Abhishek Soni

Are stuck in your manufacturing industry, if your answer to this is Yes and this podcast is for you:..!!! With have brand new podcast in Subsidy and loan. You will get answer to every question like how to get finance, how to get subsidy, what is the limit and conditions of subsidy etc Do watch like share and subscribe..!!!

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Conversion of physical shares into Dematerialisation format. Currently shares of entities listed on the stock exchange are traded in Demat form. Now onwards this compliance is further extended to Private Limited Companies, as notified. On the one hand it has benefits that companies can reduce the frauds on illegal transfer of shares and can have better control over the transfer of shares when hands are changed. On the other side there is a compliance burden on the companies as well as shareholders. Many foreign companies shareholders are enquiring a lot on account of this additional compliance, especially during the first year, and a common question in the industry is, Is it really an ease of doing business in India ? MCA should consider to further extend it's applicability on all types of private limited companies, even if they are other than small companies, as defined. #compliance #mca #india #easeofdoingbusiness

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Breaking :: FM makes Revisions in LTCG Indexation Budget Proposal on Real Estate!! For properties on or before 23rd July, option to be given to taxpayers to choose new(12.5%) or old method (20% with indexation) Wow!! BUT WAIT WAIT WAIT.....THIS IS ALSO A JUMLA - just like increasing the prices of petrol substantially to 100 and then making a cut of Rs2-3 to bring it down Even after proposed amendment- 1. What about other capital assets such as Gold? 2. What about the property which people will buy after 23rd July 2024 and retain that for 15-20 years??? And especially the present youth who must be planning to do for the same. 3. What about people (other than Resident individual and HUF) who acquired property before 23rd July 2024? These will be taxed at new rates without the benefit of indexation. Does the proposed amendment is implying that inflation has become zero in Indian economy from 23rd July 2024. If they wished to have passed on the benefit then the new tax rate of 12.5%(which is actually 14.95 including sucharges and cess due to increased tax base) then they could have given it as option without any condition w.r.t. type of capital asset as well as the effective date. Really they need to ponder and avoid tax terrorism. Views By CA. Shubham Bansal

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Upcoming Changes in Capital Gains Taxes in Budget 2024 Big changes in capital gains taxes are expected in the upcoming Budget 2024. Here are some key expectations: Assessment Period for Long-Term Capital Gains: Currently, the period of holding for immovable assets like land is 24 months.For shares and equity shares, the period is 12 months. It's expected that the period for immovable assets will be reduced to 12 months, aligning with shares and equity shares. Benefits for Senior Citizens: Reduction in Tax Rate: Anticipated reduction in tax rate for senior citizens selling ancestral property. Exemptions for Medical Purposes: Potential exemptions if the sale proceeds from the property are used for medical expenses. All these were recommendations to Government however only speculations until budget arrives.

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Seven months after India eased valuation norms for foreign investments in startups to mitigate the impact of the "angel tax," the sector faces increased turbulence. Numerous startups are contesting hefty tax demands legally, challenging the tax department's differing valuation methods, despite adhering to permissible guidelines like net asset value (NAV) or discounted cash flow (DCF). Over 100 startups are embroiled in disputes involving substantial sums, complicating their growth. Industry experts call for further regulatory simplification to encourage investment and support the startup ecosystem amidst this growing uncertainty and litigation. #angeltax #startups #interlinkcapital

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Watch our Growth Partner discuss the IPO insights for the Indian Markets and how India is a Shining Star 🌟 https://lnkd.in/gFdEu4Pi Sufyaan Shariff Shaaz Ahmed Shariff Ejaz

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📢 We are excited to announce the launch of our brand new monthly newsletter series, RNR Insights! 📰 This newsletter will be your go-to source for the latest updates and expert analysis on crucial topics including GST, Income Tax, Ind AS, and Valuations. RNR Insights shall aim to keep you informed about the evolving landscape of finance and taxation. Each edition will feature in-depth articles, practical tips, and key insights that can help you navigate complex regulatory environments and make informed decisions. Don't miss out on this opportunity to stay ahead of the curve! Let’s embark on this journey towards greater financial clarity together! What topics would you like us to cover in future editions? Share your thoughts below! 💬 #RNRInsights #NewsletterLaunch #Finance #Taxation

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#financial management #cost of capital full chapter... Cost of capital - Financial Management: https://lnkd.in/dtbk7NpF

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TDS on partner’s remuneration introduced in the Budget: Introduction: 1. Budget 2024 proposes a deduction of TDS @ 10% on payment by a partnership firm or a LLP to their partners, which may be in form of Salary or remuneration or commission or bonus or interest, when the aggregate amount exceeds Rs. 20,000 in a financial year. 2. Relevant Section for the same is Sec 194T. Provisions: 1. Payments covered for TDS purpose in form of Salary Remuneration Commission Bonus Interest TDS is applicable only when the aggregate amount in a financial year exceeds Rs. 20,000. 2. Applicable rate of TDS is 10% TDS shall be deducted at the time of payment of credit, whichever is earlier. 3. The provision of this section 194T shall be applicable from 1st April, 2025. 4. Salary to partner does not mean salary covered under section 192 of the Income Tax Act. Hence TDS under 192 shall not be deducted in this case. Challenges: 1. For the fixed remuneration the calculation is easy, however where the remuneration is decided in the end (at the time of closure of books) based upon the profitability, it will be a bit complex task. 2. It also draws the additional compliance needs and possible liquidity challenges for firms and their partners. 3. It requires firms to prepare by setting effective systems and processes, getting TAN, and ensuring timely TDS deductions and deposits. TaxByte by CA Aniket Kulkarni

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🌟 NRI Guide to Banking & Investment in India 🌟 Discover the essentials of banking and investment in India as an NRI. Gain insights on: Account types & benefits Tax implications Investment opportunities Regulatory framework Join our "Foundation for Financial Freedom" course with finance coach Ramamurthy, who has guided over 50 people to financial independence. #nri #nriindians #nriindian #learnfinance #learnfinances #learnfinancetherightway #learnfinancewithus #learnfinancepage #learnfinance1 #learnfinancewithfinelite #learnfinanceterms #learnfinanceskills

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🚀 Demystifying #GST: 5 Common Mistakes to Avoid and How to Fix Them As a CA, I've seen businesses struggle with GST compliance. Here are the top 5 mistakes and how to address them: Incorrect classification of goods/services: Issue: Wrong HSN/SAC codes lead to incorrect tax rates. Solution: Regularly update your product master with correct codes. Consult the official GST rate finder tool. Missing input tax credit claims: Issue: Overlooking eligible ITC leads to higher tax liability. Solution: Implement a robust reconciliation process. Use automated tools to match purchase registers with GSTR-2A/2B. Late filing of returns: Issue: Penalties and interest charges, plus potential input tax credit loss. Solution: Set up a compliance calendar with reminders. Consider using GST filing software for timely submissions. Errors in invoice details: Issue: Mismatches in B2B invoices can lead to ITC denials for your customers. Solution: Double-check all invoice details, especially GSTIN, taxable value, and tax amounts. Implement an invoice verification system. Ignoring reconciliation: Issue: Discrepancies between books and GST returns can trigger departmental audits. Solution: Perform monthly reconciliations between books, GST returns, and e-way bills. Address discrepancies promptly. Which of these challenges do you face in your business? Let's discuss strategies to overcome them and ensure smooth GST compliance. #GSTCompliance #TaxTips #CAExpert #IndianTaxation

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Puzzled on capital gain tax with indexation (20%) or without indexation (12.5%) 🤔 We have done an analysis of old and new long term capital gain taxes as amended on July 23, 2024 in Budget 2024 followed by subsequent changes on Aug 6, 2024. Basically it all depends on the value of the purchases (as % of sale consideration) and the year in which the asset was purchased. Old tax rate will have advantage when the purchase value is higher even when the purchase year is later; new tax rate will have advantage when the purchase value is less even when the purchase year is older Below illustrative chart shows whether old tax rate of 20% with indexation is better or new tax rate of 12.5% without indexation is better under different scenarios Pls note this is only informative and shall not be construed as an advise. Kindly take expert opinion before making any decisions

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Understanding GST returns is crucial for every business! Here’s a quick breakdown of each GSTR form to help sellers manage their tax submissions effectively. Master taxes with the essentials of knowing GSTR-1, GSTR-3B, GSTR-9 and GSTR-9C to ensure your business stays ahead of the financial curve. Visit www.gst.gov.in for more details on GST returns. Disclaimer: THIS IS NOT LEGAL/TAX ADVICE. Amazon Seller Services Private Limited and its affiliates (“Amazon”) hereby disclaims any and all liability and assumes no responsibility whatsoever for consequences resulting from use of such information. Please contact your legal advisor or compliance specialist to validate the accuracy and understand your obligations and compliance under the applicable GST laws. #TaxTuesdays #SellOnAmazon #gstreturns #tax #onlinebusiness

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ITR filing season is coming soon. Some agents are going to promise you additional tax refund. But you should not fall for it. Because to get you additional refund, they will claim deductions for expenses that you are not even incurring eg. -Medical expenses for some specified diseases or disabilities, -false claim for donations, -inflated claims under health insurance section etc. etc. Govt. doesn't not ask for uploading proofs at the time of filing ITR. But you are NOT safe. Tax department can very well send you a notice later on asking you to submit the proofs or else, pay tax with penatly. So, do not make false claims and put yourself at risk. #financialplanning #india #taxes

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