Answered on January 22,2018
To register a section 8 company, you are required to file Form INC-1 for name availability. Once the name is approved, there is a further requirement of obtaining a license for a Section 8 Company, for which Form INC-12 is to be filed by such a company. After obtaining the license number, you can proceed further to incorporate a company by filing INC-7 (in case number of subscribers are more than seven) along with linked forms as the case may be.
- Is a proposed Section 8 company required to file eMOA (INC-33), eAOA (INC-34) along with SPICe (INC-32)?
- I am an NRI settled in Canada (with permanent residency) since the last two years. I had no Indian income in Financial Year FY 2018-2019 but had a home loan (self-occupied) before leaving. The home loan got over in October 2018. Do I get any deduction for home loan interest payment for the period April-October 2018 under Section 24B? Do I get any deductions under Section 80C for principal amount paid in FY19? Do I get a deduction for that? I am a little confused as there is no income. Will these tax deductions result in any refund?
- A person has INR 16 lakh as his total income in Germany. According to RBI rates, INR 4 lakh is already paid in taxes in Germany, income of INR 2.5 lakh in India. Which ITR will he need to file—ITR 1 or ITR 2? Will Form 67 also need to be submitted along with it? How will the tax be computed? Can the person get complete relief of INR 4 lakh as per Section 91A or will he get relief only under Section 90?
- If a declaration of undisclosed income is made under the Scheme and the same was found ineligible due to the reasons listed in section 196 of the Finance Act, 2016, then will the person be liable for consequences under section 197(c) of the Finance Act, 2?
- Can a person engaged in a profession as prescribed under section 44AA(1) adopt the presumptive taxation scheme of section 44AD?
- If a person adopts the presumptive taxation scheme of section 44AD, then is he required to maintain books of account as per section 44AA?
- If a person adopts the presumptive taxation scheme of section 44AD, then is he liable to pay advance tax in respect of income from business covered under section 44AD?