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Jayen Barochia
I was NRI For last 5 years and returning India in this June. I have some amount in my NRE account in which interest was non taxable till date. But after returning, it will be taxable. So how can I save the taxes on interest while keeping it in bank, as I need some constant income from interest from bank at the same time from FD. (not withdraw for other investment). Myself and my wife, both are PAN card holder. (NRE account is currently in my name, my wife don't have bank account. Is it possible to transfer some amount to my wife's account to have lower tax slab. Although she is not working or earning. Please let me know how to manage 2,00,00,000 Rs. without paying or paying minimum possible tax. Considering, no other income other than interest.
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Hello Jayen, Can you call on 8707297344 ? Would be able to explain the whole thing better over call.
CA Naman Maloo 30 Apr 2019you can create your HUF in india and save some tax by getting another slab rate of 2.5 lakh.
Gifting an amount to wife is not a great idea i guess because the income will be clubbed in your wifes income.
You can invest some amount in 5 years FD to get some deduction u/s 80C.
for further discussion you can mail me at canamanmaloo@gmail.com
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Amit Sagare
Greetings!
I had booked an Flat in Navi Mumbai,Maharashtra in May 2017,before GST came in to Effect.i had paid half of the total Flat cost then.Now in 2019 to do the registration process the builder recomends to do registration as per 8% GST & rest remaining amount also to be paid as per 8% GST.As per the latest GST rate for realty sector its reduced from 8% to 4% w.e.f 01 Apr 2019.So i need a proper guidance on how to approach this issue,as i dont want to end up paying any extra amount.
Amit
So are you making the remaining payment now? If yes then you need to ask the builder whether he has opted for new scheme or not as the ongoing projects have the option whether they want to go for new scheme or not. The new rates are 1% and 5% there is no rate as 4% and as your builder was charging 8% earlier it means he is under affordable housing scheme therefore if he has opted for new scheme he should charge 1%.
AMIT SAGARE 27 Apr 2019yes i am doing the remaining payment & registration now,as in May 2017 the project was just launched,and they took time to get OC for the project.The registration process has now started from April 2019,So it means under affordable housing scheme & if builder has not opted for new GST scheme than technically he should charge only 5 %.pls correct me if am wrong
CA Naman Maloo 27 Apr 2019If he has not opted for new scheme then under affordable housing the rate is 8%.
Earlier there were 2 rates 12% for normal house and 8% for affordable housing and not they are 5% and 1% respectively.
Hope this helps if you need any consultation you can mail me at canamanmaloo@gmail.com
Thnk u for the clearing my doubt,it seems i will have to pay as per the 8% rate only,as he has not opted for new scheme,i was under the impression since i made half payment before actual GST came in effect i will have some resort.Thank u agn
CA Naman Maloo 27 Apr 2019Your welcome.
If you need any other consultation you can directly contact me or if you need any paid services also you can contact me.
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Wictor
Thanks for the reply sir.
A) Kindly let me know the total cost or charges for incorporation of a private limited company with two directors (ROC plus auditor fees)
B) what would be the total charges for obtaining business commencement certificate for the same private limited company with two directors
This vary according to state and state and many other factors.. For your information prices are Rs 10k onwards.. for better understanding you can reach me over call pr whats app 9718046555
CA Damini Agarwal 27 Apr 2019A) Incorporation fee: 7,500 all inclusive and ROC with audit fees will vary depending on the turnover for each year.
B) Commencement certificate charges shall be INR 1500/-.
For more details, please feel free to connect on 8707297344
Hi Wictor, any update ?
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Shoaib M
I am a sole proprietor and have started my company recently. Initially, I had not opened a current account with bank, and in the early days of my business, I had made some purchases (Machinery) and also incurred miscellaneous expenses, and paid for them using my savings bank account. Please advise on how can I treat this in my books of accounts? At present, I am only using my current bank account for all business transactions.
There is no issue that from where you have made the business expenditure.
You can account those expenses in your books.
So technically you just want to know how to present them in your books of accounts as the savings bank account is not available in your books of business. So you can debit expense and credit capital account while making accounting entries and same way for asset's.
If you need any further assistance or professional consultancy you can contact me.
Dear Sir,
Do i need to maintain my SB account under the Bank Group head in my books of accounts? I do not intend to use my SB account for business purpose, and hence, I do not want it to reflect in my balance sheets. Should I treat it as Capital infused by owner? If yes, what would be the accounting entries for payments made through SB accounts?
I have explained the entry above please check my reply
CA Richa Agarwal 27 Apr 2019yes. it will be treated as capital infused. your sb account will be shown in ur personal balance sheet and not in the business b/s.
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Kushal Ashok Jain
Yes Sir CA Naman Maloo..
But I think As Per Govt Now We Have Limit Of 5 Lakhs To Our Account..
And If I didnt Exceed That Limit I can Enjoy My Full Amount Upto 5Lakhs.??
Yes sir the limit is 5 lakh but there are other conditions attached so I would recommend you if you really want a consultation you can book one because you will have to pay some tax trust me.
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