Will there be any tax implications on merger of one LLP with another LLP having same designated partners
Thanks in advance
A person dealing in F&O subscribes and pays 30% profit earned in F&O to the person giving the service. Can this amount be deducted as expense along with brokerage expense. What is the impact with respect to TDS. Can it be considered a oral partnership unregistered and hence what is the impact both on direct tax and indirect tax. Kindly guide
Hello experts
I am a CA final old course student and want to convert in new course.
I have completed my following training under old course
1.ITT.
2. Orientation program
3.GMCS 1
4.GMCS 2
I want to know that whether I have to undergone with Advanced ITT and MCS training before appearing in Final exam?????
Please guide me urgently so I can take suitable decision.
Thanks in advance
Is TDS u/s 194Q deducted on High Sea Purchases including Customs or Not
As per clarification GST should not be included, if deducting TDS on purchases
A celebrated movie director (assessee) is likely to get a substantial amount as revenue in the current financial year. As a part of tax planning, he wants to create to an LLP. So long his income was taxed and filed as an individual. Can he create an LLP and transfer his income so that he can avoid high surcharge rates? Since his individual creative talent is being used, will forming an LLP be tenable?
Also, he wants to transfer this amount, (after paying relevant tax on this) to his wife, who will later invest this in her business (sole proprietary). Will section 64 get attracted in this case regarding clubbing of income?
I am writing to inquire on what could be the object clause of a company which is focussing on creating designs and selling different products (notebooks, t shirts etc) printed with those designs.
I am planning to upload my artwork on US based print on demand e-commerce platform.The customers will place the order with that platform and then that ecommerce platform will manufacture and deliver the product to the customer. I'm just uploading my artwork as a designer. I am not involved in any other process such as receiving orders, manufacturing and delivering the products to customers etc. The selling price for product will be set by designer (in this case, me) and the ecommerce platform will deduct the base cost and give the artist remaining 100% of the profit (i.e. selling price - base cost).
For example, 1.the base price for a t-shirt is $10 and designer choose to sell it for $24, then designer would keep $14 in profit.
2.the base price for a t-shirt is $10 and designer choose to sell it for $19, then designer would keep $09 in profit.
The designer will receive the payment through PayPal.
My questions are ,
1. Does this profit come under ROYALTY?
2. Which ITR needs to be filed?
Payouts are in dollars but payments deposited in bank a/c are in Indian rupees.
3. I'm not artist/ designer by profession, then under which category above income will fall? Business income or income from other sources.
Dear Sir,
My net profit Rs.569000/- in which I have deposit RS. 80000/- IN PPF account now Taxable income is Rs.489000/- Can I eligible for rebate 87A Rs.12500/- today I have visited to service provider to fill itr but my services provided told me you have to pay Rs.13000 income tax.
Please suggest its correct.
WHETHER TRANSFER OR MERGER OF ONE LLP TO ANOTHER LLP BE CONSIDERED AS TRANSFER FOR THE PURPOSE OF CAPITAL GAIN IF PARTNERS ARE SAME IN BOTH THE LLP'S
THANKS IN ADVANCE
Sir,
A person running a medical app for consultation difference doctors through on online mode.if person some amount received from patients after some amount paid to another doctors.
Question:
1.Assess above fees collections transactions services through on medical app received and pay amounts gst and it applicable.
2.assess above transactions treatment in books.
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LLP Merger/Acquisition