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Subin VR

Chartered Accountant,FCA, DISA (ICAI)
285 Answers, 2993 Claps, 137968 Views
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What are the ways for the rich to not pay taxes in India without going to Dubai?

Very complex question. But there are many way outs. One of the solution is investment in equity for long term investment. Taxability arise only when you sell the holdings. Tax rate is also as low…

Chat 1 Clap 0 Views 17

How to file a late ITR? I missed filing for assessment year 2021-22, the final deadline for which was Mar 31 2022. I need to file as an individual. I had tax outstanding which I paid but did not file after paying.

You can file an updated return using ITR form U. you have to pay additional tax amount.

Chat 1 Clap 0 Views 10

How can business owners save tax in India?

There are many options with wonderful tax planning. from the base level of routing of expenses and to splitting of business / investment. it all depends on the size of your business.

Chat 1 Clap 0 Views 11

How an NRI does repatriation of funds?

For repatriation of funds mostly you have to file 15CA/CB forms through a CA, if your income is taxable in India. Else you can file a form 15CA part D through Income tax login, and submit these forms…

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Can i reapply my pan card online if I have not received an acknowledgment number after successful submission online?

Yes. But please ensure that your previous application has not been completed.

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Is AO approval not reqd if amount in cg acct. is less than 5 lakhs (interest only ) while closing it?

Required if you are not utllising for the concerned purpose.

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Which bank will allow me to open bank account without pan card?

You can open bank account without PAN by submitting Form 60 in the bank. For opening bank account by online mode almost all banks asks for PAN. You can get Instant E PAN if you adhar is linked to your…

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What is the Goods and Service Tax (GST) refund process for exporters?

You can file RFD 01 through GST Portal for getting refund of Input Tax Credit.

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Am I elegible for major pan card as I have attained 18 years ?

Yes

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My pan card is missing and I don't remember my pan number too. What can I do for getting again my pan number?

The only possible solution is to check with your Banks, Stock Brokers etc; if they had linked PAN with your account you will get you PAN number.

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Owners not providing rental agreement. Can we have GST with only property tax receipt?

No

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We are purchasing 2 adjacent lands registered in name of husband and wife. We are 3 buyers and SR value of site#1 is 40L and site#2 is 35L. Should we deduct TDS while paying to the seller?

If it is done through one document TDS will be applicable

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What is the income tax on a salary of Rs.15 lakhs per annum?

Nearly 2.62 lakhs as per old regime.

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If my salary is paid in crypto, how can I report this tax filing in India since the price of crypto fluctuates?

You can consider the value of crypto on the date of receipt.

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I have sold my plot of 500 sq yds in April 2021 for Rs 37.50 lakhs and I am a senior citizen. Do I have to pay income tax as I have no income except from GST sales in business as manufacturers?

To know your tax liability more details about your property is required, viz date of purchase, amount of purchase etc. If your capital gain and business income for the FY 2021-22 is more than Rs.2.50…

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Do you have to pay income tax on CSIS subsidy of education loan?

How much subsidy you receive in a financial year ?More than Rs.2.50 lakhs ?

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I have received SCN for gst registration stating profession tax details required. What should I reply to the SCN?

Professional tax registration is the matter of your local authority. The registration condition of PT differs from state to state. If you are not liable for PT registration, you can give a response like…

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If i register gst with my home address for online business purpose will local muncipal authority charge property tax chargeble for commercial buildings?

Depends on your business types. Normally you provide service from your home address without change in your building tax pattern. If you are dealing in goods; there is a possibility for a commercial rate;…

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For an NRI, what are the documents required to apply for PAN card ? Can it be done online ?

You can do it with the copies of your Passport. It can be done online.

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While transferring money from NRE to savings account online, will the recipient have to pay tax ?

There is no tax liability for transferring fund from NRE to local account.

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Is it possible to change my savings account to NRE account? What are the documents required?

Not possible. You have to open new NRE Account with a bank by providing your Visa details.

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My GST application has been to the assigned center. It is a week now but the Gst is not approved yet.Why?

Normally it will take 1-2 weeks to get an approval from GST Dept.

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Received this query for GST registration - Promoters/Partners - Document Upload - Others (Please specify) - upload ownership proof of the document residence. But i think residence proof not require. What should i reply to it?

You can upload proof of ownership such as Building Tax paid challan, BSNL Bill, Electricity Bills etc which is addressed to you as a proof of your ownership to the building.

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I worked in UK from Feb 1st 2020 till Jan 30th 2021, moved back to India on 31st Jan 2021. After moving to India my employer deducted the taxes for whole year again in India. Which means I have paid taxes in UK and even though I'm not in India, taxes were deducted. Would like to know whether I claim refund on tax deducted in India while filing?

Whether your employer in India & UK is same person ?Even though keeping the NRI status you will be taxed in India from Feb & March 2021.If extra Tax deducted; you can claim as refund.

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Sales data was missed in GSTR1. Can we show those sales in in 3B directly without entering in gstr1?

Yes; you can. Later on you can alter the GSTR1 while filing next month GSTR1

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I want to do a franchise dealership with other companies. Can I get gst registration even though I'm a student?

You can get GST registration even though you are a student.PAN is mandatory.

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സ്വന്തം പേരിലും കമ്പനിയുടെ എം.ഡി. എന്ന നിലക്കും രണ്ട് ആധാര പ്രകാരം രണ്ട് ഭൂമി ഉണ്ടെങ്കിൽ അവക്ക് വേറെ വേറെ തണ്ടപ്പേർ നമ്പർ ലഭിക്കുമോ?

Yes.

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Do we need to link Aadhar card to mobile number to get Pan card?

For getting PAN card through online route (E PAN) you have to mandatorily link your Adhar card with mobile. E PAN is generating based on the Adhar OTP you will be receiving at your Aadhar linked mobile…

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Do we get cheque book or atm card with capital gain account type A. How we transfer money to contractor? Do we need bills for that?

Most probably cheque book/ATM will not be available with Capital Gain Account Schemes. Your bank manager will transfer fund to contractor upon verifying the authenticity of transactions. A contract agreement…

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What is GST?

Goods & Service Tax is a tax on supply of goods/services by one person to another. It is the major  Indirect Tax Revenue of India.

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How to delink my Aadhar card from my PAN card and surrender the pan card?

A person can not surrender his PAN card; it is valid for his life time. Only entities other than natural person can surrender PAN, that too on on its non existence viz dissolution, amalgamation, business…

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By mistake, I link my pancard to my wife Aadharcard. How can I change?

Don't worry. It will not get linked. For linking PAN to Adhar many parameters have to match viz your name, year of birth etc.

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Is there any tax problem if I accept Dogecoin in my shop in India from the customers?

No tax problems at all. If there is gain from your investments; you have to pay tax. Thats all.

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How to get Income certificate if i am in some sort of business and don't have income report ?

You can simply file an Income Tax Return, which itself is a solid proof of your annual income.You can have your  books of accounts for supporting your income.

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Can I do crypto trading in my company account ?

It depends on the objectives of the company. If investment/trading is one of the objective, then you can do it.

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Is it legal to trade in cryptocurrency in India ?

There is no illegality as of now.

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I'm from Pathanamthitta Kozencherry Taluk. What's my Ao code ?

What is your purpose. For income tax or GST ? For both You can find in google

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ഞാൻ എൻടെ NRI അക്കൌണ്ടിൽ നിന്നും ഭാര്യയുടെ SB അക്കൌണ്ടിൽ ചിലവിനായി മാസംതോറും ട്രാൻഫർ ചെയ്യുന്ന amount വർഷത്തിൽ 5 ലക്ഷത്തിൽ കൂടുതല് ആയാൽ ഭാര്യ യുടെ വരുമാനത്തിൽ പെടുമോ അതിന് ഭാര്യ നികുതി കോടുക്കേണ്ടതുണ്ടോ?

No tax on such transactions, since it is not her income.

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Can anybody with capital gains use ITR-4 Sugam?

Not possible. Have to use ITR 3. And can claim presumptive income slab at ITR 3.

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Teacher and doing share market Intraday trading which form should be used?

ITR 3.Please check this video to see the  points to be taken care while filing Income Tax Return in case of share trading transactions.

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Which ITR can be used for self employed Tile setter?

If self employed, ITR 3.Please check this video to see the  points to be taken care while filing Income Tax Return in case of share trading transactions.

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I’m an NRI, do I need to apply for ITR? I am using my wife’s saving account for trading, how to file ITR in her name? If my wife PF is in loss, still I should file ITR?

From the very limited information you had given, i think it is better to file IT Return in your wife's name. You will get the benefit of carry forward loss, if you file return in time.

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An NRE investors total short term gain from debt Mutual funds is around Rs.60000. Mutual fund company deducted tax @30%. The NRE investor has no other domestic income. If he file his IT return, will he able to get back TDS amount?

Sure. He will get refund.Please check this video to check whether an NRI is liable to file Income Tax Return.

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Bank loan ullavar incometax return cheyyendi varuo?

Ningalude income 2.50 lakhs nu mukalil anenkil Return file cheyyanam. Loan undenkil polum.Please check this video to check whether an NRI is liable to file Income Tax Return.

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What is the Difference between Nre & Nro A/c?

In NRE account one can only make remittance from outside India. NRO is just like a normal savings account; can make remittance from inside India too.Please check this video to check whether an NRI is…

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I am non resident living abroad want to sale my property valued less than ₹50 lakhs to another NRI.Is there any need for me to pay TDS& what is it's percentage of tax?

For NRIs normally 20% TDS will apply on sale amount.Please check this video to check whether an NRI is liable to file Income Tax Return.

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Njan foreign companykku vendi work from home vazhi job cheyyunnund. Avarude oru officeum India il illa. Avar enikk avide tax adakkadheyanu ente payment tharunnadhu. Appol njan india yil tax adakkano?. Njan edhuvare India yude purathu pooyittumilla.

Salary above 2.50 lakhs per annum anenkil indiayil tax return file cheyyanamPlease check this video to check whether an NRI is liable to file Income Tax Return.

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Ksfe പ്രവാസി ചിട്ടി fd ആയി  ഇട്ടപ്പോൾ  tds  decleration  കൊടുക്കാൻ  പറഞ്ഞു .30 percent  kanikkunnu.അതിനു  ഇൻകം ടടാക്സ് റിട്ടേൺ ഫയൽ  ചെയ്യണോ?

Return file cheythal TDS thirichu kittan possibility undu.Please check this video to check whether an NRI is liable to file Income Tax Return.

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എന്റെ NRO FD യിൽ നിന്നും TDS പിടിച്ചു. അത് refund കിട്ടാൻ ഏതു ITR no. ഫോം ആണ് ഫയൽ ചെയ്യണ്ടത് ?

NRI anenkil ITR 2 form aanu use cheyyendathu.Please check this video to check whether an NRI is liable to file Income Tax Return.

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I have Indian resident pancard but now I am working in UAE. How can I change my pancard to non resident or Can I register my old pancard in efiling website ?

Not necessary to change the pan card to non resident. You can show your non residence status while filing return.Please check this video to check whether an NRI is liable to file Income Tax Return.

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ബാങ്കിൽ 10 ലക്ഷത്തിൽ കൂടുതൽ രൂപ പണമായി നിക്ഷേപിച്ചു എന്ന് കാണിച്ചു ഇൻകം ടാക്സിൽ നിന്നും നോട്ടീസ് വന്നു. ഏതൊക്കെ സാഹചര്യങ്ങളിലാണ് ഒരാൾക്ക് ഇൻകം ടാക്‌സ് നോട്ടീസ് വരുന്നത് ?

ഇൻകം ടാക്‌സ് ഡിപ്പാർട്മെന്റ് ഓരോരുത്തരുടെയും പണമിടപാടുകൾ മോണിറ്റർ ചെയ്യുന്നുണ്ട്. ഒരുപാടു തരത്തിലുള്ള ഇടപാടുകൾ ഉദാ: ബാങ്കിൽ 10 ലക്ഷത്തിൽ കൂടുതൽ രൂപ പണമായി നിക്ഷേപിക്കൽ, ഷെയർ ട്രേഡിങ്ങ് ഇടപാടുകൾ,…

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പലിശ ഇല്ലാതെ പണം ലഭിക്കുന്ന വഴികൾ ഉണ്ടോ ?

ഉണ്ട്. മുടക്ക ചിട്ടികളിൽ വളരെ ശ്രദ്ധാപൂർവം നിക്ഷേപിച്ചാൽ പലിശ ഇല്ലാതെ പണം ലഭിക്കാനുള്ള വഴികൾ ഉണ്ട്. കൂടുതൽ അറിയാനായി കാണുക.

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How an NRI does repatriation of funds?

For repatriation of funds mostly you have to file 15CA/CB forms through a CA, if your income is taxable in India. Else you can file a form 15CA part D through Income tax login, and submit these forms…

Chat 1 Clap 0 Views 7

How can business owners save tax in India?

There are many options with wonderful tax planning. from the base level of routing of expenses and to splitting of business / investment. it all depends on the size of your business.

Chat 1 Clap 0 Views 11

How to file a late ITR? I missed filing for assessment year 2021-22, the final deadline for which was Mar 31 2022. I need to file as an individual. I had tax outstanding which I paid but did not file after paying.

You can file an updated return using ITR form U. you have to pay additional tax amount.

Chat 1 Clap 0 Views 10

What are the ways for the rich to not pay taxes in India without going to Dubai?

Very complex question. But there are many way outs. One of the solution is investment in equity for long term investment. Taxability arise only when you sell the holdings. Tax rate is also as low…

Chat 1 Clap 0 Views 17

My pan card is missing and I don't remember my pan number too. What can I do for getting again my pan number?

The only possible solution is to check with your Banks, Stock Brokers etc; if they had linked PAN with your account you will get you PAN number.

Chat 1 Clap 0 Views 21
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