I have no commerce background and i knew nothing about taxes, but from last one years i am watching your videos and now i can proudly say that i know something about taxes and GST laws.You explain things in over simplified manner.Thank you sir from the bottom of ❤.
Alternative Approach : Don't pay Taxes . Evade Taxes and reduce the Tax liability from the total cost of the Mac. You may even end up with a net surplus and a notice from IRS.
@@sjborah4359 Bro there is a provision in gst that GST paid on any asset can be claimed as ITC or u can add that gst paid in cost of asset and then charge depreciation under income tax act on such increased cost Note:- u must have knowledge of taxation laws
It's good for explaining the concept. But in real world it's like renting a MacBook for 3.5 years as you sold the asset. It's real cost would be nearly around 62k if you don't sell it. A person when buying an asset don't calculate the cost after deducting it's resale value. Ps: You're videos are very helpful for conceptual understanding.
i wish every TAX TUTOR shall LEARN from you the way how to TEACH TAXATION. TAX is the only subject where you cannot read and remember. TAX is the most technical subject. you dont need to study hours and hours. you just need to understand the provision and mug the rates and penalties and thats it. while studying TAX i assume myself a CA and then do the sums and read the sections
sir as usual great content !! Requesting a video on : 1) benefits of purchasing fixed assets to a company, such as industrial machinery on a loan from banks. (Considering banks fund 80% of machine invoice value and expect 20 % contribution by the purchaser company) 2) tax benefits under GST input tax credit & depreciation expenses under P&L for income tax. 3) expenses under P&L for interest paid on loans + financial charges. 4) 😀please help in understanding other benefits Requesting this video as it would be helpful to beginners in 2 profession : 1) machinery sales team 2) bank employee's for better understanding tax benefits to machinery purchaser on loan. Thankyou 👍🏻
Dear Jain-ji, some of your ardent audience are from non-commerce background, here to see if we can save some taxes on our hardearned money. Can you please educate us too with simple examples? Thank you
Sir, Thera are millions of businessmen in India with huge accumulated ITC with no or little GST payble. Please make a video containing the ways (Legal or illigal) to use this blocked working capital.
That particular Macbook will cost you 37K & to me 30K only.. I shall buy it second hand from you Sir. Simple.. Just Kidding.. Great Info shared. Thanks..
It might not be required on site but you will need it in office right? for your staff including u (Ig on TV u won't get it but other electronics u can)
But one thing to add is that the machinery should be purchased...not machinery manufactured by any company..alstom making train engine cannot be entitled to sell any of its parts as stock clearance or as scrap...sir ur view on it if i m wrong
Got the point but can you tell me what is the best option either take itc from gst on tax component or we should take depreciation on tax component in income tax??
Please make one video on taxation basics for LLP or Partnership firm for doctors , all legal aspects from taxation point of view. For doctors many things are different, need your help
pls sir..make video on how big company like amazon, hp, fedex, salesforce pay zero tax rather having 100% profit of their....how they benefited by creating subsidiary company in accounting method!!
Hi Sahil loved the Video was really looking to buy a Laptop for my Freelance business this will be really helpful, Can you also suggest how do these Laws apply on Used Products like Laptops or Machinery. Can we claim ITC and Depreciation the same way or are there any other considerations in the IT law?
Hi, I am a CA student. Or freelancer ke business main depreciation to le sakte ho par GST tabhi claim kar paoge jab aap samne wali party se GST collect karke GST portal pe pay karo
I purchased a laptop of 62,990/- in Nov 21, so in the bill laptop was showed of 53,381/- and the GST was 9609/- on it. So i got it under my name but used GST number of a friend's business in it. Someone please tell me whats the amount ill be getting in this. When i asked him he said that 9% is SGST and 9% is CGST that means ill be getting 4805/- which is one among em. Help me clear this scenario.
Hello sir mera ek question hain ki let's say meine laptop use kiya 5 years tak and then laptop due to some reason break ho gaya or stopped working so usko kaise dikhana chahiye? and what if before 5 years ho jaaye?
Sir depression 14 days tak ka he hota hai I guess like if we buyer a 1 lakh11 pro max and then iPhone 12 is launched then if there is a drop in price in11 pro max so we can claim the difference of money dropped for 11 pro
Are sir ease to me bhi kah du ki maine 25 lakh ki innova 14-16 lakh me li hy. Mann ligie 25 lakh me kuch GST laga wo bach gya + maine 10 lakh ki maine bech di wo bhi reduce ho gai.
92900 included gst which means if cost would be 100 then gst (18%) would be 18 this invoice value would be 118. Thus if 92900 = 118 then what is 100 = 92900/118*18 = answer.
Sir ek question tha...agar hum kuch bhi order karte hai amazone ya Flipkart se gst par toh kya hum usse use ghar ke liye apne kar sakte hai ya nahi...aur kya us product ko survay karne wale aa sakte hai ki ye aap kis purpose se liya hai aur use kaha ho raha ye dekhne ke liye?
This channel deserve much support.I m from software engineering background but i enjoy this channel video.love u
I have no commerce background and i knew nothing about taxes, but from last one years i am watching your videos and now i can proudly say that i know something about taxes and GST laws.You explain things in over simplified manner.Thank you sir from the bottom of ❤.
@Parikshit Singh I don't think so, GSTin numbers are for businessman only
@Parikshit Singh NO
Likewise
@@RaviTeja-im4vd no because it includes gst number
He is the best Taxation teacher out there.....you cannot convince me otherwise !!!
One of the best.
Yes one of the best
BB Sir.❤️
you make the subject easier for me, great teaching and communicating skills 👌👌
Soooo practical tips useful even for non-CAs! beautifully explained
the proud moment when you already know all this because you are sir’s student
Ye bhai ham engineers ko bhi CA banakar chhodega!! Btw Kudos to you bro, your analysis, and explanation are best. Keep it up👍
Imagine if all your teachers in life had this level of understanding of their own subjects! ❤🌟
Honest Dil se respect sir, kam time mein ekdum seedha seedha samjha dete hai aap
Another classic Crime Patrol Video 😂❤️
Diesel*
@Harsh Verma 🤣🤣
😂
Savdhan CBDT 😂😅
😂😂😂
I think I found your channel the best channel on RUclips
Great video sir ji..
Maja agaya Tax & GSt ko combined tax effect dekh ka..
Alternative Approach : Don't pay Taxes .
Evade Taxes and reduce the Tax liability from the total cost of the Mac.
You may even end up with a net surplus and a notice from IRS.
IRS be like : hame ab dollar ka rate badhana padega
Based
IRS has no jurisdiction in India.
@@yj9032 wtf do you mean irs has no jurisdiction lol? IRS is Indian revenue Service which further has CBDT and CBIC
@@yj9032 Abe aangrej ke chode, IRS = Indian Revenue Service(India) not Internal Revenue Service(USA). Itni safeed gand chatoge toh apna system kaha yaad rahega.
Already knew the dep vs ITC concept Thanks for brushing up the points🙂
Tum bhi maachudao
practical socho, Concept concept me jindagi nikal jaayegi
@@mersenne2486 Bhai pta hai isliye bola na concept bhi or practicality bhi
Bhai concept smjh aagya pr depriciation kaise avail krenge vo to ni milega
Bhai ye depreciation kya hai? Smj nhi aya
Thankyou so much sir , i regret why i'm not a commerce student , i'm excited to know about taxation and all this stuff .
You can also directly divide the amount by 1.18.. You would get the final amount after removing gst...
And here I am thinking that either ITC or depreciation can claimed
Without noticing the word "tax component"
Clearly knowledge full video 👌👌
Same
Bhai ye depreciation claim kya hota hai?
@@sjborah4359 Bro there is a provision in gst that GST paid on any asset can be claimed as ITC or u can add that gst paid in cost of asset and then charge depreciation under income tax act on such increased cost
Note:- u must have knowledge of taxation laws
@@rishabhjaiswal8476 ok thanks bro ..
Bdw I'm from science background.. isliye jyada smj nehi aata hai.
This channel is so under rated , deserves more than 337k subscribers
4:42 Great video. Practically Almost sare log cash me sell karte hai which makes the benefits even more lucrative.
Sir please bring more videos like this as this is enhancing our knowledge
It's good for explaining the concept. But in real world it's like renting a MacBook for 3.5 years as you sold the asset. It's real cost would be nearly around 62k if you don't sell it.
A person when buying an asset don't calculate the cost after deducting it's resale value.
Ps: You're videos are very helpful for conceptual understanding.
Have you taken the clases from the sahil sir for IDT ?
Thanq boss ur comment makes me to understand the concept ;)
@@weebees8596 No
Bulkul sahi hai
Devansh i didnt get you, can you elaborate plz?
This is golden knowledge 🤟❤️ nobody gives it for free 🤟 thank you so much sir
i wish every TAX TUTOR shall LEARN from you the way how to TEACH TAXATION.
TAX is the only subject where you cannot read and remember.
TAX is the most technical subject.
you dont need to study hours and hours. you just need to understand the provision and mug the rates and penalties and thats it.
while studying TAX i assume myself a CA and then do the sums and read the sections
easy to understand and extremely helpful. thanks for sharing.
One of the best educational video with practical experience
Sir Deprecitation Sirf Tabhi LAgta Tha Hai Kya JAb Sales 10lakh + Ho Buisness Ki ?
The net cost of the asset in the example is any case is a business expense, whether more or less.
i wished i have taken your classes ....u r an inspiration sir...thanx for these videos
Warning: It is not necessary to sell your Mac for get it @37k
Do I have to pay taxes if I want to keep it forever??
@@iamlabeeq yes
I got MacBook for 5000 only. I sold it next week of buying .🤣
What if I report it as broken/ non functional ?
Thankyou so much sir. Another amazing video.. Really a masterpiece of knowledge
Great information but Misleading Title. Nowhere it is mentioned that a new 93k Macbook could cost 37k AFTER SELLING IT!
Is this viable for students or working class
You are the best Tax teacher💯
sir as usual great content !!
Requesting a video on :
1) benefits of purchasing fixed assets to a company, such as industrial machinery on a loan from banks.
(Considering banks fund 80% of machine invoice value and expect 20 % contribution by the purchaser company)
2) tax benefits under GST input tax credit & depreciation expenses under P&L for income tax.
3) expenses under P&L for interest paid on loans + financial charges.
4) 😀please help in understanding other benefits
Requesting this video as it would be helpful to beginners in 2 profession :
1) machinery sales team
2) bank employee's for better understanding tax benefits to machinery purchaser on loan.
Thankyou 👍🏻
Best content so far
sir ji kamal ka samjhaya apne🔥🔥
sir please upload more such "pratical" videos... too good...
Sir apke jaise teacher hoto sabhi CA ban jaye👌
Dear Jain-ji, some of your ardent audience are from non-commerce background, here to see if we can save some taxes on our hardearned money. Can you please educate us too with simple examples? Thank you
this video came in my recommendation on such a right time, tahnkyou sir
More than anything i love the intro...😍😍😍
I am watching your content for the first time, It is nicely explained!.
P.S. You just gained a subscriber :)
Thanks for explaining it really well! I've been putting off learning soft soft cuz it looks so intimidating but now that I easily understood the
Sir, Thera are millions of businessmen in India with huge accumulated ITC with no or little GST payble. Please make a video containing the ways (Legal or illigal) to use this blocked working capital.
Can we claim gst on mobile phones because my Lawyer says that now gst is not available on mobile phones .
Is dep applicable on iphones ? I watch ?😊
agr business asset hai toh
How to claim depreciation
Fantastic explanation!!
7:11 Sir, Personal assets pe capital gain calculate nahi hota h na??? Please reply
ITC claim kiya to personal kaise hua.
I have asked a question some time while before, now here it is. 😉 💯💯
That particular Macbook will cost you 37K & to me 30K only.. I shall buy it second hand from you Sir. Simple.. Just Kidding.. Great Info shared. Thanks..
Nice narration.. !! Quite an insight
I'm into Construction business, Can i get GST ITC of Television or Laptop etc which is not releted with my construction business ??
Same query. I think we can
Yest
It might not be required on site but you will need it in office right? for your staff including u (Ig on TV u won't get it but other electronics u can)
Thank you sir for the knowledgeable content.
But one thing to add is that the machinery should be purchased...not machinery manufactured by any company..alstom making train engine cannot be entitled to sell any of its parts as stock clearance or as scrap...sir ur view on it if i m wrong
Superbbb explanation sir
I thought he said ! Haa Ji , Garibi as an intro 😂….. I was lyk , sala kere ko gareeb bolta h😂in babu Rao style
Well done tq and keep posting such videos
Got the point but can you tell me what is the best option either take itc from gst on tax component or we should take depreciation on tax component in income tax??
Good explanation ❤
This is applicable only for people doing business or individual also??. How can we identify the depreciation percentage on particular items??
Only for Business and Profession..if doing some business and for tax rate it is mentioned in act
By using scrap value
Personal kharidne ka hai ya company ke Nam se
Please make one video on taxation basics for LLP or Partnership firm for doctors , all legal aspects from taxation point of view. For doctors many things are different, need your help
Hello sir.
Which app you use on ipad and how you mirror it please suggest
Should the invoice name be same as business name, and can the address be different??
producer's version? I just want to make sure I get the right one for .
What happen if I not use this laptop in shope and give it to relative
pls sir..make video on how big company like amazon, hp, fedex, salesforce pay zero tax rather having 100% profit of their....how they benefited by creating subsidiary company in accounting method!!
Dep rate on ipad 11inch
What about the tax that is paid for the laptop?
Hi Sahil loved the Video was really looking to buy a Laptop for my Freelance business this will be really helpful, Can you also suggest how do these Laws apply on Used Products like Laptops or Machinery. Can we claim ITC and Depreciation the same way or are there any other considerations in the IT law?
Hi, I am a CA student. Or freelancer ke business main depreciation to le sakte ho par GST tabhi claim kar paoge jab aap samne wali party se GST collect karke GST portal pe pay karo
What is someone is unable to strike a deal and just files a Nil GST all year round.
@Parikshit Singh No, you need to be GST registered
@Parikshit Singh yes
What if we dont sell the laptop???
Good morning sir,
Kya me renewed laptop kharidane me GST claim kar sakati sir..? Amazon business account par
Sir cashback ki treatment par video banaiye
can I get a GST number for my HUF and then claim these benefits? Income in HUF is mainly through stock market trading
this is not for salaried people
Simple yet so confusing for the novice😆
What is calculation if I use the product for five years fully depreciated and don't sell it and tax implications
does Apple product depreciate in this rapid rate?
I purchased a laptop of 62,990/- in Nov 21, so in the bill laptop was showed of 53,381/- and the GST was 9609/- on it. So i got it under my name but used GST number of a friend's business in it. Someone please tell me whats the amount ill be getting in this. When i asked him he said that 9% is SGST and 9% is CGST that means ill be getting 4805/- which is one among em. Help me clear this scenario.
Hello sir mera ek question hain ki
let's say meine laptop use kiya 5 years tak and then
laptop due to some reason break ho gaya or stopped working so usko kaise dikhana chahiye?
and what if before 5 years ho jaaye?
Sir depression 14 days tak ka he hota hai I guess like if we buyer a 1 lakh11 pro max and then iPhone 12 is launched then if there is a drop in price in11 pro max so we can claim the difference of money dropped for 11 pro
Sir if i buy a laptop and claim both ITC and depreciation like you say but I don't sold my laptop for let's say 10 years . So it can be possible ???
Epic video . Sir 💘👌🏻
Credit card discount and gst invoice cannot reveal together by any online platform
Hello sir ek question tha.
bina gst number ke computer invoice de sakte hain customer ko
How does govt know we sold tha laptop?
no ones going to buy 3 year old laptop of 90k at 30k.
Are sir ease to me bhi kah du ki maine 25 lakh ki innova 14-16 lakh me li hy. Mann ligie 25 lakh me kuch GST laga wo bach gya + maine 10 lakh ki maine bech di wo bhi reduce ho gai.
Can I avail the ITC and Depreciation if I purchase the laptop through EMI? Please help.
can we avail the depreciation if I
brought the macbook on EMI ??????
Can anyone or sir you only tell me why we divided 18 with 118????it should be 100 na?
92900 included gst which means if cost would be 100 then gst (18%) would be 18 this invoice value would be 118. Thus if 92900 = 118 then what is 100 = 92900/118*18 = answer.
@@rachitvsatija ohk thanks brother
aisa kuch normal consumer ke liye applicable nahi hai kya
Can you please make video on TDS 194R??
Sir ek question tha...agar hum kuch bhi order karte hai amazone ya Flipkart se gst par toh kya hum usse use ghar ke liye apne kar sakte hai ya nahi...aur kya us product ko survay karne wale aa sakte hai ki ye aap kis purpose se liya hai aur use kaha ho raha ye dekhne ke liye?
what if i dont sell the asset? then would this thing lapse?
Mujhe bhi apki trah video record karna hai kaise kru what devices u r using plz tell I'm a teacher
What if I use the laptop for personal use or give to my wife or son for their personal use?
Very Helpful!
What if I don't sell my laptop?
& what's the depreciation on tablets?