u/Adorable-Run-8184

Sorry if this appears as a repetitive question. I could not find a direct answer to my questions and hence this post. Most posts go about opening a current account, LUT, 44ADA etc.

I am an individual offering a monthly subscription based software solution to a customer in the US.

I do not have any entity setup here in India (yet). I just have my PAN.

I am assuming that I can just email them the invoice on a monthly basis and ask them to wire transfer the amount to my given savings bank account with ICICI or HDFC (through Wise or Swift etc - depending on the customer).

I do not have any income at the moment. So, this will be my only income, which will be less than 12L per year.

Questions

1. Is it OK to just email the invoice and collect the money into my bank account as described above?

2. I will declare this amount as my total income. My income will be less than 12L and hence my ITR1 will have no tax. Is this correct?

3. I want to avoid setting up a company, gst registration etc at this point in time (atleast until I see some future prospects of stable and increasing income). Can I continue with my income declaration with ITR1? (don't want to go into 44ADA etc upfront now).

4. Anything else thst I should be aware of? From my perspective and from my customer's perspective?

Dear Tax Experts,

I am buying a home with a home loan and seeking advise on below questions -

1. Can I use SWP on mutual funds (equity, debt) or individual stocks which are long term to part prepay on a monthly basis to get tax exemption on capital gains?
2. For how long in years can I do SWP to get capital exemption
3. Is it applicable in new regime?
4. I plan to continue SIP in these funds as well

Thanks

Hey, I Applied for PAN card name correction through UTI and sent the courier for physical verification to Chennai office.
Now the status is showing as "withheld for processing"

Is this a normal procedure or is there any mistake that i've made in the application which lead to this. I tried calling the UTI office but they are not responding. kindly let me know what are my options here.
Thanks in advance

https://preview.redd.it/a31iskip3azg1.png?width=612&format=png&auto=webp&s=319aff2e51d2ff3ab7e78ae526a79330df46ba8f

Premature Withdrawal on Tax Saver FD & PPF

Hi,

I have a Tax Saver FD of Rs. 1 Lakh with IDFC Bank since 2023 but it has a 5 year lock in period, My ICICI Bank PPF also has 1.41 Lakh and the PPF Account was open3d first in Nov 2021, I had invested these to save on taxes but I recently went through a lot in my business and im almost bankrupt, These Tax saving investements are now worthless to me as I dont even have any taxable income. I tried breaking these prematurely but my branch doesnt know anything about these. Please find me a way to get these closed as I really need the money.