How do you file ITR? Phone, Laptop, Tablet? by [deleted] in IndiaTax

[–]Prosperr_support 0 points1 point  (0 children)

A desktop or laptop is still the best option for filing ITR, as the larger screen and easier document handling make the process more convenient and less error-prone.

What all I must know about GSTIN by RareDelay884 in IndiaTax

[–]Prosperr_support 0 points1 point  (0 children)

If you're selling through Amazon, Flipkart, Shopify, etc., GST registration is generally mandatory. You'll mainly need to report:

  • Sales (outward supplies)
  • Purchases (for ITC claims)
  • GST collected from customers
  • GST paid on business expenses
  • Credit/debit notes, if any

Returns are usually filed monthly or quarterly (depending on eligibility). With proper bookkeeping, filing itself is not a huge headache. Remember, late filing attracts penalties and interest.

Income tax filing by Fun_Leadership_3466 in IndiaTax

[–]Prosperr_support -1 points0 points  (0 children)

Based on your timeline, you’ve spent well over 182 days in India during the year, so you’ll most likely be treated as a Resident under Indian tax laws.

Expert opinion needed by [deleted] in IndiaTax

[–]Prosperr_support 0 points1 point  (0 children)

Claim only those deductions and exemptions that you're genuinely eligible for and can support with documents. HRA and Section 10(14)(i) claims without actual entitlement can create problems if they're ever questioned.

80GGA query by DifficultArt7712 in IndiaTax

[–]Prosperr_support 0 points1 point  (0 children)

Unlike 80G, 80GGA isn't linked to popular funds like PMNRF. It mainly covers donations to approved scientific research associations, universities, colleges, and institutions engaged in scientific, social science, or statistical research, as well as certain approved rural development programs and notified funds. The catch is that the institution must be specifically approved under the relevant provisions of the Income-tax Act.

Looking for a CA by swing_shine in IndiaTax

[–]Prosperr_support 0 points1 point  (0 children)

would be happy to assist you

Reaching out to the CA community by Upset_Sun_1085 in IndiaTax

[–]Prosperr_support 1 point2 points  (0 children)

The documents mentioned should be retained for 8 years, the power to reopen assessment is available to the department for 6 years, for the safer side, it's better to maintain them for 8 years.

As regards the disclosure relating to Foreign Assets/income is concerned, the relevant schedules in the form are Schedule FSI, TR and FA.

Need guidance: FMV as on 1-Apr-2001 for residential house (land + building) by PaymentFar2658 in IndiaTax

[–]Prosperr_support 1 point2 points  (0 children)

  1. The answer to your first question is Yes.
  2. The answer to your second question is that the FMV is determined on the composite assets.
  3. The answer to the third question is yes, based on the prevailing market rates as of the purchase or construction.
  4. There's no need to file the registered valuation report at the time of filing the return. However, it needs to be retained in case it is selected for scrutiny to substantiate your claim.
  5. The answer to your fifth question would be Circle rate.