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Sanyam Jain
Hello,
I currently operate a sole-proprietorship firm in India, and for this FY [2021-22], I will be deemed 'NRI'.
I have read and heard conflicting information about whether an NRI can operate a sole-proprietorship firm in India. Can someone please confirm if I as an NRI can continue to operate my firm and if yes, based on which regulation is it permitted and which other regulatory requirements would I need to be mindful of?
Best, Sanyam
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NRI can open the sole proprietorship business in India however that is very controlled and might likewise require earlier authorization from the administration to begin. As such, if any NRI needs to begin a sole proprietorship business, at that point he should need to take earlier authorization from the administration first or else he have to contribute on non repatriation premise i.e. sum once contributed can't be reclaimed to the nation outside India.
The interest in sole proprietorship business can be separated into three sections:
Interest in a firm or a restrictive worry in India on non repatriation premise.
Interest in firm or restrictive worry in India on repatriation premise.
Venture by out-of-state people other than NRIs/PIOs
For more details mail us on jrcojaipur@gmail.com
S
Sanyam Jain
Hello,
I currently operate a sole-proprietorship firm in India, and for this FY [2021-22], I will be deemed 'NRI'.
I have read and heard conflicting information about whether an NRI can operate a sole-proprietorship firm in India. Can someone please confirm if I as an NRI can continue to operate my firm and if yes, based on which regulation is it permitted and which other regulatory requirements would I need to be mindful of?
Best, Sanyam
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Dr. Ajay Goila
I have sold three properties and bought one, will the LTCG from all three properites can be adjusted in one newly bought property?what is the IT rule for this?
Yes,
If all other conditions are satisfied. for more details call me on 9929511888
O
Omkar Jadhav
I want deduction for medical expenditure but its doesnt showing on forum 16
Hi, you need to file your ITR wherein you can claim the said deduction. For more information, please feel free to contact camehulagg@gmail.com or 9811896771
CA Rohit Jain 10 Sep 2021You can claim it in ur ITR form. For more information, please feel free to contact 9929511888
T&C applyS
Somashekhar
My brother in law(wife's brother) has earned 2 crore through commission and received the amount after TDS deduction form a company account into his saving account. He wishes to provide me 1 crore. what is the process should we execute and gift deed? what are the implications of income tax.
Your brother in law should transfer the said amount in your wife's account. In such a case, income tax will not be applicable. No gift deed to be executed. For more information, please feel free to contact us on 9811896771 or camehulagg@gmail.com
CA Rohit Jain 10 Sep 2021Brother can gift any amount as gift to sister. Better to execute a gift deed as an documentary evidence. For more information, please feel free to contact on 9929511888
T&C apply
