Hi Professionals,
One of the LLP’s principal business is to provide investment advisory and for this financial year (2019-20) the income from the investment is more than 50% of the gross income. Does it fall under the purview of NBFC?
Please advise?
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Please, someone, give a brief about it and on which it is applicable
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An assessee had filled his return of income for AY 2017-18 declaring income u/s 44AD. In AY 2018-19, his turnover was more than Rs. 1 crore and get his books of account audited by declaring income @ 6.3%. In AY 2019-20, his total turnover was Rs. 2497000/- and all of the receipts were by the bank. Declared profit @ 6.28%. He had received around Rs. 1,48,000/- as an interest income (Income from Other sources). Loss from House property was (Interest on Housing Loan - Rs. 1,22,000/-).
His Gross total income comes to below the basic exemption limit of Rs. 2,50,000/- after set-off of loss from house property. In this case, does he need to get audited his books of accounts as he was not eligible to opt-in u/s 44AD and total turnover was below 1 crore, declared income less than 8% (But More than 6% as turnover was through banking channel) and Gross total income was below Rs. 250000 after set-off of loss from house property and before claiming deduction under chapter VI.?
While Issuing FORM 3, need to consider income and Expenditure of Land Owner Also?
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A Taxdeductor has received Form 15H for no deduction of TDS on Interest income of Rs 496000- for Fin Year 2019-20 on 25-3-20. Interest is credited on 31-3-20. By which date Form 15H can be E-filed on Portal Is there any relaxation in current Scenerioas DSC is required for same
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Hi
Any One having Exposure in Nidhi Company Post Incorporation Compliances for Income Tax , GST etc..
Also if any Nidhi Company is formed in Feb Mid can we take provision of 18 Months into consideration...?
"For further reference or any query, Please feel free to contact us."
Can anyone provide format of estimated income and expense statement for incorporation of section 8 company.
Dear All.
As per Section 115BAB of Income Tax Act, Income tax on new domestic company incorporated on or after 1st October 2019 be 15 %.
Is that provision will also be applicable if we convert partnership firm into private limited company under part I of Companies Act,2013 ?
Thanks & Regards,
Dear All.
As per Section 115BAB of Income Tax Act, Income tax on new domestic company incorporated on or after 1st October 2019 be 15 %.
Is that provision will also be applicable if we convert partnership firm into private limited company under part I of Companies Act,2013 ?
Can money transferred between a private limited company and LLP in which both director and designated partner are same, Deemed Dividend under Section 2(22)(e) of income tax act is applicable or not
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