CA Arvind Khemka       15 Feb 2017

if the company does not have any other asset and you are not in need of this company anymore, you can sell out the company itself. The property will automatically be transferred

CA Arvind Khemka       15 Feb 2017

if the company does not have any other asset and you are not in need of this company anymore, you can sell out the company itself. The property will automatically be transferred

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CA Rahul Khatuwala       4 Jan 2017

In case you are CA/CA Article: You can login from your CA/CA Article profile and go to article section and post your requirement

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