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Gurdeep Singh Saini
Hi, i have been trading crypto currency since 4 months. I have been using my savings account for frequent transfers to buy crypto currency. My aggregate credit and debit of my account has crossed 1 crore. But my overall income from this trading is less than 2.5lakh. Will i be subject to tax scrutiny?
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Not really
CA Puja Sharma 19 Apr 2021You should file your tax returns appropriately to save yourself from future tax queries. Because you may get a query for high value transactions. For more information you can connect with us at ca.pujasharma@outlook.com
CA Mehul Aggarwal 24 Apr 2021Hi Gurdeep ji, a taxpayer filing proper returns will never land in trouble. The only way to do it is to hire a professional for this. Ideally, you're not even supposed to file return, but due to high value transactions you may be asked by the income tax department to file a return. For any further information, get in touch at camehulagg (at) gmail (dot) com or call us at 9811 896 771
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Venkat
I am a salaried employee and I am paying 1 lakh per annum as my house rent. My basic pay is around 13 lakhs per annum. Am I eligible to claim HRA? If yes, how much I can claim? Thanks
Yes, you are eligible to claim HRA deduction. The amount would depend upon the HRA component in total salary given by your employer. Further, documents such as Rent agreement and rent receipts should be kept in records. For any further assistance, kindly contact at deepakkucheria@gmail.com
CA Naman Maloo 18 Apr 2021That depends on your pay structure.
You can read more here: https://www.taxontips.com/house-rent-allowance-hra-available-even-when-it-is-not-a-part-of-salary-slip-hra-calculation-calculation-sheet-available/
Yes you claim HRA. We will be needing more details of your salary structure for accurate calculation. You can connect with us at ca.pujasharma@outlook.com
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Shubhankar Whaval
I know that e commerce or business online requires GST registration in Maharashtra. Is GST registration required for posting ads related to your products online on your webiste? What is the criteria for not needing gst registration regarding online adverts.
You can book consultation to discuss more: https://www.taxontips.com/tax-notice-personal-consultation/
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Saba Ali
I am a house wife and I have some savings of near about 10lac rupees so can I invest it in some good mutual funds and long term equity
Yes you can invest in SIPs. Further you can also do some investments via IPOs which are opening up these days. These IPO investments can also be used for long term benefits
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Ahsaan
Hey, I am a managing director of Rajdarbar Hotel, i recently just came to the hospitality industry, i have a query regarding my lift maintenance so there is a gst bill which is of my annual maintenance (AMC) of around ₹56,000 and a bill of the new parts and belts and some lift attachments that have been fitted which costed my around ₹2,65,000, so i wanted to know where should my account mention these two particulars in repair and maintenance of assets of the company
The expenditure of Rs. 2,65,000 if have increased the useful life of the asset then it should be capitalised and added to the cost of the Asset.
Further AMC should be recorded as revenue expenditure and charged to Profit & Loss A/c.
For any other information, you may connect with us at ca.pujasharma@outlook.com
