We are in the process of establishing an affiliate system where we will compensate our affiliates, who could be located anywhere in the world, including India. Our plan is to make most payments in USD via PayPal, but for affiliates based in India, we are considering the option to pay in INR as well.
Could you provide detailed guidance on the following aspects:
Tax Compliance: What are the...
I was an employee till July-22 and from Aug-22 have started Electrical Engineering Consultancy services firm with a sole proprietor. I am expecting my (as an individual) income to cross 20 Lakhs (April to July 4 Months salary and consultancy fees) for FY 22-23. As I understand GST is not mandatory if your turn-over is less than 20 Lakhs. Since, I do not anticipate turnover of my consultancy ser...
Dear associates,
I have a question on tds on house rent. I am operating a business (training institute, total revenue is less than 1.5 lakhs) in Bangalore, Karnataka.
I am paying rent 15000 for the building where I am operating my business. The building owner said that I have to pay 18% tax along with monthly rental, so the total amount is Rs.15000 + Rs.2700. Out of 18%, he asked me to keep 1...
I am a NRI and have bought an under construction apartment for the total cost of around Rs. 51 lakhs from a builder in 2014. I have paid multiple installments since 2014 without deducting TDS. Total amount of installments paid up till now is Rs 48 lakhs. The apartment is almost ready for possession and I am about to make the final payment and want to deduct the TDS now. I have the following que...
i obtained my service tax no on 26/04/2013. it started a courier company and i did ran it for just above one year and due to low response i went abroad for job in nov 2014 and been there till now. now someone told me that i have to surrender my service tax code along with penalty for non filing returns.
my overall turnover was even less than 70,000 for the entire time on my current account.
...
Dear Team,
I wish to start an online portal (in India) wherein service providers and service seekers (collectively "portal users") shall post their needs and the portal shall match the requirements, showing contact details of the interested parties. So basically, I am only providing a platform to connect the actual service provider with service seeker and vice versa; by charging them a nomin...
Hello,
I work as freelance webdeveloper working from Home and I have all my clients outside India.
Basically there are two different types of work I perform:
I use to sell my softwares on Australian Based Digital Marketplace named Envato (www.envato.com). My softwares are listed on Envato Marketplace and customers from all over the world download the application from that marketplace. ...
My father, a former PSU employee, a retired pensioner currently, wants to start domaining (buying and selling domain names).Here are some links regarding domaining for your reference:
Link 1: http://www.sitepronews.com/2014/07/08/beginners-guide-successful-domaining/
Link 2: http://www.dnoai.com/
1) From the initial research that I have done on the internet, it seems that domain name (withou...
I have a private limited company and my turnover is around Rs. 24 L annually. My 80% of this income is derived from websites like elance and odesk, where I bid for projects. Payment received through PayPal, clients pay in USD, PayPal deposits in my bank after converting into Rupees through CitiBank NEFT. In PayPal it shows both these transactions clearly, what client paid in USD and what they t...
Dear team,
Requesting for your guidance here.
I am Non-Resident Indian. I have booked tour with Indian tour company and I have requested for their services outside India.
i.e. I am taking their services in London and leaving their services in Rome without touching the ground of India.
I understand, I am NRI and rendering services of Indian company outside India, in such case I am not ...
I am looking to purchase a apartment in Bangalore, Karnataka on a resale.
There are 3 parties involved here.
The original buyer, lets call this individual A.
Me, the second buyer. Lets call me B.
And the Builder of the apartment. Lets call them C.
The first buyer, A, purchased it in the year 2012 and has got a sale agreement for the same. The entire money has gone to the builder from ...
Sir....I have started working as Life Insurance Agent (LA) with Kotak Mahindra Old Mutual Life Insurance Ltd. since 14th June 2016. Kotak while making the payment of Commission, first Kotak have paid me the Service Tax Component (14+0.5+0.5%) on my Commmission earned with my Commision.The Income Tax @ 5% was deducted over the Gross Commission inclusive of Service Tax component & then Service Ta...
Dear Sir,
I am employed in abroad.
During free times, I tried searching opurtunities giving HR service to companies. I have emailed to many companies asking opurtunities for HR services and I could get many orders also.
Then, I asked my friend india to register a company and get bank account. He registered one company (as he is the sole proprietor) and got TAN no & bank account etc.. I ask...
Hi,
I have a question regarding the laws concerning taxes and regulations regarding processing a payment.
I am the administrator of a platform enabling two sides: the provider willing to provide and the client in need of a service. The provider can set a price for the service in which case we take a certain procentage as a commission for enabling this user to make money through our platform...
Hi,
We (Magus) become partner of a UK Firm (HarePoint). This company develops software and sell it across the world through local partners.
Q1: Taxes : http://taxguru.in/goods-and-service-tax/taxability-software-present-indirect-tax-laws-proposed-gst-examples-india.html
Scroll down to section : Examples explaining comparison between current tax regime and proposed GST: Our scenario is...
I am working as service class and taxpayer. I have my website.
Case 1: its my website and I sell products online
Case 2 : vendors come on my website and they sell their products.
2(a) : I take commission from vendors
2(b) : I do NOT take commission from vendors
Case 3 : I have links on my website and people visit my site and are redirected to the vendor site. There is a possibility that ...
I am director for a Private Limited Company and I also work for a corporate company.
My corporate company has taken car owned by private limited company (Where I myself is director) for me and pays to private limited company on monthly invoices raised.
The invoices raised to the corporate company (where I am working) for monthly lease were without service tax, as per service tax chart i...
USA company that has issued Indian company (payor) their USA Certificate of Tax Residency, did not want to apply for a PAN and be liable for tax returns etc in India (understandable).
USA company is asking for the tax withholding receipts based on the amount Indian company withheld and paid, so USA company can offset the amount they lost or that was withheld from India as a Foreign Tax Credi...
Hello,
Thank you in advance for helping me.
I am an online freelance graphic designer and I have a few Filipino employees. I do freelance designing for candidates from the US and Europe. I have full control over the pricing of the designs. I am a sole proprietor and receive payment of let's say $2000 a month in my paypal account.
Here is what happens after that:
=> Paypal deducts it'...
Issue of classification of service whether work contract or construction of complex service:-
The assessee is engaged in construction of a complex having common area, parking space, swimming pool, airconditioned gym, community hall, separate lounge for staff at stilt level, garden, park and common elevators intended for sale to prospective buyers. The assessee has entered into agreement with ...