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The data provided is limited. We are answering this on the limited amount of data provided. Deal facilitation fees can be considered as expenditure by investors when they calculate their ITR. Since this fee is not paid by promoters, promoters will calculate their gains based on the amount they receive in their bank account. GST is applicable...
Wazzeer Professional Network
ProfessionalAllowability of deal facilitation fee paid to promoters while computing LTCG in the hands of investors & taxability of deal facilitation fee paid by investors in the hands of promoters.
Indian resident investor sells (transfers) unquoted shares to a foreign company. (Shares were purchased 4 yrs back). Investor pays deal facilitation fee @ 20% of the sale consideration to the original promoters of the company (amount is paid to promoters of the company. Not to the company.) for finding out the exit option to them (investors). Whether this deal facilitation fees will be treated as expenditure incurred wholly & exclusively in relation to transfer of unquoted shares and will the same be allowed as deduction while computing long term capital gain? Whether TDS has to be deducted & GST is payable is on this fee? If so, what is the rate of TDS & GST? How deal facilitation fee will be taxed in the hands of promoters? Whether valuation certificate is required for this transfer? If yes, from whom the valuation certificate should be obtained. CA or Merchant Banker? Assume the FY as 2018-19.
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Wazzeer Professional Network
ProfessionalThe data provided is limited. We are answering this on the limited amount of data provided. Deal facilitation fees can be considered as expenditure by investors when they calculate their ITR. Since this fee is not paid by promoters, promoters will calculate their gains based on the amount they receive in their bank account. GST is applicable if the facilitator has registered under GST and he will be charging the same at 18% of the facilitation fees. 10% of the fees has to be deducted by the investor as TDS.
over 1 year ago
View answer
Allowability of deal facilitation fee paid to promoters while computing LTCG in the hands of investors & taxability of deal facilitation fee paid by investors in the hands of promoters.
Indian resident investor sells (transfers) unquoted shares to a foreign company. (Shares were purchased 4 yrs back). Investor pays deal facilitation fee @ 20% of the sale consideration to the original promoters of the company (amount is paid to promoters of the company. Not to the company.) for finding out the exit option to them (investors). Whether this deal facilitation fees will be treated as expenditure incurred wholly & exclusively in relation to transfer of unquoted shares and will the same be allowed as deduction while computing long term capital gain? Whether TDS has to be deducted & GST is payable is on this fee? If so, what is the rate of TDS & GST? How deal facilitation fee will be taxed in the hands of promoters? Whether valuation certificate is required for this transfer? If yes, from whom the valuation certificate should be obtained. CA or Merchant Banker? Assume the FY as 2018-19.
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Wazzeer Professional Network
ProfessionalThe data provided is limited. We are answering this on the limited amount of data provided. Deal facilitation fees can be considered as expenditure by investors when they calculate their ITR. Since this fee is not paid by promoters, promoters will calculate their gains based on the amount they receive in their bank account. GST is applicable if the facilitator has registered under GST and he will be charging the same at 18% of the facilitation fees. 10% of the fees has to be deducted by the investor as TDS.
over 1 year ago
Udyog Aadhaar is not required to obtain GST Registration. The documents required to obtain GST registration are as follows
- ID Proof of the Proprietor (Aadhaar/ Election ID/ Driving License/ Passport)
- PAN Copy of the proprietor
- Address proof of the proprietor (Bank Account statement/ Any utility bill in t...
Wazzeer Professional Network
ProfessionalWhat is the process for obtaining GST number applications using Udyog Aadhaar certificate
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Wazzeer Professional Network
ProfessionalUdyog Aadhaar is not required to obtain GST Registration. The documents required to obtain GST registration are as follows
- ID Proof of the Proprietor (Aadhaar/ Election ID/ Driving License/ Passport)
- PAN Copy of the proprietor
- Address proof of the proprietor (Bank Account statement/ Any utility bill in the name of the proprietor)
- Address proof of the place of business (Rent Agreement/ Property tax paid receipt along with NOC)
- DSC of the proprietor
If the above documents are available GST registration can be made without Udyog Aadhaar Certificate.
over 1 year ago
View answer
What is the process for obtaining GST number applications using Udyog Aadhaar certificate
-
Wazzeer Professional Network
ProfessionalUdyog Aadhaar is not required to obtain GST Registration. The documents required to obtain GST registration are as follows
- ID Proof of the Proprietor (Aadhaar/ Election ID/ Driving License/ Passport)
- PAN Copy of the proprietor
- Address proof of the proprietor (Bank Account statement/ Any utility bill in the name of the proprietor)
- Address proof of the place of business (Rent Agreement/ Property tax paid receipt along with NOC)
- DSC of the proprietor
If the above documents are available GST registration can be made without Udyog Aadhaar Certificate.
over 1 year ago
This cannot be answered comprehensively without complete information. The government has allowed this exemption in certain conditions only. The slabs are also different. In case you have sold a plot and purchased a flat, the exemption allowed is different from the case where you have sold a flat and purchased a flat/ plot. Also there are conditions li...
Wazzeer Professional Network
ProfessionalI am a sole proprietor. I had a LTCG last year which i have invested in house property and i showed it in balance sheet as an investment.where can i show it in ITR-3?
LTCG-Rs.3900000(apprx.)
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Wazzeer Professional Network
ProfessionalThis cannot be answered comprehensively without complete information. The government has allowed this exemption in certain conditions only. The slabs are also different. In case you have sold a plot and purchased a flat, the exemption allowed is different from the case where you have sold a flat and purchased a flat/ plot. Also there are conditions like not owning house previously etc.
over 1 year ago
View answer
I am a sole proprietor. I had a LTCG last year which i have invested in house property and i showed it in balance sheet as an investment.where can i show it in ITR-3?
LTCG-Rs.3900000(apprx.)
-
Wazzeer Professional Network
ProfessionalThis cannot be answered comprehensively without complete information. The government has allowed this exemption in certain conditions only. The slabs are also different. In case you have sold a plot and purchased a flat, the exemption allowed is different from the case where you have sold a flat and purchased a flat/ plot. Also there are conditions like not owning house previously etc.
over 1 year ago
As per Indian laws and regulations, a business or an individual cannot license the mere idea. To license, the idea has to be converted into a tangible form or as a software.
...
Wazzeer Professional Network
ProfessionalCan an Idea be Licensed
Can an innovative Startup idea be Licensed .If Yes , How? If No, What are the other Options and Procedue
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Wazzeer Professional Network
ProfessionalAs per Indian laws and regulations, a business or an individual cannot license the mere idea. To license, the idea has to be converted into a tangible form or as a software.
over 1 year ago
View answer
Can an Idea be Licensed
Can an innovative Startup idea be Licensed .If Yes , How? If No, What are the other Options and Procedue
-
Wazzeer Professional Network
ProfessionalAs per Indian laws and regulations, a business or an individual cannot license the mere idea. To license, the idea has to be converted into a tangible form or as a software.
over 1 year ago
Udyog Aadhaar is not required to obtain GST Registration. The documents required to obtain GST registration are as follows
- ID Proof of the Proprietor (Aadhaar/ Election ID/ Driving License/ Passport)
- PAN Copy of the proprietor
- Address proof of the proprietor (Bank Account statement/ Any utility bill in t...
Wazzeer Professional Network
ProfessionalWhat is the process for obtaining GST number applications using Udyog Aadhaar certificate
-
Wazzeer Professional Network
ProfessionalUdyog Aadhaar is not required to obtain GST Registration. The documents required to obtain GST registration are as follows
- ID Proof of the Proprietor (Aadhaar/ Election ID/ Driving License/ Passport)
- PAN Copy of the proprietor
- Address proof of the proprietor (Bank Account statement/ Any utility bill in the name of the proprietor)
- Address proof of the place of business (Rent Agreement/ Property tax paid receipt along with NOC)
- DSC of the proprietor
If the above documents are available GST registration can be made without Udyog Aadhaar Certificate.
over 1 year ago
View answer
What is the process for obtaining GST number applications using Udyog Aadhaar certificate
-
Wazzeer Professional Network
ProfessionalUdyog Aadhaar is not required to obtain GST Registration. The documents required to obtain GST registration are as follows
- ID Proof of the Proprietor (Aadhaar/ Election ID/ Driving License/ Passport)
- PAN Copy of the proprietor
- Address proof of the proprietor (Bank Account statement/ Any utility bill in the name of the proprietor)
- Address proof of the place of business (Rent Agreement/ Property tax paid receipt along with NOC)
- DSC of the proprietor
If the above documents are available GST registration can be made without Udyog Aadhaar Certificate.
over 1 year ago
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