O
Om
I joined IT company in june 2022 then for which year i can start filling ITR or can i fill zero ITR for 2022?
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Yes
You can file nil return for F.Y 2021-22 till 31st December,2022 with zero late fees.
Otherwise you are liable to file ITR for FY 2022-23.
For more assistance, feel free to call
86997-99959
Dear Om,
You joined company in June-2022 so you so you are required to file ITR for the FY 2022-23.
For FY 2021-22 you are not liable to file ITR, however if you wish you can file.
For further consultation you can approach us at ca.rahuldwivedi@gmail.com or 900448537
S
Sidhant Gupta
Hi!
I want to purchase equity in early-stage private companies globally for investment purposes. I am based in India.
Crowdfunding platforms like Wefunder[1] and Republic[2] (based in the US) allow doing this. The company I am trying to invest in specifically is Fathom[3] (some financial/legal information about the company can be found here[4] and their filing with the US SEC can be found here[5]).
However, my bank cannot process the payment, citing that "Remittance to this beneficiary is prohibited under RBI regulations". I have verified that this is a safe platform and want to make my investment anyways.
My questions are:
1. Is it legal in India to make such investments?
2. What kind of proof should I collect in order to keep a record of my investment?
3. What is the tax implication of this investment? (For the FY of investing and for the FY of claiming returns)
4. I am now planning to make this investment via a friend in the US who can transfer the money to the platform and I can then transfer it to them (as a personal transaction). Is this method of paying for the investment legal?
[1]: https://wefunder.com/explore
[2]: https://republic.com/
[3]: https://fathom.video/
[4]: https://wefunder.com/fathomvideo/details
[5]: https://www.sec.gov/Archives/edgar/data/1947790/000167025422000980/0001670254-22-000980-index.htm
Thanks for reading.
Regards,
Sidhant Gupta
R
Robin Koul
SIR GOOD AFTERNOON, I HAVE PURCHASED A RESIDENTIAL PLOT FROM JAMMU DEVELOPMENT AUTHORITY ON LEAE TERM BASE FOR 30 YEARS AGAINST PREMIUM AMOUNT OF RS. 35 LACS , APART FROM THAT AS PER OUR LEASE AGRREMENT I HAVE TO PAY ANNUAL GROUND RENT F@8900 PER ANUM , FOR WHICH THEY ARE CHARGING GST @18 %. MY QUERY IS CAN THEY CHARGE GST ON MY GROUND RENT.
THANKING YOU IN ANTICIPATION
ROBIN
7006575640
Dear Robin,
Long term lease is not sale and hence GST is applicable on it.
For Further Consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377.
K
Kdnit
What is the format for interest certificate under section 24(B) of income tax act, as I had borrowed money from my brother for construction of my house in 2022. Is tax deduction possible in this scenario?
Dear Kdnit,
Interest paid for home loan is allowable as deduction, interest paid to your brother for home construction can be claimed as deduction U/s 24(b), you can use bank's format for that. However payment should not be in cash and other person should disclose the interest as income in his return of income.
For Further consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377
V
Vicky
I want to start a business of sending money acrosses the counrty.
you need to take registration as Authorised dealer under FEMA and then you can proceed to be doing it
do share a mail at cayashchopra@gmail.com for more details
