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Mahesh

Mahesh Padmanabhan  | Answer  |Ask -

Tax Expert - Answered on Feb 17, 2023

Mahesh Padmanabhan has specialised in payroll, personal and corporate taxation for more than two and a half decades, enabling him to provide practical, realistic and correct advice to his clients.
He is a member of The Institute of Chartered Accountants of India and has a degree in cost accounting from the Institute of Cost Accountants of India.
He is also a qualified information systems auditor. ... more
Prash Question by Prash on Feb 15, 2023Hindi
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Hello sir regarding consultant presumptive 50% taxation, i am filling tax as professional, if my income crosses 20 lakhs, should i get gst ?

Ans: Hi Prash
As GST and direct tax option of presumptive tax are two separate taxes, the threshold limit of the requirement of registration under GST would be applicable once you cross the Rs. 20 Lakh mark.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Tejas

Tejas Chokshi  | Answer  |Ask -

Tax Expert - Answered on Apr 18, 2023

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I'm a Legal professional engaged as a Consultant with a Company and getting INR 1,50,000/- per month (Annual - INR 18.00 Lakh) as Consultancy Fee. In addition to Consultancy Fee., I've been provided with free accommodation in the township. the value of accommodation as per IT Act/Rules is assessed at INR 9,500/- per month (Annual - 1,14,000/). TDS is also deducted !10% on the Consultancy Fee as also on free accommodation under Section 194R (perquisites). My Total Income from Professional is !8 Lakh + 1.14 Lakh (value of perquisites) = 19.14 Lakh. Am I required to get registration under GST and raise GST Invoice on the Company? Kindly clarify. Shall be grateful for the help. Regards, Rakesh Tiwari
Ans: Dear Rakesh, Basis your question, let us unbundle the situation , one after the other.

1) I have understood that you are not an "employee" of the company and so, provisions of "Income under the head Salaries" under the provisions of the Income - Tax Act, 1961 of India, would not be attracted. And so, your income won't fall under the head salaries.

2) Again, as mentioned by you, the TDS is deducted under @10.00% on consultancy fees (under provisions of Sec 194J ) and also on free accommodation.

Section 194 R is a newly inserted section, and it is applicable from July 1, 2022. The wording of this section reads, ... It mandates a person responsible for providing any benefit or perquisite to a resident to deduct tax at source at a rate of 10% of the value or aggregate value of such benefit or perquisite before providing it to the resident......

.......The provision of this section shall not apply to an individual or a Hindu Undivided Family (HUF) whose total turnover/sales/receipt doesn’t exceed INR 1 crore in case of business or INR 50 lakh in case of profession....

TDS deducted under provisions of Sec 194R itself infer that, you are not an employee of the company, else the TDS of such "benefits" would have been deducted under provisons of "Salaries".

In most cases, the deductor of the tax may not be aware about the actual income of yours ( since you are a lawyer, TDS @ 10.00% under section 194R would not have been deducted, if the income from profession is less than ₹50.00 lacs per annum. The deductor might felt to comply with these provisions and may have deducted the TDS AT 10.00% }

To summarise, as explained above,

a. Your income from consultancy fees and as consultant is liable to be taxed under the provisions of "Income from Business Profession" { Section 28 of Income tax Act, 1961}, considering the fact you are a legal professional and getting consultancy fees is your main source of income, under normal course of business.

b. You can claim other legitimate expenses against this income, which you might have incurred to earn this income, as legitimate deduction. Eg. conveyance expenses, stationery expenses, salary payment to your staff,electricity bill, etc.

3) Coming to GST provisions:

There a concept of reverse charge in case of GST , which is applicable to certain class of service providers and legal professional is one of them. As per my reading of the law, if legal services are provided to a corporate body with turnover exceeding Rs 40 lakh, then GST is applicable on reverse charge basis. You are requested to verify, if the consultancy provided by you as consultant to the receiver of the serivices is a corporate & whoes turnover exceeds ₹40.00 Lacs, then, then, it would be the responsibility of the receiver of the services, to honour the GST liability arriving due to payment of consultancy fees to you , as a legal professional, under reverse charge mechanism & if the turnover of such service recipient, is less than ₹40.00 Lacs & if the total receipt under business professional of the service provider exceeds ₹20.00 Lacs, then it is mandatory to obtain GST registration and the onus to collect the GST from the service receiver lies with the servicer provider and to pay to the exchequer.

In either case, GST registration is mandatory, once the turnover exceeds ₹20.00 Lacs in a particular financial year.

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Milind

Milind Vadjikar  |831 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Jan 05, 2025

Asked by Anonymous - Jan 04, 2025Hindi
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Pushpa

Pushpa R  |39 Answers  |Ask -

Yoga, Mindfulness Expert - Answered on Jan 05, 2025

Asked by Anonymous - Nov 13, 2024Hindi
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Hi Namita ji! I am a 41 yr old Male. I have always have too much of gas and keep passing odourless gas a lot through out the day. I have recently being diagnosed with early stages of ankylosing spondylitis. Please guide me. Also, is there any home medicines that I can take to relive from the gas.
Ans: Excessive gas can be caused by multiple factors, such as diet, gut health, or lifestyle habits. Since you've been diagnosed with ankylosing spondylitis, inflammation might also be contributing to gut issues. Here are some tips to help manage gas and improve digestion:

Yoga Practices:
Pawanmuktasana (Wind-Relieving Pose): This pose helps release trapped gas. Lie on your back, hug your knees to your chest one at a time, and gently press them down toward your abdomen.
Vajrasana (Thunderbolt Pose): Sit on your heels immediately after meals to aid digestion.
Cat-Cow Pose: This gentle movement improves spinal flexibility and stimulates digestive organs.
Home Remedies for Gas:
Ajwain (Carom Seeds) and Black Salt: Mix 1 tsp of ajwain with a pinch of black salt. Consume with warm water.
Fennel Tea: Boil fennel seeds in water, strain, and sip after meals.
Ginger and Lemon: Mix grated ginger with a few drops of lemon juice and chew before meals.
Important Notes:
Avoid gas-triggering foods like beans, carbonated drinks, and fried items.
Maintain a regular meal schedule and eat smaller portions.
Consult a healthcare provider for dietary guidance and a yoga coach for safe practice tailored to ankylosing spondylitis.

Warm Regards,
R. Pushpa, M.Sc (Yoga)
Online Yoga & Meditation Coach
Radiant YogaVibes
https://www.instagram.com/pushpa_radiantyogavibes/

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Dr Nagarajan Jsk

Dr Nagarajan Jsk   |197 Answers  |Ask -

NEET, Medical, Pharmacy Careers - Answered on Jan 04, 2025

Career
RESPECTED SIR I APPEARED CLASS 12 BOARD IN 2024 BUT I FAIL AND NOW I APPEARING IN FEBRUARY 2025 AGAIN CAN I GIVE NEET 2025 BECAUSE I WANTED TO BE DOCTOR I HAVE DREAM TO BECOME DOCTOR SINCE CLASS 4 I AM AVERAGE STUDENT
Ans: Hi Jaimin,
Greetings.




The answer which i have given below is based on last year.
ANSWER 1: If you want to pursue medicine in ARMED FORCES MEDICAL COLLEGE (AFMC), PUNE, (Information brochure Admission to MBBS course-2024, PAGE NO. 6)

GENERAL 6. A candidate seeking admission to the MBBS Course in AFMC is eligible if he / she fulfils the following criteria: - (a) The candidate should be a citizen of India. Foreign nationals of Indian origin may be admitted into AFMC only after they have acquired Indian Citizenship or in respect of whom the Ministry of Home Affairs issues a certificate of eligibility. This however does not apply to the 05 Govt Sponsored Candidates from Friendly Foreign Countries. (b) Must be unmarried. Marriage during the course is not permitted. (c) Should be medically fit as per prescribed standards by the Govt of India, Ministry of Defence (see Appendix ‘A’). (d) Age criteria: The candidate should have attained the age of 17 years at the time of admission or should be completing that age on or before 31 Dec of the year of admission of the first year of MBBS course but must not have attained the age of 24 years on that date, i.e., must have been born not earlier than 01 January 2001 and not later than 31 December 2007. Academic Qualifications 7. Candidates must have passed one of the qualifying examinations listed at sub-para (a) to (j) below in the FIRST ATTEMPT with English, Physics, Chemistry and Biology/ Bio-technology taken simultaneously and securing not less than 60% of the aggregate marks in these three science subjects taken together and not less than 50% marks in English and 50% marks in each of the science subjects. They must have also passed an examination in Mathematics of the tenth standard. The examinations are: - (a) The Higher Secondary (10+2) or equivalent examination in science of a statutory Indian University/board or other recognized examination body with English, Physics, Chemistry & Biology/ Bio-technology which shall include practical test in all of these science subjects. (b) The Pre-professional/Pre-Medical examination with English, Physics, Chemistry and Biology/ Bio-technology (after passing either Higher Secondary School examination or pre- University or equivalent examination) which shall include practical test in these science subjects. (c) 1st year of three years Degree course of a recognized University with English, Physics, Chemistry, and Biology/ Bio-technology including practical test in science subjects provided the examination is a University Examination.

SO TO GET ADMISSION IN AFMC - 17 YEARS, FIRST ATTEMPT IN HSC, 60% AGGREGATE AND NOT LESS THAN 50% IN ENGLISH AND SCIENCE SUBJECTS.

ACCORDING TO AIIMS:
ELIGIBILITY
For Indian nationals:
An applicant is eligible for admission to the competitive Entrance Examination of the Institute if the following criteria are met with:-
Nationality: He/She is an Indian citizen
Age: He/She has attained or will attain the age of seventeen (17) years as
on the 31st of December of the year of admission. Candidates attaining seventeen   years on 1st January 2001 or later will not be eligible to appear at  the   competitive entrance examination.
Essential
Qualification:   He/She should have passed the12th Class under the 10+2 Scheme /Senior SchoolCertificate Examination or  an equivalent examination of a recognized Board of  any Indian State with ENGLISH and Medical Group of  subjects, namely   PHYSICS, CHEMISTRY (Organic and Inorganic) and BIOLOGY  (Botany and  Zoology) :
                                              OR    
The Intermediate Science (I.Sc.) or an equivalent examination of a recognized Indian university or a  recognized Board of Education of any Indian State with ENGLISH and the Medical Group of Subjects,  namely PHYSICS, CHEMISTRY (Organic and Inorganic) and BIOLOGY (Botany and Zoology):
                                               OR
Pre-Medical or Pre-Professional examination of the integrate M.B.B.S. course with ENGLISH, PHYSICS,  CHEMISTRY (Organic and Inorganic) and BIOLOGY  (Botany and Zoology); after having passed either the  higher Secondary School Examination o Pre-University Examination, or an equivalent Examination;
                                                 OR
The 1st year examination of the 3-year B.Sc degree course with ENGLISH,  PHYSICS, CHEMISTRY (Organic and Zoology) after passing the Higher Secondary or Pre-University Examination.
OR
Any other examination with the required subjects which in scope and
standard(including its courses and  syllabus) is considered by the institute to be equivalent to Pre-medical/Intermediate Science examination of an Indian University.
Minimum
Aggregate  : He/She should have obtained a minimum of SIXTY PERCENT (60%) marks in aggregate in the 4   compulsory subjects of ENGLISH, PHYSICS, CHEMISTRY (Organic and Inorganic) and BIOLOGY (Botany and Zoology).

FROM PRIVATE COLLEGE: MBBS Course (200 Seats)
Candidates who are citizens of India, NRIs, PIOs, OCIs and foreign nationals are eligible to take NEET.
Qualifying Exam: 10+2 or equivalent with Physics, Chemistry, Biology/Biotechnology and English as core subject in both Classes 11 and 12 from a recognised board.
Minimum Age Requirement: 17 years as on December 31 of the year of admission
Maximum Age Limit: No upper age limit
Qualifying Marks: UR - 50%, OBC/SC/ST - 40%, PWD - 45% (minimum aggregate marks only for PCB subjects)
Maximum Attempts: No limit on the permitted number of attempts.
Nationality:Indian Nationals, NRIs, OCIs, PIOs & Foreign Nationals


Based on the details provided, you are eligible to pursue a medicine course in India, even though you have failed your HSC. Once you clear your +2 exams and achieve the necessary marks to gain admission through NEET, you can apply. However, to gain admission to AIIMS, you must have an aggregate score of 60%. Unfortunately, you are not eligible for admission to AFMC. Therefore, you can consider other options besides AFMC to pursue your studies in medicine.
ALL THE BEST.

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Milind

Milind Vadjikar  |831 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Jan 04, 2025

Asked by Anonymous - Jan 03, 2025Hindi
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Personal Status Current Age - 35Y Male Profession - Embedded Engineer Disposal Income - 1.6L/Month Monthly Expense - 50K/Month Yearly Onetime Expenses - 3L/Year (School Fee, Premiums, Personal) Annual Disposal Income - 19,20,000 Annual Expenses - 9,00,000 Financial Status (1) Term Insurance - 1Cr (2) Health Insurance (1) Company Insurance - 3L (MySelf, Spouse, 2 Kids, Father and Mother) (2) Personal Insurance - 25L (Star Health Assure Floater Policy - MySelf, Spouse, 2 Kids) (3) Emergency Fund - 5L in Debt Fund (ICICI All Season Bond) Current Asset Allocation: (1) Real Estate - 46% (2) Equity - 20% (3) Gold - 11% (4) Debt - 9% (5) Retirement - 16% Investment Plan: (1) Debt - 25% (2) PPFAS Flexi Cap MF - 20% (3) Axis Mid Cap MF - 17% (4) Quant HealthCare MF - 9% (5) Tata Digital MF - 6% (6) Global Fund - 5% (7) UTI Nifty 50 Index - 10% (8) Stocks - 8% Other Investment (Retirement Plan): SSY - 1.5L/Year PF - 2.5L/Year Investment duration: Next 15Years Can you please guide me in the following questions (1) The Allocation to MF are fine or need to be modified? (2) Can you suggest the allocation to Global Stocks MF? (3) The Global Fund suggestion if any It would be grateful if any other things I need to consider or modify. Thank you in advance!
Ans: Hello;

My feedback is as given below:

1. First your term life cover is not adequate. It should be enhanced to
2-3 Cr.

2. Healthcare coverage for your parents is relatively lower considering that they may be in the higher age band hence higher possibility of medical risks.

3. Emergency fund should be parked in overnight/liquid or arbitrage fund. Never in a dynamic bond fund with Macaulay duration of 3-4 years. Returns are not that important as liquidity and low risk for emergency fund.

4. Considering your age the allocation to equity is quite low. Assuming that you have a conservative risk profile still you should atleast have 40% allocation to equity mutual funds(not direct stocks) and taper it down gradually as you approach retirement age.

I mean actively managed or passive equity mutual funds and not sectoral and thematic funds(shouldn't be more then 10-15% of your equity allocation).

5. You already have exposure to global stocks through your flexicap fund. In addition to that you have 5% allocation to global stocks MF which maybe enhanced to 8%.

To maintain neutrality of this forum we are duty bound to avoid indicating fund house preference or recommendation.

6. Allocation to Gold should be max 10% of the portfolio.

7. Consider NPS for retirement planning. It's an E-E-E type of investment with very less withdrawals allowed before 60.

Happy Investing;
X: @mars_invest

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Dr Ashish

Dr Ashish Sehgal  |118 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jan 04, 2025

Relationship
Dear Doctor, Greetings of the day. I am a married man with two daughters. Ours was an intercaste love marriage, and I was fully aware of my wife’s past before we got married. At that time, I had no issues with her past as I believed she had moved on, and I was completely fine with it. We got married in 2008, and due to my job profile, we had to live away from our hometown. My wife is a highly educated woman, and she sacrificed her career to focus on raising our children. Once our younger daughter turned 9, we decided it was time for my wife to resume her professional career. She started a naturopathy clinic in our hometown, while I continued working in another city, living the life of a “forced bachelor.” However, after a year of being apart, I started missing my family deeply. I decided to leave my job and take up another role closer to our hometown so that I could spend weekends with my family. Since then, whenever I visit home, I sense a change in my wife’s behavior and body language. Things do not feel the same between us anymore. I have observed that her ex-boyfriend, who lives near her parents’ house, is a factor in this situation. Her ex’s elder sister frequently visits my wife’s clinic, and my wife also visits her parents’ house regularly, where he is around. I feel uneasy about this because her ex is known to be a drunkard and a manipulative man who can play with her mind. On one occasion, during a family function, he approached me, seemingly about to start a conversation, but my wife made a subtle signal, and he immediately stopped. He was drunk at the time, and that incident has been stuck in my mind ever since. I am unsure how to deal with this situation or what steps to take moving forward. It is affecting my peace of mind, and I feel lost. Kindly guide me on how to approach this matter.
Ans: It’s understandable that you’re feeling uneasy and concerned about the situation. Relationships, especially long-term ones, evolve over time, and external factors can create complex dynamics. Here’s a step-by-step approach to help you navigate this:

1. Clarify Your Feelings
Reflect on what exactly is making you uncomfortable—your wife’s behavior, her interactions with her ex, or the idea that her past might be resurfacing.
Separate your assumptions from facts. It’s important to ensure your concerns are grounded in reality and not solely based on fears.
2. Open Communication with Your Wife
Choose a calm and private moment to talk to your wife. Share your feelings without accusations or judgment.
Use “I” statements, such as:
“I’ve been feeling uneasy about some things and would like to discuss them with you. I value our relationship and want to ensure we’re on the same page.”
Be honest but gentle. Aim to understand her perspective and ensure she feels safe sharing her thoughts with you.
3. Understand Her Perspective
Ask her how she’s feeling about the current state of your relationship, her work-life balance, and your family dynamics.
Inquire about her interactions with her ex’s family and clarify if they are merely coincidental or something more deliberate.
4. Establish Boundaries
If the situation with her ex is a source of discomfort for you, it’s okay to express that and set boundaries together.
For example: “I respect your independence, but I feel uneasy about the proximity to your ex. Can we find a way to address this together?”
5. Revisit the Relationship Foundation
Long-distance and career changes can create emotional gaps. Reconnect with your wife by revisiting shared goals, dreams, and moments that brought you together.
Plan activities together, even small ones, that allow you to strengthen your bond.
6. Self-Care
Feeling lost and restless can impact your mental and emotional health. Engage in activities that help you stay grounded, such as exercise, meditation, or journaling.
Seek support from trusted friends or a counselor if you need a safe space to process your feelings.
7. Consider Professional Guidance
If the situation continues to strain your relationship, couples counseling can be a constructive way to work through concerns with an objective third party.
8. Evaluate the Bigger Picture
Look at your wife’s overall behavior and commitment to the family. If her actions consistently demonstrate care and loyalty, the presence of her ex might be less significant than it feels.
Conversely, if her behavior indicates distance or secrecy, it may warrant deeper introspection and conversation.
Key Principles
Trust but Verify: While trust is essential, it’s okay to seek clarity when something feels off.
Non-Confrontational Approach: Avoid making accusations or assumptions. Focus on fostering mutual understanding.
Focus on Solutions: Work together to create a relationship environment where both of you feel secure and valued.
This is a sensitive issue, but with open communication and a collaborative approach, you can work toward restoring peace of mind and a deeper connection in your marriage.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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