Ram
31 August 2021 at 14:01

Investment in a LLp

There is a offer of 25% stake in a LLP for Rs. 1 cr for a new partner. The present capital is Rs.10.00 lakhs held by 2 techie founders say 50% - 50% . How to take the investment and structure the stake ?


bhuvana

Sir,
my father expired at the age of 84 in June 2021. His pension & intetest income is more than 2,50,000/- for FY 2020-21. Should we file IT return for him??


mahesh
31 August 2021 at 12:35

Nil rated goods Input can Take or not?

Can we taken input in Nil rated goods like shovel or agricultural goods?


Catherine

Dear Sir/Madam,

Kindly clarify my doubt regarding the below query:
Renewal of Registration under 12A for Religious and Charitable institution which forms do we need to fill up in income Tax portal 2.0?
FORM 10A OR FORM 10AB?


mahesh
31 August 2021 at 11:33

Nil rated goods input taken or not?

Sir we are manufacturer and we produce the shovel which is nil rated and other automobile parts which is taxable. But when we purchase the raw material in that time gst has included in invoice and that material is used in both product nil rated and gst rated.
So, my query is can I take input gst or not in nil rated product which raw material is used for making shovel.
Please clarify sir.


uttam
31 August 2021 at 11:22

HUF COMPLETE PARTITION

Dear All,
This is to inform that we have made complete partition of our HUF by mutual agreement among the family members and distributed the bank amount among the members. Further the bank account is also closed. There is no other property in the name of HUF.

Now our query is:
1-Whether the registration of partition deed is mandatory or mutual agreement among family members is sufficient. There is no dispute among any members.

2-There is some TDS refund due but since the bank account is closed , what can the solution for this. If we do not claim the refund is this OK.

Waiting for your early advice


ankita arora
31 August 2021 at 11:12

Growth opportunities in banking sector

Hello,
I am qualified CA, I qualified in Nov 20 attempt. As my articleship experience is not that good so I don’t know the area of interest yet, however i have landed at a bank job as a Associate credit manager. I am unaware further growth opportunities in this sector. Should i pursue any other course to widen my area. Is it possible to switch career few years down the line?
Please guide me.


CA Parul Saxena
31 August 2021 at 10:06

E way Bill query urgent

Goods were sent but Could not reach to buyer and E way bill expired...now what to do?


shagul hameed
31 August 2021 at 09:44

Objective of companies

I'm going to start one private company with stock market expert and he is also a proposed director of my company and my objective is collecting funds from my company shareholders and invest money in stock market,is it applicable in companies act 2013


Lavanya
30 August 2021 at 23:59

Taxation of retainers versus employees

Hello, I work in the legal profession but have no association nor have a very good understanding with finance and taxation laws as that isn't my area of focus.
I have recently started a new job and on discussing my role with the company and their HR, the status quo of my hiring in the company became a topic of contention as I cannot be labelled as an employee but they don't take retainers, which is what most lawyers are labelled as and the higher ups have taken some time to discuss this internally and have told me they'll set a meeting up in a few days where all of us can then finalize on the offer.

If I am hired as a retainer, I don't accrue any employee benefits provided under the labour laws of India and get taxed at the source, making it much more transparent and presumably lesser but if I choose to be an employee, I get all the benefits that come with it along with the taxes that are charged on the various aspects of my income whether they be bonuses or perks and allowances. The income slab that I fall under is 15% of my total income above the lower threshold and an additional Rs. 37500.

No matter how much I try to wiggle around I can't lower my slab with the available deductions so I'm genuinely confused as to what manner of hiring should I go forward with that will net me the most amount with the lowest taxation so I can focus on my savings.

I also don't have any additional sources of income at the moment so the income from my job will be the only amount for consideration. Any help, guidance and suggestions will truly be appreciated and go a long way. Thanks in advance.






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