income for Assessment cost

OneThatGotAway

Well-Known Member
#1
HI,

I am from mumbai. and today i went to CxA for my stock trading
income for Assessment and it;s my first time so i was kind a shock
he quoted me R.s 16000

I was like no it;s too much i decided to go to second Ca hoping cost be less.
The second CA told me R.s 20000 for doing my F& o income for Assessment

I wonder if all of u guys are paying Ca that much .:confused::confused:

Are these rate even normal ... we put our 200K hard earned money then we take loss on top of that pay
them cost to submit out loss this is bullshit is n;t there any way to avoid that ....
 
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nac

Well-Known Member
#2
Cost depends on lot of factors, your trading volume, CA's experience, if he's in metro sure cost more...

If your case is non-audit case, shouldn't cost that much. In fact, you can do it yourself if it's a non-audit case.
 

LOVEENAJYOTHI

Well-Known Member
#3
HI,

I am from mumbai. and today i went to CxA for my stock trading
income for Assessment and it;s my first time so i was kind a shock
he quoted me R.s 16000

I was like no it;s too much i decided to go to second Ca hoping cost be less.
The second CA told me R.s 20000 for doing my F& o income for Assessment

I wonder if all of u guys are paying Ca that much .:confused::confused:

Are these rate even normal ... we put our 200K hard earned money then we take loss on top of that pay
them cost to submit out loss this is bullshit is n;t there any way to avoid that ....
Test123
If urs is a Mandatory Audit case U/s44AB of IT ACT, Rs.16000 is a Reasonable Quote considering u r in Mumbai, However its a competitive market, try some newly qualified CAs.
 

canikhil

Well-Known Member
#4
HI,

I am from mumbai. and today i went to CxA for my stock trading
income for Assessment and it;s my first time so i was kind a shock
he quoted me R.s 16000

I was like no it;s too much i decided to go to second Ca hoping cost be less.
The second CA told me R.s 20000 for doing my F& o income for Assessment

I wonder if all of u guys are paying Ca that much .:confused::confused:

Are these rate even normal ... we put our 200K hard earned money then we take loss on top of that pay
them cost to submit out loss this is bullshit is n;t there any way to avoid that ....
So according to you, the CA should waste his hard-earned qualification and time? you take loss because you want to earn profit but have not got your strategy right yet. That has nothing to do with a CA wasting his time or shortsell.
 

OneThatGotAway

Well-Known Member
#5
ty for answers

it;s non audit case.... they Levi on you sec 142(2) lol
My turnover of 2013 was over R.s crores.

Yesterday i found a new thing lol whatever amount in year
sell amount + buy amount * 0.8% and govt thinks you have that much income already unless u file an audit .

Another thing i came to know is...
You don;t get to carry forward loss if u not do audit. so no ca will do audit of year 2013.
You submit audit then u get to carry forward loss.

so now u get stuck with nice Tax date with officer in August.

Since it;s loss and we neevr made book of account :-
R.s 10k to 25k is sure amount they will leech of you to settle it showing they
have power to impose 1.5 lakhs as penalty



I was laughing hard .. i thought what would i do if i don;t trade in stock
Business ? Now i know why most of indian public not doing stock market unlike in foreign countries where
80% of population plays stocks market

 
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nac

Well-Known Member
#6
^
Learn how to do it once, and you won't feel filing ITR and maintaining books of accounts is a tough job.

Yes, you can't carry forward loss by filing 3yrs late.

If your case is non audit case, you don't need to get your books audited and you can still carry forward your losses.
 

newuser_RK

Well-Known Member
#7
One day a tax called Death tax would imposed. Whereby a certain. % of ones wealth of a person who dies need to be paid to the government. Reason being one has already enjoyed his life on earth and now its time to pay back to those who are left behind.

Sent from my AO5510 using Tapatalk
 
#8
For Audit cases a CA fees of Rs 10,000 and for non audit cases Rs 5000 plus Service Tax seems reasonable.We as traders should prepare our books of accounts on Tally and hand over the backup to our CA.

If we do business, we have to be prepared for these costs.Taxes are very reasonable in India. If people dont pay taxes, how will Govt carry out its development and infrastructure work ? Govt should expand tax net and bring more taxpayers under tax net. Agricultural incomes above Rs 2.5 Lakhs need to be taxed as marginal farmers dont earn over that amount.

Smart_trade
 

niftygupshup

Well-Known Member
#9
Death Tax :lol: :lol:

It will not be a new tax. We Indians had it previously. The tax imposing brothers have left nothing to leech out in the name of tax. Not even hava paani. You people may be surprised to know that there was such a tax in India, known as, Estate Duty

"The VP Singh government, way back in 1985, abolished estate duty in India. The moneyed heaved a sigh of relief — at its peak, the estate duty rate in the country, was, believe it or faint, 85 per cent. So India is among the countries of the world where there is no inheritance tax or estate duty."

http://www.thehindubusinessline.com.../the-burden-of-inheritance/article6777883.ece
 

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