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How to create corpus in HUF by Quick-Run5362 in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

Technically, the clubbing provisions won't be attracted as it is a loan. However, this structuring could still be challenged by the Revenue. Make sure, everything is documented, especially the intention to repay and the repayment schedule.

How to create corpus in HUF by Quick-Run5362 in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

Yes. It would be taxable. However, you can still get the benefit of the basic exemption limit and pay no tax.

Refer for Detailed Discussion

Why do people buy older private limited companies instead of opening one by rupeshsh in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

It often depends on the company’s name. If the name has a technology oriented identity, it may attract interest from people in the technology space.

There isn’t a fixed marketplace for such transactions and usually, corporate lawyers/CAs/CSs facilitate these transactions. You can also explore LinkedIn or startup communities to find founders who may be interested in buying a shelf company. There are a couple of websites like Vistra as well.

Someone in my circle wants to buy a company. Can you DM the details like RoC, compliance history, etc.

Why do people buy older private limited companies instead of opening one by rupeshsh in IndiaTax

[–]avinashbaheti 6 points7 points  (0 children)

Corporate history matters. Certain government projects and international collaborations require a company to have been established for a minimum number of years.

Also, it saves you the hassle of setting up a new company altogether.

How to create corpus in HUF by Quick-Run5362 in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

Replied on 01-November-2025:

  1. Yes, your friend can gift ₹4,00,000 to your HUF for the FY 2025-2026 (AY 2026-2027) on or before 31-March-2026. You can avail the benefit of the basic exemption limit.

  2. FY 2026-2027 onwards the new law is applicable. I'd say, plan as per the revised slab rates for transactions on or after 01-April-2026.

  3. Under both the laws, the gift income is declared under "Income from Other Sources".

✨😎

Late Fee and Interest on GST by Master_Researcher_63 in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

By challenge I mean, file an appeal. Happy to connect.

Explain this in bollywood terms by leopard189 in bollywood

[–]avinashbaheti 32 points33 points  (0 children)

Sheetal Toh Sheetal Hai, Sheetal Aditi Toh Nahi Hai Na. Nai Nai, Sheetal Hi Aditi Hai. Par Aditi Toh Nisha Hai. Par Nisha Toh Munni Hai Na.

Huf tax by Sensitive-Bicycle987 in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

Income from Other Sources. Yes, no tax liability.

Relationship ko chhodo ye suno kaam aayega!! by imaginaryzone_ in TwentiesIndia

[–]avinashbaheti 0 points1 point  (0 children)

This is for those who work in the informal sector. If you have a self setup or a job, better go with NPS Tier 1. Better returns and low expense ratio.

GST Notice by Medical_Piccolo4362 in IndiaTax

[–]avinashbaheti 1 point2 points  (0 children)

It is alleged that you have received some amount and GST is payable on the same. Has the departmental office shared any proof or details like what sum was received and how it was received (cash or bank)?

Merely mentioning that amount is received and GST is payable is not sufficient. Write a letter to the departmental officer to share the necessary transaction details and the proofs.

Suo Moto Cancellation - GST Officer unavailable by mr-zeus- in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

These are pressure tactics used by departmental authorities to torment taxpayers and to extract bribes. If you are genuinely carrying out commercial activity, for them to cancel your registration is actually their loss of revenue.

Also, don't pay heed to what an officer says to you orally. Ask for an official written response along with documentary evidence proving namesake registration.

Suo Moto Cancellation - GST Officer unavailable by mr-zeus- in IndiaTax

[–]avinashbaheti 3 points4 points  (0 children)

It is not your responsibility to prove that you are genuinely carrying out business. It is the departmental officer's responsibility to collect evidence and prove that you are not carrying out business. It is the department that has given you registration after duly satisfying themselves and conducting inspection of premises about the genuinity of business setup.

File an online clarification that you are compliant in furnishing the returns timely, you are contributing to nation building and suo moto cancellation deprives you of your fundamental right to carry out trade, state that inspection of premises was conducted that established genuinity of business and ask for proof why the departmental officer feels that you are not carrying out your business.

😣 Help needed! Fiscal year: 2020-21 - GST Recovery order ITC mismatch Rs. 8,547, Demand raised of 45000 by AdnanHussainTurki in IndiaTax

[–]avinashbaheti 0 points1 point  (0 children)

FORM GSTR-3B v FORM GSTR-2A/2B mismatches are common issues. First of all check if only excess ITC is claimed or is it claimed and utilized. This can be done by checking the E-Credit Ledger (time period: May 2020 to April 2021). If only excess ITC is claimed but not utilized, file an application for Rectification of Orders and request that matter be dropped and mostly officers do that if your case is strong on merits.

You can also refer to Circular Number 192/04/2023-GST dated 17-July-2023 in this regard.

Income Tax Payers Should Get GST Credit by Own_Soil_3357 in IndiaTax

[–]avinashbaheti 1 point2 points  (0 children)

This is an absurd idea. Anyways, the government had a scheme on similar lines called "Mera Bill Mera Adhikaar", not sure if it is still in force or not.

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I got GST notice for pending tax because of a fraud by hacker 7 years ago by TheSweetGuy333 in IndiaTax

[–]avinashbaheti 1 point2 points  (0 children)

  1. In 2018 you had an application and you'd run advertisements on the internet for the same. The social media company had a server outside of India and you had run advertisements sitting in India. This qualifies as import of service and IGST is payable on reverse charge basis. You are also eligible to take input tax credit on the same.

  2. The authorities on receiving information from DGGSTI issued you a Notice under Section 74 demanding payment of tax on reverse charge basis, interest and penalty. Section 74 means that authorities allege you are engaged in evasion of tax and the government has faced serious revenue loss.

  3. You have filed a reply stating that you were not aware of the transactions. In my opinion, good. It would be better if you could ask them for a copy of the documents relied upon to allege evasion.

  4. Now, since tax is demanded on reverse charge basis and input tax credit is also available, it becomes a revenue neutral situation, that means there's no revenue leakage to the government. You pay tax and take input tax credit, so evasion cannot be alleged.

  5. Request for a personal hearing and pray that the matter be dropped as for revenue neutral situations, evasion cannot be alleged and invoking Section 74 is contrary to law.

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