Nikhil Kaushik's Expert Profile

Queries Replied : 24175

I handle tax compliance, litigation and advisory services. I am reachable at canikhilkaushik @ gmail.com

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AMAR GANDHI says : Further query on your response as Business income
Thanks for the response Nikhil on my query regarding treating Equity trading as Business income. But if I show share trading as Business income, can't I claim expenses (mobile bill/internet/electricity, STT, etc. )? For eg. As an individual tax payer, even if my net income is Rs. 10 Lacs, I have to pay STCG on Rs. 7 lacs i e. Rs. 1.4 lacs STCG @ 20% while if I show it as business income, I can show some expenses and reduce my net taxable income. Please suggest. Thanks

karthikr says : contract employee tds rate
Hi Nikhil, Good day! Could you please confirm the TDS rate deducted for contract employees under Section 192C? Should it be 1% or 2%? The employees are part of the Finance Team, while others are in Technical roles.

karthikr says : contract employee tds rate
Hi Nikhil, Good day! Could you please confirm the TDS rate deducted for contract employees under Section 192C? Should it be 1% or 2%? The employees are part of the Finance Team, while others are in Technical roles.

Mahesh S M says : GST
Hi Sir, I have reversed the ITC under 17(5) in this month 3B. How can I reclaim that in future when I receive Invoices from supplier?

ntc pioneer says : It
Dear Sir How much is the tax relief in the case of the following scenario ? Fy 23-24 Gross income-10 lakhs Deductions-pf 1 lakh and housing loan 1.5 lakhs and standard deduction 50000 Gross total of arrears of fy 22-23 received in fy 23-24-4 lakhs Deduction of pf from arrears-1 lakh Fy 22-23 Gross income-7 lakhs Deductions-50000 pf and 50000 standard deduction Old regime is opted in both the years