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Ratan Aryan
Hello, according to new income tax regime how much do i need to pay in taxes if my salary is 7 lakh my age is 40.
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S
Sakshi
What is section 11UA?
Connect with us at 9825330911, will be happy to help
CA Naman Maloo 13 Feb 2023I think you are talking about rule 11UA which is generally used for valuation of securities.
You can book a consultation with expert to discuss more: https://www.taxontips.com/tax-notice-personal-consultation/
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Raghvendra
I am a first time tax payer, i am a proprietary firm forex trader i trade foriegn currency so i wanted to know how to and when to pay tax and what type of tax is applicable for me
Connect with us at 9825330911, will be happy to help
CA Pushkar Agrawal 8 Feb 2023Hellp Raghvendra,
As you are a Forex trader, your income will be taxable under PGBP income and normal slab rate will be applicable. For the tax planing, tax filling and compliance reach us @capushkaragrawal@gmail.com or call us on 8475918165.
Happy to serve you,
Thank You
S
Shalini R N
One of our registered customer who is in Andhra Pradesh, takes our transport service for transportation of his products from Bangalore to Tumkur and Sira. We are also registered Goods Transport Agency and are based in Bangalore. Start location and End location both are in Karnataka. But our customer is in Andhar Pradesh. Please clarify whether we need to bill IGST Billing or CGST & SGST Billing.
1. Integrated Goods and Services Tax or IGST
The Integrated Goods and Services Tax or IGST is a tax under the GST regime that is applied on the interstate (between 2 states) supply of goods and/or services as well as on imports and exports.
The IGST is governed by the IGST Act. Under IGST, the body responsible for collecting the taxes is the Central Government. After the collection of taxes, it is further divided among the respective states by the Central Government.
For instance, if a trader from West Bengal has sold goods to a customer in Karnataka worth Rs.5,000, then IGST will be applicable as the transaction is an interstate transaction. If the rate of GST charged on the goods is 18%, the trader will charge Rs.5,900 for the goods. The IGST collected is Rs.900, which will be going to the Central Government.
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Vaishali Anand
I am a stock market trader and investor in Indian stock markets. I do it via a regular demat and trading account. My question is will I have any tax saving if I register a company for my trading ?
Hi, it would depend upon the the amount of income earned. If the income earned is expected upto 10 Lacs per annum, then incorporating a Company is not suggested. However, if it is above 10 Lacs, then cost benefit analysis has to be done as Registering a Company would increase certain compliance costs however all income would be charged at flat 25%. The tax rates for individual PAN are as per the slab rates (2.5 L - 5L: 5%; more than 5L - 10L : 20%; above 10 Lacs it is 30%).
Fore more information, you may connect with us at deepakkucheria@gmail.com or +91-9911744028
Thank you
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