Hi
I am selling knowledge videos online which i get these made from my husband. Assume my income from sale (Turnover) for FY 2015-16 is 4 Lac & for FY 2016-17 is 6 Lac which directly comes into my joint bank Account (my & My husbands JBA) .(I have no other income).
Can i File a return (ITR4S) under section 44AD (as Presumptive Income) Can i show 8% of T/O as my income (without having to ma...
I have a continuous employemnt for more than 5years as per my UAN . Hence in my current company i applied for the PD transfer from my previous organisation and the same was approved and submitted to EPFO portal in Nov-2016.Later the PF website went down and i couldn't check my transfer status.
In the mean time i resigned from my current organisation and applied for PF withdrawal. I expected as...
Hello Folks,
I am in a very serious confusion regarding multiple things, So I'd try to elaborate as much as possible:
I have three major sources of income:
1. full-time job in a company (monthly salary)
2. part-time freelancing (inflow on regular basis)
3. part-time from another company (monthly salary)
From #1, I make around 1.5L per month
From #2, I make around 1.2L per month (on...
Sir / Ma'am,
kindly help me to understand the following.
i want to publish a puzzle book [authored by myself] and sell it to the end user directly [by myself].
the expected turn over is hardly 5 lakhs per annum which is not applicable in GST.
1, for starting as small proprietorship firm, which are the registrations i need to take?
2. is commercial space mandatory for this business OR can i...
Fact }my mother had two Plots. Plot A purchased in aug,2012 for 534500 and Plot B purchased in dec,2012 for 577800. She sold the plot A for 14 lac in Dec,2016 & sold Plot B for 7.25 lac in Jan,2017. further a new residential house was purchased for 16.5 lac in march 2017 & amount of rs 220000 is invested in NHAI bond in march 2017. we do not have any other residential house other than newly pur...
Hi,
I worked as a professional/consultant in government sector for 10 months in the last financial year, which didn't included any allowances like HRA and others, but only consilidated salary/professional fee.
Now I want to claim deduction for
1. House rent, which is 81000/-;
2. medical allowance, which is 15000/-;
3. Vehicle Maitainance which is 60000/-;
4. Conveyance/transpor...
I have a unique scenario to deal with, please advice. (Incidents in financial year 2016-2017).
- Mr. X resigned the job from ABC company and joined XYZ company
- XYZ company had an option to no to opt for PF, so Mr. X decided to maintain his own PPF, thus applied for a PF withdrawal
- PF withdrawal processed successfully, He received an amount of INR 2,70,000 (Three Lakhs) after deducting t...
sir, I am in coal transport business. My monthly profit is around 80000 and t i have emi of 26000 for my truck. sir let me tell you my business scenario i buy coal from company about 70k-80k for about 20 ton coal. Then i sell it to the bricks plant at the same amount i purchased and i got only fare about Rs 1300 per ton i.e 1300*20=26000. I spend 11000 for diesel and toll tax, driver xpenditure...
I have couple of questions around income from house property (w.e.f changes from 2017) and need your valuable advise.
Here is my question :
I have two flats on my name, For the 1st one home loan is closed and which is self-occupied where I am staying with my spouse and parents. 2nd flat is on rent for which SBI Maxgain home loan is going on. Since last year I am unable to take the tax benef...
I got a notice giving me 5 days to furnish information of equity transaction of 5 Crores in 2013-2014 the notice is received in 2017-2018 financial year. On seeing my details I saw intraday trading with Axis direct and my intraday turnover for that year was total of 3 lakhs only of ledger statement and under Indian laws my trunover was 3 lakhs or less and my loss was 23029/- rupees for the enti...
Hi,
I have been living in UAE since 2013 and now going back to India permanently in Jun 2017. I have seen many threads regarding how the residency status can be calculated and I know that I would be resident indian after going back.
My question which is unanswered in almost all the websites is how to calculate the taxable income. Let us say I earned 60000 AED as my salary (From April 2017...
I am inheriting a property from my grand father around 10000 sq ft. The cost of that property will be 4 crores rupees. I want to sell that property, how can i save taxes.
According to my calculation using CII, the capital gain would be around 3 crores.
As far as i have read I can save taxes by investing in specific bonds and can buy only a single property. So if i buy some property for 1 ...
Hello,
I have been in the states since 2008 on J1 visa. For the first 4 years I did not pay any taxes as I was on a scholarship from my home country. Then, I started to receive money from the US and pay taxes. I was always considered as a resident alien for tax purposes.
Note: I also visited the US from December 2007 to March 2008 on J1 visa and I was sponsored by my home country, so no t...
I have no idea till date about how income tax are calculated, and what to do to save them. I know its embarrassing. I have lost lot of money due to this. Can someone guide me on what my taxable income is, how much should I invest in tax saving instruments, what bills are needed to be produced for monthly reimbursements, etc etc. I would really appreciate it. Below are the income details. My CTC...
Team,
Could you please help me clarifying my query on salary income earned in Switzerland is taxable in India ?
Below are the points referring to above.
1. Stayed in Switzerland on deputation model for 80 days in previous fiscal year.
2. My employer is registered in India & Switzerland both and it's origin is US.
3. I have payed 11.50% tax to Switzerland government on my salary income.
...
Hello Sir,
I am an NRI doing job in Saudi Arabia since 2014. Before moving to Saudi, I was having Mutual Fund investments through one of the online platforms in India through my Indian Salary Account.
After I started getting my salary in my overseas job I just continued to invest in Mutual Funds same way through my old Resident Ordinary account as before. I did this because it was not poss...
I am a Salary Tax payer. I invested in HDFC' s Insurance Policy @25000/- p.a., for 5 years commencing from March 2012 to march 2016. my total contribution is Rs.125000/- and the total maturity amount received is Rs.132517.68 which includes my contribution of Rs.125000/-. now they have deducted TDS @1% on total maturity amount to the extent of Rs.1325/- and paid the balance amount. Now the form ...
Hello sir Actually I have Opened online Pension account with Atal pension yojana through SBI Netbanking six month ago when i was in business and now i am state govt employee and today i got message and Email like this could you please help me undertsand whats it for and what should i do now ?
Subject: Self-certification of Permanent Retirement Account Number (PRAN) under National Pension Sy...
Dear Sir,
Good Evening. Thanks in advance.
I have 2 queries.
1) I have filed my income tax returns up to financial year 2012-13. I have received scrutiny for the F.Year 2011-12, and subsequently it was replied and got order too. Now the audit committee asked some queries for the same year. After issued assessment order is it possible to raise a query for the closed file.
2) From the...
Hi,
i have withdrawn my epf & eps money in fy 2016-17 (exactly july-2016 to be precise).
in fy 2016-17 i do not have any other income apart from epf and eps (since i didn't joined any other company after feb-2016).
my epf came with 10% tds since i withdrawn my epf before 5 years (4.8 years to be precise).
after referring to many documents i got somewhat confused so i request the ass...