How businessmen save Tax on Personal Expenses | Legal & Illegal Ways
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- Опубликовано: 28 окт 2022
- This video is to guide viewers on how Indian businessmen claim their personal expenses legally and illegally to reduce their taxable income in India.
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As an entrepreneur, these kinds of videos are very valuable and educational. Nobody teaches taxation, accounting and finance for new entrepreneurs. 20% knowledge of real world that has 80% impact. I'd pay for a course like that.
@TARUN GUPTA no, those are for students preparing for CA. I'm talking about a course for entrepreneurs/business people.
As an Entrepreneur 😂,
kuch bhi,kuch bhi,kuch bhi
Thele wala speaker banner se apni publicity karta hai aur bolta hai Entrepreneur,changed the way of selling.
Nahi hota hai yaar.
Transformational And Disruptive kuch leke ao aur usko bhi successful banao tabhi entrepreneur ho.
Ek Naya idea se nahi hota hai Entrepreneur
@@anirbanpatra3017 abey , khudki padhai ka stress dusro pe mat nikaal. 😂 khud duress mai hai isleye dusro ko judge kar raha bloody misanthropic
what are you building?
Suddenly through these Case studies, theoretical provisions get much clearer and practical which during study time looks so painful
What provisions were said in this case study can you say? This feels like just a general category of how to identify anything that comes into PGBP and you hope that the government accepts your reasoning and doesn't try to fine you.
Apne sir k ca final student ho kya?
Future and options trading income tax saving video..please sir
Bhai aap inter ka attempt kab doge
@@cricketplayer4539 m final m hu bhai
i am a lifestyle influencer - will claim EVERYTHING lol
My every weekend after watching this- Waking Up> Party with clients> Lunch with clients> Purchasing electronics for client's kid> dinner with clients> sleep.
Aj se mera pura family e client hai
Another practical and informative case study, sir thank you🙏
Sir your case studies are amazing that gives us a practical knowledge about the concepts and getting more interesting day by day.
Thanks for sharing and increasing knowledge of a common person about taxes🙏
Sir mujhe taxation se bht dar lagta hai but after watching your videos I started studying it with conceptual clarity rather than mugging up. Thankyou
Maza aa gaya Sir
Your videos getting more interesting day by day.
After watching your videos i know so many legal ways to save taxes, but the problem is I don't have that much income.
😅
If Government reduce tax rate on our income (business income, salary income etc.) to a reasonable way then i think these type of irregularities made by taxpayers will come down automatically to a large extent.
Well those who dont want to pay tax will never always resort to tax evasion.
Tax rates are already low in India compared to many developing and developed economies.
@@apurvaprajapati3354Yes, Tax rate is less than many developed and developing economies but these rates are very high in itself
No, then the greed to save tax would increase further. It's always like that
sir ye ps 5 allowed hoga kya if its used for employees' refreshment/morale? like in a new age startups its a common phenomena
Very nice and help common men to understand taxation
On what bases we'll get claimable amount on business expenses like if i bought a car on my ferm then the expenses on that car ( services, fuel etc. so how much amount I can claim on that car
hello sir, agar me client ke saath meetings ke liye jaise apnei bola hai restuarant bar kahin bhi jaakei khana peena ya kuch bhi expense kiya hai, than to avail the ITC expense bill jab woh log deta, maximum log sirf bill deta hai naam nahin daalta, toh udhar kaisei avail ya claim kar saktei hai??
Such a wonderful content... Guys at least give a like as symbol of good gestures
Sir ek doubt hai.. initial fee paid to acquire corporate membership par depreciation claim kar payenge? Kyunki dekha jaye toh yeh capital asset hai business ki
Great knowledge 👍
In ola company who can claim the depreciation
again one more practical life ne use aane vala video 🤟 👏
sir wear suits in summer and wearing t-shirts in winter season
Sir your way teaching style no. 1
Sir ke ghadi ka business kaafi progress me hai or ab to 5 floors bhi ban gaye showroom me 😁😂
And sir you should make a course with sections thst are important for personal finance decisions like people who file their own return should know about. Or taxation laws for the genral oublic who are not CA. It would generate more revenue for you...
अद्भुत अद्वितीय अकथनीय अलौकिक
sir i go on car to my shop can i take patrol exp as business expense
After taking your classes.....iss video se kuch bhi naya sikhne ko nahi mila🤣🤣🤣
F&o trading par claim kar sakte he kya
Lets say i pay x amount from my personal credit card linked to my savings acc.
And then i reimburse it from my companies account later. Can i claim the expense.
(I just started a company but i pay electricity bills from my personal CC)
Hello Sahil Sir, I'm Manish your big fan.
Please answer me a question...
Currently Fy23-24 ki meri sales hai 35,lakh and profit hai 4,20,000 and no investment and no health insurance jis wajah se mujhe income tax main koi deduction nhi milegi, please guide me ki mujhe New ya Old Tax Regime main ITR4 File karna chaiye kyonki main baad main change nhi kr paunga please...
And yes Main next 2 year main investment bhi karne wala hun and helth insurance bhi lene wala hu khud ke liye bhi aur parents ke liye bhi...
Now guide me...
Sir GST may 2023 kab start ho ga apka batch ? Pls reply
sir hum bhi gaming ka businees kiya tha lekin police usko jua bol rhi hai. ye to service hee hoga na kyuki mai paise leke device use krne de rha hu customer ko. lekin police aur public bol rhi hai ki mai gambling kar rha hu. koi kuch idea batao kya kare hum.
Perfect explain sir.
What if i am a business man but I have a side youtube channel (monetised)and whenever I want to buy anything I just make a video that barely gets 100 views, but technically it is still a business expense?
how to pay taxes in forex income ?
Sir you have your practice but still sell courses.... But I head practicing CA cannot do any other business.... Pls explain
Sir, Do I need to Pay Income tax to Indian Government if i live in Dubai (Indian) And trade in Indian Stock market Derivative daily?
Sir, kya entertainment products such as gaming console or tennis court for my employees so that they can be more productive. Can I claim tax deduction in that scenario?
that would be staff welfare expense for income tax. though, under GST, no input-credit allowed.
Can you do class on Long-term tax obligation for sell of Property and treatment of House loan cost on acquisition cost and related court judgement
bahut ache se samaj aya
Part time trader(employee) & full time trader, which expenses they can claim eg. Mobile, laptop and how they can use it for personal purpose also and save tax on this pure legally?
Please make video on these expenses. Thanks
Can we buy or build house for rent income, it will also be business expense?
And then I can live in that house and show no one is takin my home for rent and I am getting loss.
Is it possible 🤔
Dear Jain,
Grateful to you for your informative and concise videos, simplifing the complex subject of Taxation.
Sir, if I sell my NASDAQ 100 FOF with capital loss , can I set off this loss against my capital gains from my Indian Demat account STCG Tax ?
Sir rode ka blutooth mic use kijie
Kya apki books sperate militi hai kya.
One question, I have a newly incorporated steel service center(processing it into usable form) Can I avail concessional income tax rate at 15% instead of 30%?
Yes, if you incorporate after 1st oct, 2019, then you can avail the benefit of Sec- 115bab i.e 15%
Sir ek request bollowod industries ke logo ko personal expenses and bade businessman like tata, wipro, ambani , Infosys in sab ke personal expenses ka kya treatment hota h unka tax saving kaise hota
sir,can u explain what happens in income tax raid in real life??
Excellent 💐💐💐❤️❤️❤️
sir flipkart amazon pe jab mobile buy karte and gstin add karte toh waha likh k ata u cant add gst number ....so sir why we cant add it??
you need to open i think a fresh business account.
Dear sir please start your services for entrepreneurs. We are waiting.
Imagine how much a lifestyle vlogger can save money by this way😶
F*** 💀💀
SAHIL SIR! AAPKA IMPOSTER.
Sir, kindly make one video how film Stars considered in tax system. The individual star considered as an entity? So that he or she can show the makeup and other logistics expanses being the part of their cost of business ?
Sir apki class buy krni h ca inter tax kha se buy hogi ??
Thank you sir.
Brilliant!
Sir till how many previous years Dept. can sue a person for tax evasion?
i think it was 8 years
sir ka thumbnail ek dum mast hota h
Sir mere ak questions hai
Aap bole na personal expansion example aapa nai Diya hai family or personal resturant mai jate vo bhi claim ho sakta hai lekin aapa nai way bataye ki vo exapansion ko client ke liye kharcha kiya hai par lekin goverment bole ki vo client full information de tab ky kare 🤔🤔
govt officer will never ask such detailed question. if he does, that is just am excuse for bribe because its impossible to prove/disprove
Thank You Sir
Explain the KCC sir
Kindly make vedeo on cash expenses. On Practical issues
Awsome sir 💫 please make video on forex trading income tax saving.,.
Sir. Jalna Maharashtra me jo raid padi thi
One question regarding tax benefits on PS5 expense: If I work from home and have an employee who comes to work with me, I have purchased PS5 for his and mine(owner) recreational purposes, that is when we take break from coding in our work. Can I claim this in my taxes for business??
short answer no. long answer no. because it has nothing to do with business.
@@Rogue-Bull In that case, if my office has a PS5 in the game room which can be used by employees. Isn’t that a business expense? If yes, then just the location matters? If company’s founder plays a game or two, will it not still be business expense or personal?
Maybe I am going too deep into this, would appreciate if you can help
@@shashwatgrover1 now that would be allowable since its a staff welfare. but then it is not even a personal expense. this video title is misleading. whatever examples given by the speaker, 0 personal expense were allowed deduction. if you put PS5 in office in recreational room, then its a clear cut staff welfare expense so it jas nothing to do with personal exp. also, feel free to ask whatever; no issues
@@Rogue-Bull bro u only think how will u show this bifurcation of what is personal and what is related to business.. as per salary head, use of movable asset.. this would be covered
Sir mic not good. It's not at all clear. Earlier when you were teaching while siting it was less distracting and we could focus more. please switch back.
Agreed. Will switch back from next video. Thanks for the constructive feedback.
sir please make a video of ca vs cma
Please do a video on Presumptive taxation
Sir pls make vedio on capital gains !!
sir i,m small farmer and my request for fpc {farmer producer company} related full information .eg- what is farmer producer co. which fpc benefit, registration procedure and which place inquiry for registration the fpc
Hi
I work as a freelancer and as a full-time employee. Clients used to pay me directly through Fiverr and PayPal. Does this have an impact on my job? & Will my employer keep track of all of this? If you offer consultations, I would be delighted to speak with you.
based on 99% employment contracts, you can't have other such income source so its illegal. if found, you will be fired. if not found, even then this is your business income to be added to your ITR.
Sir What about if Proprietor’s business address is same as its residential address. I meant it’s Gst registration address is of its house and he/she works from home .
Nothing wrong in it.
you didn't even ask any question lol
Sir if I purchase a smartphone of Rs. 20k for my child , but show it as a gift for my client , then can I claim it
GST me to khane 17(5) me restricted hai
That's a good topic, I'll take care of it. But there is something, which is your voice - it's not that accurate like your previous video-audio, it's different. 👍🏻
What Happens if my store/shop is in my own home??
where is the question? apart from same house office scenario, you didn't type yoir query
Sir please explain GST on animation and gaming..
I’m not a businessman but I sold a flat in another city, for which I had to book flights and hotel and local commute expenses (I have all the bills). Can I get an exemption on the flight & hotel expenses? Also, Mr. Jain, are you open to taking clients (please pardon the question, my CA is incommunicado & I’ve been under a lot of duress since the sale. I fall under the NRI category so my troubles are a little different & not many helpful people, even if my CA made me pass brown envelopes of which I have records.) Thank you. 🙏🏻
I think you can't claim those expenses because selling flat is not your business. But I think you can deduct those expenses while calculating long term capital gain tax.
@@sushil2kashyap thank you Sushil ji. It’s a good lead. I’ll definitely keep it in mind when I find a consultant to pursue my case. 😊🙏🏻
cost incurred on selling capital asset can be reduced from sale consideration.
@@arpitadatta2711 Most welcome sir. I am happy that main aapkay kaam aa saka. Regards.
@@Rogue-Bull thank you Abhinav ji. This is a big help. Any particular section under which I can do that? Sorry I am abusing your niceness. 🙏🏻
sir mujje bas ek baat batao....
agar maine business karne ke lea loan lia hai to end of the ear loan ki kist ko mai expence dikha kar tax bacha sakta hu ya nahi
Interest amount ka mil jata hai principal ka na
Sir could you please add subtitles to all your videos
What if I am working from home and I order PS5 for taking a mental break from work by playing ps5 which will in turn help me stay focused at work and increase my productivity? This sounds funny to me but people like Dan Bilzerian seem to write off huge expenses as business expenses giving such reasons.
not allowed as expenses deduction.
Thnx sir
Please make videos for salaried individuals
Sir imagine a case(similar to your case) where a business man has a business of watch and he wants to purchase a play station for self enjoyment, for that he opened a youtube channel and started playing there and shows it as a business ...
As early stage there is no income so there is negative income at the end of year( due to depreciation and other expenses claimed) .
The loss can be set off from watch business or can be carried off ...
By this he can kept his play station at home even.. 🤔🤔🙄🤔
Please clear my doubt sir is this can be done or be legal
No if playstation is purchased while availing ITC on it then it should be used for the business of watches strictly. Hence you cannot keep it at your house.( You can but if they find it then credit will be reverse and penalty/interest will be charged)
Your alll vidios are very use full sir thanks to give a valuable vidio sir
👌
Sirrr VOICE QUALITY IS NOISY
sir har 2 days pe ese case studies upload kariye
If I setup gaming zone in my factory for my employees then In that case sir ?
In that case also, it qualifies as a genuine business expense.
@@TaxationWithCASahilJain sir Jo game ki 1 lac ki price hai wo toh poori depreciation me claim kr sakte hai year by year ??
@@TaxationWithCASahilJain lekin sir aapne jo bola USS hisaab se toh hame originally me ps5 office me hi lagana hoga if claim krna hai toh
@@TaxationWithCASahilJain thank u sir
@@anishagarwal2872 Legally haan... But ghr pe bhi lgaloge toh koi ni puchta...
Arey sir. Tax mock test paper toh deydo
Sir can you make a video on how did you have such confidence and communication skill thst you ahve right now.
And Also my observation is that all good Teachers in the CA community never took coachings themselves so everyone should self study the subject they like which would make them more knowledgeable about the subject than anyone else as they would have watched 2-3 videos read the full book and passed the subejct. I think coaching should be taken for the subject we hate and self study for the subjects we like would be ideal....
Sir GTA 6 ki leaks hogai ha ab abhi bhi GTA 5 pe ho.
Sir CMA inter ka indirect taxation ka classes bhi start kariye. 🥲
Humble request to you please make a full detail video on how to save short &long turm gains tax on cryptocurrency earning
Many invester are interested in this topic
Does global recession affects CA fraternity?
no
can someone justify this, suppose i buy a car for my personal use however it does help me in operating my business as im only self-employed, so here can i claim the taxable amount ? please insight most welcome
Claim taxable amount? What does that mean?
@@artfuldodger806 i want to use the amount for my gst filing
@@taihage8218 no, ITC cannot be availed on it as per section 17(5)
Sir, kya hum ps5 ke expense ko employee benefit expense nahi dikha sakte?
employees ke entertainment ke liye lagaya gya hai aur employees hi business ko run karte hai to technically yes.
@@RakeshMishra_in thank u for a positive reply. 😊
i thought i was going to ask a silly question coz i am in class 12 and don't know much.
@@nishantjakhar2497 no question is silly. Keep asking and never care what others might think.
@@RakeshMishra_in it can be availed but it will be taxable to employee as perquistes
@@darshanbothra thanks for this information I don't know about this thanks.
❤️❤️
Post tax income ke baad bhi items ke purchase pe extra tax dena is nothing but looting.
I am a sole proprietor. How can I save taxes?
You should consult a professional