Hi, It is a loan taken by you and not earnings hence it can't be added in income. However you should keep the necessary loan documents like sanction letter, loan agreement with you so that you can prove this if any inquiry or question is raised by the Income Tax department.

Secondly if you are a salaried person, there is no need to declare this in your ITR. If you are having business, you can show this as a loan in your financials if the purpose of the loan is for business

No, this will not be treated as a loan. If you receive any query then you have to give the explanation that the amount received is a loan.

What is the amount of interest earned on savings account?

You can book a consultation to help you in better way: https://www.taxontips.com/tax-notice-personal-consultation/

Tax will depend upon the net income you earn. Please connect on 7045760379 on Monday for further discussion

Hi, need to know what is the interest in savings account which you have missed. You can file revised return before 31st December 2020. Please call on 7045760379 for further guidance

Please connect on +91 9830375894/ canavinjain1@gmail.com

Hi Sir, you can connect on 7045760379. Will be able to guide you on this since I am working as a consultant with a couple of companies

Your taxation will depend upon the total income earned by you in the Financial Year. If the client will be paying you as a professional then they will deduct TDS u/s 194J @ 7.5%(till 31.03.2021) and apy teh rest amount to you.
If the client is paying you as a salary then the TDS will depend upon the slab rate applicable upon you. For tax planning you can connect with us ca.pujasharma@outlook.com or +91 94615 28592

Hi, For availing tax benefit both conditions should be fulfilled i.e. 1. Loan repayment from your income 2. Property ownership in your name. Since the property is registered in name of your mother, you cannot avail tax benefit. Please connect on 7045760379 for further queries

Hi, if the freelancer is GST registered, he/she may charge you GST over and above the fees. Please connect on 7045760379 for further discussion

As per my opinion, TDS shall be deducted on the foreign remittance to be made if its increases the threshold limit.

Technically you must pay GST on reverse charge. Also TDS u/s 195 depending who is issuing you invoice.
If you need any further assistance you can book consultation with expert at: https://www.taxontips.com/tax-notice-personal-consultation/

Hi, you can claim only Rs. 4000 and you should be able to prove this amount paid

No you can claim only Rs. 4000

Hi Yogesh, please call on 7045760379. May be a hoax message

Hi Prasann, it will be 30%

Hey prasann,

Tax slab would be applicable in general way like your income i.e 30% and not 10%.

Kindly contact us at castutishah@gmail.com or 9825330911 for any professional advise

yes tax needs to be paid at slab rate. 10% is the TDS rate.