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Question & Answer


S

Swapnil Mondal

9 Aug 2022

I want to open a current bank account in the name of my brand but all the proofs of my business is in the name of the parent company under which the brand exists. So what to do in this case?

Replies (1)                          

CA Shruti Goyal       15 Aug 2022

Hello
Bank ask for two govt registeration for opening of current account. Further clarification contact cashrutigoyal127@gmail.com

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S

Sachin M Eligar

9 Aug 2022

My self Sachin staying in Mysore. I am a salaried employee of the Central Government and submit ITR-1 every year.
I had invested Rs 8000 per month as SIP from November 2016 to December 2019 in the HDFC TaxSaver-Growth plan. Total NAV units purchased were 596.512, with an average NAV unit price of 496.218. I had shown these investments while filing the returns in the respective years. During Aug 2021, I redeemed 331.123 NAV units and received a total amount of Rs. 2,24,000.

Now while filing IT returns this year, Do I need to show the profit? How do I calculate the profit gained by SIP investment and redemption? If I have to show the profit, which section of IT returns should I show it? Do I get any exemption?

Thank you

Regards
Sachin

Replies (1)                          

CA Shruti Goyal       9 Aug 2022

Capital gain will b attracted.
For further clarifications Plz contact cashrutigoyal127@gmail.com

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D

Dhiraj

8 Aug 2022

Hello,
Recently i recieved some foreign currencies (USD) approx 500USD to my bank account because i doing some freelancing task to foreign company..and bank send FIRC where bank deducted some IGST but as i know there is no gst applicable for providing services to foreign clients.. kindly explain me why IGST is deducted and can i take refund it...
Thank you

Replies (2)                          

CA Puja Sharma       8 Aug 2022

GST can only be refunded if your are a GST registered tax payer.
GST registration is mandatory for service providers if their aggregate tunrover exceeds Rs. 20 Lakhs or 10 Lakhs during the FY.
For more informtaion, you can book consultation with us at ca.pujasharma@outlook.com

DHIRAJ    8 Aug 2022

Thank you mem for explanation..
But one concern that can i never received payment if i dont registered GST if my turnover exceeds 20 lakh from foreign clients?? And the company where i provide services is not registered in india...

Is gst is only mandatory for claim refund in export of service???

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N

Naveen Ambastha

7 Aug 2022

Hi,

I had filed a original ITR with refund of 15910 which ai received.

I wanted to add LTA and medical expenses so I filed revised ITR but I didnt added rest of the things so I got demand notice of 11910.


So I filed again a new REVISED ITR with cleartax and got refund of 36400.
Which I haven't received yet.

What shall I do for the demand notice I got , will it get adjusted automatically in refund amount ?

Replies (1)                          

CA Puja Sharma       8 Aug 2022

Wait for the last filed revised ITR to be processed. The demand will get void when the last ITR gets processed.
For more IT-related matters, you can connect with us at ca.pujasharma@outlook.com

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P

Pritam Kumar

7 Aug 2022

Hello, im an independent contractor and i providing services to the canada based international proprietary trading firm remotely where i trade on company's trading account and company share profit/commission via wire transfer/paypal and Payoneer, so in this case which ITR is most suitable for to file

Thank you

Replies (2)                          

CA Puja Sharma       8 Aug 2022

ITR 3 will apply in your case. For more details, you can connect with us at ca.pujasharma@outloo.com

PritamKumar    8 Aug 2022

Thank you mem...got it๐Ÿ‘

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