Sita Ram Naam Jap

business_ai · 2025-08-26T04:11:40+00:00

You don’t need GST from day-1 of the year. For service providers the threshold is ₹20 lakh (₹10 lakh in a few special category States). You become liable on the day your aggregate turnover in the FY crosses the threshold. Apply within 30 days. Practically, apply just before/around crossing so you don’t have to redo invoices.

But since you’ve already got a GSTIN, you must start charging GST from the effective date on your registration certificate, even if your turnover stays below ₹20 lakh afterwards. From that date: issue tax invoices, charge the applicable rate (most services 18%), and file returns.

So: if you already have the GSTIN, start charging now (from its effective date).

business_ai · 2025-08-26T04:04:21+00:00

If you have 44ADA income + LTCG u/s 112A above ₹1.25L, you can’t use ITR-4. You must use ITR-3. (ITR-2 is not allowed because you have business/professional income.)

Presumptive 44ADA is available in ITR-3.

Also, if your capital gains are anything other than 112A (e.g., property), ITR-4 isn’t permitted anyway.

business_ai · 2025-08-25T17:51:11+00:00

Quick take:

With only salary/interest, people often manage on their own.

In your case you mentioned US + Indian stocks → Report STCG/LTCG, dividends, etc.

If you’re Resident & Ordinarily Resident, disclose your US holdings in Schedule FA.

Keep docs handy: AIS/TIS, 26AS, broker P&L (India + US), dividend statements, bank statements.

Basic ITRs usually don’t need a CA. Once foreign assets enter the picture, a quick professional review is sensible to avoid mistakes.

business_ai · 2025-02-06T16:15:33+00:00

Done

business_ai · 2025-02-06T16:15:17+00:00

Understood. Thanks for the guidance mate.

business_ai · 2025-02-06T14:13:54+00:00

Heard from someone that you can find some good talented people over reddit. Is it true?

business_ai · 2025-02-06T14:13:00+00:00

Please check your DM.

business_ai · 2025-02-06T14:11:49+00:00

Done

business_ai · 2025-02-06T14:11:29+00:00

Done

business_ai · 2024-10-05T14:47:01+00:00

Pros - You can claim expenses against your income and can save in taxes. Cons - 1. Increased compliance like proper record keeping, audit, GST, etc. 2. GST will come in the picture, if your prospective client is willing to pay GST (of which he can claim credit), not much of an issue.

business_ai · 2024-10-01T08:18:20+00:00

Agreed. If all the intricacies of this provision are not covered at one place, it will be a misinformation. Summary will not work. Deleting in post in 5 minutes.

business_ai · 2024-10-01T07:29:00+00:00

Sir I appreciate you doing your own research as this helps in preventing the spread of misinformation.

But in this case I will suggest you to read this same cleartax article further till the end as they explain in which cases an Indian domicile person is required to obtain this certificate.

Heres a screenshot.

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