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S
Srinjoy Das
Dear Sir/ Madam,
I am an architect with a Master in Construction Management degree. Recently I got a job in an Australian firm located in Sydney and they have employed me as a BIM Engineer. However, on paper, they have appointed me as an "international self-sufficient contractor" as they cannot directly show me as their employee since I am not an Australian citizen. My salary is 6 lacs per annum. They have asked me to send them an invoice at the end of every month against which they will pay me my salary. The same amount needs to be quoted every month in a bill. I need advice on my tax returns and whether it is necessary for me to set up a business unit.
Hi,
Since this is essentially an export of service, there will be GST implications and accordingly, you will need to apply for the same. Your residential address can be used as your professional address, so no need to set up a separate business unit.
For your ITRs, you will need to disclose the same as professional income under the head "Income from Business and Profession".
For more information, please feel free to contact us at camehul@jmkp.in or call at +91-9811896771
Please call me at 9007576685
CA Naman Maloo 17 Oct 2021You can have a phone consultation with tax experts to ask any query related to invoice or income tax return: https://www.taxontips.com/tax-notice-personal-consultation/
T&C applyS
Saket Diwakar
I have bought a home from a builder. I am looking for help with the TDS deduction and filing.
Please contact me at 9007576685
CA Naman Maloo 17 Oct 2021You can book a consultation with tax experts who will help you with implication of TDS and give answer related to your TDS query and filing of TDS return.
To book CLICK HERE: https://www.taxontips.com/tax-notice-personal-consultation/
M
Mahitha Ck
Hello,
We have taken a place for rent of 35000 for a cafe and the owner is insisting not to deduct TDS now as the limit will be raised from June. When that happens we won't have to pay any TDS. So he doesn't want to haggle with the government by paying now and reclaiming it later. But he's saying if that rule doesn't change and the current rule continues, we can pay at a shot the said TDS + interest.
Wanted to know if that's okay and would it affect us in any way?
Is it possible to pay TDS after 3 months with the interest?
We are starting as a unregistered partnership so, for the accounts to get audited is there any turnover limit for our business?
Hi, Yes you can pay the TDS for three months at one go with interest and there is no impact on you. Try not to pay later than 7'th July as a return needs to filed for the quarter, which may make it a little more complex.
The turnover limit for Tax Audit is 1 crore but if you fall under section 44 AD for presumptive taxation the limit is 2 crore
Hi
I suggest you should deduct tax immediately and not wait till June
Limit for tax audit is RS 2 cr, but if u wanna claim profit less than 8% then u need to get your books audited even if turnover is less than 2 cr
M
Manoj Arveti
Hi i am an newly join IT employee and want to do my IT returns what are the documents needed for it.
You need a Form 16 from your employer
CA Arvind Khemka 19 Jun 2017Hi
You need form 16 and bank statement. That should be sufficient e
R
Ritesh Gupta
Bought a property in company now selling it to an individual.. How to save tax?
Assuming it is Long Term Capital Gain:
There are two sections for claiming exemptions under Section 54 and Section 54F
(1)Exemption under Section 54 is available on long-term Capital Gain on sale of a House Property.
(2)Exemption under Section 54F is available on long-term Capital Gain on sale of any asset other than a House Property.
There are certain requirements to be fulfilled for both the sections
as i said i have bought it under the company and i am treating it as stock and depreciating its value every year so i dont think so LTCG will come under existence
CA Rahul Khatuwala 16 Jan 2017Then it will be your business profit, You can claim expenses directly related to the property, Not sure of any way to save tax on business profits
CA Arvind Khemka 15 Feb 2017if the company does not have any other asset and you are not in need of this company anymore, you can sell out the company itself. The property will automatically be transferred
CA Arvind Khemka 15 Feb 2017if the company does not have any other asset and you are not in need of this company anymore, you can sell out the company itself. The property will automatically be transferred
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