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Akshay
We rent flats. we have 15 flats. we want to convert it into business. can we have renting business registered. or is there any way to show all income under one firm. Please help on this. Thanks a lot in advance.
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Yes you can do that but if you are doing the business as a company you will have make the changes in objects of business and then rent them out and then you will have to also register the same under GST as you will be doing it as business.
If you need any assistance feel free to contact me at canamanmaloo@gmail.com
you can convert it to business or can offer the same income under housing property. it depends on the ownership of flats its with individual or with company....regarding registration there is no restriction under GST Law before taking application kindly insure you enjoy the threshold exemption allowed under GST law....Happy2help email yogesh.kanojiya485@gmail.com
CA Rakshit Jain 8 Jan 2020Yes, you can do it, but for that you have to create a corporate entity and one of the main Object clause in Momorandum of Association needs to be renting of immovable property.
T&C applyS
Sahil
Hi , please help me. I live in a flat shared by 3 tenants including me . The annual share of my rent exceeds Rs 100000 , so the landlord gave me PAN number and PAN copy . But the rent of every month is transferred to the son of Landlord. Is there any problem in claiming HRA in this situation. If there is any problem , then please suggest me solution .
You need to assure that you have
1) The Pan Number and copy of PAN of the person to whom you are paying rent (i.e. son's PAN) .
2) Rent Receipt issued and signed by his son .
If you have both things and your bank statement as proof of payment from your account.
There won't be any trouble at your end.
I think there is no problem if the rent is transfered to the son of landlord. The necessary thing is you have PAN, rent agreement and rent receipt with you from the landlord (signed and attested)
T&C applyM
Maaz Ahmed
Hi
I am undertaking a construction project.
What are the benefits if I take this as a company rather than an individual.
Especially in terms of tax credits.
I am a salaried employee.
Call me at 8906860881
CA Loveseema Sharma 3 Jan 2020A lot more information is needed to decide your query. for example, the amount involved, what kind of construction project it is, etc.
CA Rakshit Jain 8 Jan 2020Corporate tax rate is low as compared to the highest tax slab rate for individuals. There are other benefits also but that may differ from case to case.
T&C applyM
Manish
In joint holding of equity shares where both holders are non working who has to pay the LTCG? Can these gains be offset against any exemptions?
Both holders have to laible to pay LTCG proportionate to their holding percentage.
Manish 3 Jan 2020If I understand correctly it will be 50% for each from the total LTCG. Which can be again offset against 2.5 Lakh tax free income?
CA Loveseema Sharma 3 Jan 2020yes, if you are 50% holders and you can claim basic exemption of 2.5 lakh.
CA Rakshit Jain 8 Jan 2020LTCG liablity will be proportinate to the percentage of holding of such share. Suppose you hold 50 percent shares of the total, then LTCG on you will be 50 percent.
T&C applyS
Shubham Mukherjee
I have missed some sale invoice of 2017 during filing return so can i file return of this invoice in current month.. Please help me out... I asked my CA she said their is no revise option we cannot submit 2017 invoice in current month.. Is their any other option so i can file return for 2017 invoice.
Thanking you,
Shubham Mukherjee
In case a sale invoice has been missed out in GST, would better advise to disclose it in GSTR-9 pay tax via DRC-03 and close.
CA Richa Agarwal 2 Jan 2020Only in annual return for the period
CA Loveseema Sharma 3 Jan 2020You can include it in the annual return to be filed for year 2017. If already filed, then i think nothing can be done.
CA Abhinandan Jain 31 May 20201. If you missed the invoice for 2017, I would suggest you make the payment to govt by filing DRC 03.
2. If this sales was made to b2b customer then he will not get credit of this even after you making a payment because you have filed your returns for 2017-18.
