A Partnership firm with Engineers opting for Presumptive Taxation u/s 44ADA. Can Partners of the firm in their individual capacity also opt for Presumptive Taxation u/s 44ADA as Partners remuneration from firm is taxable as Business/Profession receipts in the hands of Partners.
Thanks in Advance
Arun Kumar Yemula
An individual wants to invest Rs. 1,50,000 under sec. 80(C), in any Mutual Fund Company's ELSS scheme,
to reduce his tax liability.
But, Is it compulsory to invest the whole amount of Rs.1,50,000 in any one ELSS scheme only ?
Cannot he divide the total investment amount between 2 or 3 Mutual Fund Companies ?
He does not want to keep all the investment in one ELSS scheme.
So, if he distributes his total investment of Rs. 1,50,000
Into 3 different ELSS schemes of 3 different Mutual Fund companies, (each Rs. 50,000)
into 2 ELSS schemes of 2 different Mutual Fund companies (each Rs.75,000),
will he be eligible for getting the full deduction of Total Amount (Rs.1,50,000), under sec.80 (C) ?
DEAR SIR OUR FIRM RECEIVES SPONSORSHIP FEE WE ARE REGISTERED UNDER GST AND PARTY GIVING US SPONSORSHIP FEE ALSO REGISTERED UNDER GST. NOW THE PARTY SAYS THAT THEY WILL PAY GST UNDER RCM, IN SUCH A SITUATION WHAT DETAILS SHOULD I GIVE IN GSTR1 GSTR3B OR GSTR 2 ?
My father had a HUF file. He had given loan to someone and interest from loan was the only income. Due to his demise we are facing problem regarding name change and all. On what name should the loan be received back? Should we change the karta name or dissolve it? What are the tax implications in case I receive the loan in my personal account?
I am having a public charitable trust for which we have never applied for 80G & 12AA. There;s no registration with any gov't body at all.
do we have to file ITR 7 or ITR-5 in this case?
also please suggest does it need to undergo any kind of Audit?