Advantages of registration in Bombay shop act1948 over ITR4
This query is : Resolved
24 September 2008
A man is working as an environmental researcher in Gujarat. He applies to research funded by some govt. as well as non-govt organisation. He gets paid thru cheque after he submits the report(after he does the research).
He has been filing in ITR-4. Now his tax advisor suggests him to register under Bombay shop......act 1948 for a single propietary consultancy firm.
Will this enable him to enjoy greater benefits? if yes or no; and in what way?
What will be the adv and dis-adv?
He has been filing in ITR-4. Now his tax advisor suggests him to register under Bombay shop......act 1948 for a single propietary consultancy firm.
Will this enable him to enjoy greater benefits? if yes or no; and in what way?
What will be the adv and dis-adv?
24 September 2008
the law's name is Bombay Shops & Establishment Act, 1948.
Will he have to pay Professional tax?
Will he have to pay service tax?
Will he have to apply for another pan card for the firm?
Plz answer in detail abt how he may get more tax benefits?
Will he have to pay Professional tax?
Will he have to pay service tax?
Will he have to apply for another pan card for the firm?
Plz answer in detail abt how he may get more tax benefits?
26 September 2008
1. Yes.
2. Yes.
3. No
The advantage is he can claim all expenditure relating to his profession
2. Yes.
3. No
The advantage is he can claim all expenditure relating to his profession
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Gift Received from nonblood relative
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
