Aditya Maheshwari's Expert Profile

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I am a Chartered Accountant in practice in Mumbai in the field of Direct Taxation, Audit, Company Law Matters and LLPs.

My motto in life is "Prepare for the worst and expect the best"

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CA Aditya Maheshwari

B. Com., A. C. A., DISA (ICAI)

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RASHMIKANT says : SERVICE TAX ON LABOUR INCOME RECIEVED
I HAVE PRIVATE LIMITED COMPANY WHO IS RECEIVING LABOUR INCOME FROM A JEWELLERY SHOWROOM WHO IS ALSO A PRIVATE LIMITED COMPANY AFTER TDS BEING DEDUCTED FROM THE ABOVE. WHETHER I AS A PRIVATE LIMITED COMPANY LIABLE TO PAY SERVICE TAX ON THE LABOUR INCOME RECEIVED AFTER IMPLEMENTATION OF NAGATIVE LIST IN SERVICE TAX ........ PLEASE REPLY AS EARLY AS POSSIBLE.....

kaushal siroya says : RTO Taxes of new car
Please tell me that RTO taxes paid on purchase of new car are to be capitalized or not

Parag Ghonge says : Income Tax query
Case: I have an existing residential property in name of myself and wife (share not defined). I am purchasing new residential property and required to decide ownership patter for the same. Should I register new property in my name only? Or again jointly with wife? Housing deduction and benefits is required for me and not for wife. I am evaluating two options and request to suggest the better one considering income tax , wealth tax and capital gain taxes and stamp duties applicable. Option One: Registering new property in my name only: I will claim this new property as deemed to be let out and will set off full interest against my salary till interest component is high. Now after years when interest will be negligible, I will transfer 50% share in current house to my wife. Now I will be absolute owner of new property and my wife will be absolute owner of existing owner and both property will be exempted from income tax, wealth tax. I will be required to pay 50% stamp duty for this transfer and also transferring 50% share without consideration will still make me deemed owner of existing property. But I will try to show some consideration or will transfer at market value to avoid capital gain. Please evaluate this option? Option Two: Registering new property jointly with wife: I will claim this new property as deemed to be let out and will set off full100% interest against my salary till interest component is high. Will I be able to take benefit of full interest though I am 50% owner? I will be paying full EMI and interest and will I be able to claim 100% interest?. Now after years when interest will be negligible, I will transfer 50% share in current house to my wife and in consideration she will transfer 50% share in new house to me . Now I will be absolute owner of new property and my wife will be absolute owner of existing owner and both properties will be exempted from income tax, wealth tax. Will transferring shares to each other for consideration at same time exempt capital gain? I need to pay stamp duty on the property(50%value) whose Market Value is more? Please share opinion as to which option is good to follow. Also requesting to answer the questions asked in between those options.

Premlata Jain says : labour law maharashtra
Dear Sir Please suggest regarding the following query with reference: A construction company is giving work order to the contractor. if that contractor is having more than 20 employees & engages only 10 employees at site. Is it mandatory for a construction company (principle employer) to obtain labour license from the contractor who engaged only 10 employees at the site. Thanks in advance...Pl reply urgently

Deepak says : NGO queries
Sir, I have some queries relating to NGO? 1) In case of NGO, if the donations from foreign contributions is received, how much maximum the NGO firm can utilize for their admin expenses like salaries, travel expenses, maintenance, etc.? Is there a limit , ( example,say upto 10 % or 20% only ) for overheads of NGO firm out of donations received from foreign contribution or local fund received as donation or contribution etc. 2) Suppose we receive funds locally from the promoters of NGO co, do we still require clearance from income tax for claiming exemption of local funds received as donations in NGO co Thank you