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Question & Answer


R

Ranendra Barik

20 Sep 2020

I am not a tax payer but recently I gained short term capital gain of 2 lakh will I have to file itr

Replies (3)                          

CA Naman Maloo       20 Sep 2020

If this is your only income you are not required to file ITR.
If you still wish to file you can book consultation at: https://www.taxontips.com/income-tax-return/

CA Yash Shah       21 Sep 2020

If your total income is more than the taxable income or if you want to get refund of tax, you will have to file else not necessary (but it's always good to file). Please contact on 7045760379 for further clarifications

CA Jaya Agarwal       22 Sep 2020

Dear Sir,
Whether you are a tax-payer or not, you must file return even you have no taxable income. This is useful for other needs like taking loans or for visa purpose or official work.
For more details call at 7667559772, ca.jkagarwal2011@gmail.com

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R

Ranendra Barik

20 Sep 2020

Can i have to file ITR for short or long term capital gain tax?

Replies (4)                          

CA Naman Maloo       20 Sep 2020

That depends on total income.
For more you can visit: https://www.taxontips.com/income-tax-return/

CA Rakshit Jain       20 Sep 2020

Yes you can file ITR, but it will also depend on your other income sources. and also the quantum of gain you having on such transactions. For more discussion you can call @ 9587334442 or mail at rakshit1192@gmail.com

CA Rahul Singhal       21 Sep 2020

yes if your gross total income without deduction crossed the exemption limit then you have to file your itr

CA Rahul Singhal
9910550324

CA Jaya Agarwal       22 Sep 2020

Dear Sir,
Definitely, you need to file return if your total taxable income crosses Rs. 250000/- and if not, then also you should file return for other purposes.
For more details call at 7667559772, ca.jkagarwal2011@gmail.com

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K

Kumar

19 Sep 2020

Affidavit of proof of debt. Filling form 66 and submit

Replies (4)                          

CA Rakshit Jain       19 Sep 2020

Your query is not clear. please elaborate the same. or call @ 9587334442 to discuss the issue.

CA Yash Shah       19 Sep 2020

Hi, you will have to get this notarised and submit. Please clarify on your expectation

Kumar     19 Sep 2020

Sir please note my no.8802828826, to elaborate more, to call or sms your no

CA Jaya Agarwal       22 Sep 2020

Dear Sir,
In Form 66, you need to attach compliance certificate not affidavit of proof of debt. It is a simple format of certification in word signed by CA.
For more details call at 7667559772, ca.jkagarwal2011@gmail.com


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P

Praatyoossh Mehare

19 Sep 2020

I have ordered laptop form Amazon business account for 70k and it shows 60k without GST. Also Amazon gives the facility of input tax credit. So can I get 10k back in my bank account??

Replies (4)                          

CA Yash Shah       19 Sep 2020

Hi, you have rightly said that you can take input tax credit which means that you can set off this against your GST liability if you are GST registered and GST number was provided at the time of purchase

CA Rakshit Jain       19 Sep 2020

The 10K amount won't be credited in your account. It will be added in your input tax credit of GST account only if you have mentioned your correct GST Number to the seller.
For more discussion call @ 9587334442

CA Naman Maloo       20 Sep 2020

You won't get refund but can use it against your outward GST sales.
For more assistance CLICK HERE: https://www.taxontips.com/gst-return-filing/

CA Jaya Agarwal       22 Sep 2020

Dear Sir,
The difference amount is for GST. You can claim gst input if you have taxable gst supply. Otherwise, it will be cancelled, not refunded.
For more details call at 7667559772, ca.jkagarwal2011@gmail.com

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A

Aditya Salvi

17 Sep 2020

I applied for tax collector at source type of GST registration for Amazon seller account which should have been a tax payer registration.How to convert to tax payer registration if it's possible or what other possible choices do I have?

Replies (6)                          

CA Yash Shah       18 Sep 2020

Hi, since the type of registration is different you will have to cancel the tax collector registration and apply for that of tax payer. There is no other option available for change from collector to that of payer

Aditya Salvi    18 Sep 2020

Thank you for the help.But since I have checked the GST portal,tax collector registration are unable to cancel registration via the portal and any other method is not specified anywhere.Is there a way to do that?Also can I apply for the tax payer GST simultaneously with the same PAN card?

CA Yash Shah       18 Sep 2020

Hi Aditya, you can connect at 7045760379. Let me check how to solve this

CA Rakshit Jain       19 Sep 2020

Bothe are diffrent tax system. in TDS you have to deduct tax on payment and in tcs you have to collect tax on sale. You can however apply for tds collector. For more info call @ 9587334442 to discuss the issue.

CA Naman Maloo       20 Sep 2020

You will have to apply again as normal taxpayer.
https://www.taxontips.com/gst-return-filing/

CA Jaya Agarwal       22 Sep 2020

Dear Sir,
First you have to go to process of cancellation of previous registration. When it is cancelled only then you can apply with same PAN, bcoz at a time two GST No. for same PAN cannot be taken.
For more details call at 7667559772, ca.jkagarwal2011@gmail.com

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