S
Sagar Nayak
Requirements -
Save my assets from future litigations against me by keeping them away from me. some kind of asset protection trust.
Save some double tax on incomes, i want to pay tax after dedcting my expenses. not before. create some kind of company.
I already have a private limited company for my business. my understanding as of now is to create a holding company and may be it can solve the 2nd point of the puzzle. but still no joy on 1st point.
Please suggest.
K
Kavitha
After 7 years I sold my flat in August 21st 2922 and I have 13 lakhs long term capital gain,
To avoid tax, can I buy any site? Or mandatory to buy a flat? And before which date I need to buy?
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You need to buy flat to save capital gain under section 54 or you can invest in bonds. For flat you'll have 2 years to buy and for bonds you'll have 6 months from date of sale.
Read more on: https://www.taxontips.com/is-investing-your-capital-gain-amount-in-bonds-under-section-54ec-still-a-good-option-to-save-capital-gain-tax/
S
Sabasri S
If i complete 9 month of articleship through direct entry and after that j complete CA intern and will that 9 month of articleship will be reduced from 3 years
K
Kavitha
Please can you answer these questions, this is helpful for me and others.
Flat bought 7 years ago with 16 Lakhs and sold in 2022 August for 29 Lakhs. I am housewife and no other income.
Expenses: 7 years back paid 1.5 Lakh registration charges and flat remodelling/furniture (Cupboards/ Kitchen) around 12 Lakhs. For these charges I do not have any bills.
Q 1) Do I need to pay long term capital gains since I do not get any profit after all expenses?
Q2) If need to pay in which year I need to pay LTG tax and how much for this year LTG tax on Flat?
Q3) If I want to buy new property to avoid LTG, do I need to invest only 13 Lakh?
Q4) In this case Can I purchase any Land (site) or buying house is mandatory?
Q5) If it is mandatory and I want to buy before Next year August, right? In this case no need to declare tax in this year, right?
please contact at this 9910550324 number for detailed discussion and clarification.
CA Rahul Dwivedi 3 Sep 2022Dear Kavitha,
Correctly said there is long term capital gain in your case, however the quontum of LTCG can be work out once we get the exact date of Purchase & Sale. Once we get the complete detail then only will be able to guide you how to save the LTCG or might be possible that it can be saved with investments.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377
A
Abdulrehman Mansuri
I'm currently in Qatar and I want to sell smartwatches in India that I purchase here. What will it cost me to import these products to India? And do I need anything other than IEC? I'm not a business owner.
If your sales cross a threshold limit, you might need GST registration as well. For more information, kindly connect with us at deepakkucheria@gmail.com or +91-9911744028
CA Rahul Dwivedi 3 Sep 2022Dear Abdulrehman,
For import of goods GST registration is Mandatory apart from IEC code irrespective of quantum of goods. You have to approach custom broker (CHA) who will assist you in custom clearance.
For further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377
