Hi, I'm an individual software developer working for overseas clients. My annual receipts this financial year(2018-19) may be around 60 lakhs, but definitely above 50 lakhs. Thus I can't use 44ADA, which I have been using since last 2 years. My expenses related to profession are not more than 3-4 lakhs a year.

My question is, can I incorporate a small company, and use 44AD. The business is software development and I work independently(not under any company). I can hire an employee and deduct TDS if need be to strengthen the case for 44AD.

Is this possible? Can software work come under business rather than a profession.

Thanks.

Hi everyone. I do job work. Please tell me is gst applicable in job work done by me? And what is its impact under income tax act. Please reply as early as possible. Thanks in advance.

Dear Expert,
Mistakenly we have uploaded the invoice in GRST-1 wherein the mistake was in grand total of invoice however the taxable value & tax is correct. Pls clarify how to rectify this miskate should I issue debit note.

Thanks
Ankur

If an assesse having business income (Less than Rs. 100 lacs in the preceding F.Y) opted for Section 44AD taxation scheme pays salary to his employee, whether TDS liable to be deducted u/s 192, when employee's total income exceeds "the maximum amount not chargeable to tax" ?
Thanks in anticipation.

Dear Experts

Please guide.

I want to start a proprietorship business ( a trading/distributorship type) in Delhi.
I will buy loose goods, will be packing( at home) and distributing the same in my own brand.

I believe registration of proprietorship is not required in any law.
GST ( as the transactions will be intra-state and be of less than 20 Lac turnover initially), registration is also not required.
If I am correct in above two points what documents should I show to bank to open a current account for proprietorship business ?

If I am not correct, please guide. Also please help to understand the other compliance in this regard.

Regards
Puran Dangwal

Sir
I am having COP since 13/08/2012. I have been Partner in a Firm of Chartered Accountants since 01/06/2014.
Am I eligible to apply for FCA.
If yes in Declaration of Form 3 under which sub clause _________________ _____________________________________of clause3 of the Regulation5** of the Chartered Accountants Regulation, 1988. am I eligible to be admitted as a Fellow Member.

Thanks

Is there any deductions available to assessee who is donating to Temple via cheque

Sir,
I got the Message my Provisional Id of GST has been canceled .Apply for the new GST number, as a contractor i got bill in the month of nov 17 to mar 18.If i have to apply for new GST than how can i submit the GST for last year .

Please guide.

Hi Experts, I run a small tea stall in Rajahmundry. We are paying 5% GST every month. I want to know whether our stall comes under GST or Composition Taxes. If it all we come under Composition how to go for it. FYI our sales are under 5000 per day

Read more at: https://www.caclubindia.com/experts/gst-to-composition--2691474.asp

Recently I have sold a industrial vacant plot & after deducting the indexation cost,
The long term capital gain is rs.9100000.00 , now I have invested rs. 5700000.00 in
a residential flat. I would like to know, how much of rs 57 lakhs will I get as deductions from rs. 91lakhs,While calculating the net taxable amount on capital gains for current financial year.
Madan Saraf