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Animesh
Need advise from a CA on notice under Income Tax 148A
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Dear Animesh,
We need your Scrutiny Notice to understand the case and letter on will be in better position to advise you further. You can reach us on ca.rahuldwivedi@gmail.com or 9004485377
An individual could receive a notice under section 148 in case the assessing officer believes that such an individual's income chargeable to tax might have escaped assessment. For consultancy reach us @www.tarunguptaca.com
CA Naman Maloo 27 Mar 2022You can book consultation at: https://www.taxontips.com/tax-notice-personal-consultation/
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Jishnu
Hi, I have been employed by an Indonesian company since April 2021. While I was supposed to work from Indonesia, pandemic situation meant that I couldn't travel to Indonesia till December 2021. So from April 2021 to Dec 2021, salary after deducting tax in Indonesia was transferred to my Indian Bank account. Am I liable to pay TDS on the salary that I received in Indian Bank account considering the fact that I was paying tax in Indonesia anyways? In case I don't have to pay TDS on it, is there any proof that I have to furnish while I file my returns?
Your ITR will attract DTA provisions, you will need a professional to file your Income Tax return, as Indonesia company has already deduct tax and Indian Income Tax will also demand tax from you, so this is called Double Tax; to avoid such tax there are DTA provisions under Income Tax Act,.
CA Naman Maloo 27 Mar 2022TDS is paid by the company and not the employee. You need to pay tax in India.
Further if you wish to take credit of tax paid in Indonesia you need to get the proof of tax paid in Indonesia and check DTAA between India and Indonesia.
I would recommend to have a phone consultation with expert before taking any decision.
You can book consultation at:https://www.taxontips.com/tax-notice-personal-consultation/
Dear Jishnu,
For Resident India Global income is taxable in India. So the salary received by you will be Taxable. As for as benefit of tax paid in Indonesia is concerned it depends on Double Tax Avoidance Agreement between the Indian & Indonesian government.
For Further consultation you can reach us at ca.rahuldwivedi@gmail.com or 9004485377
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Shatanik Mondal
Hello, i have sold a property on 20th march, and i want to save some tax on my LTCG.. I Have home loan and wanted to partially prepay it but couldn't do it as year end month.. I want to ask what is the time limit for prepay home loan by capital gain for tax exemption? Is it March 31st or last date for IT filing?. TIA
Under Section 54, you are exempt from paying LTCG tax if you buy a new house either 1 year before the sale of the old property or within 2 years of selling it. If you are planning to construct a new house, this should be done within 3 years of sale of the old property. No tax benefit on repayment of home loan from LTCG. For more info reach us @ www.tarunguptaca.com
CA Puja Sharma 28 Mar 2022In Capital Gian, there is no exemption allowed on repayment of youyr existing home loan. Exemption u/s 54 is only allowed if you purchase any house either n 2 years after the sale or 1 year before sale. Further, exemption is also allowed for construction of new house, but the construction should be complete within 3 years.
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Santosh Kumar Yadav
If we export goods or import goods from other country through a transporter, in that case the transporter is levying igst tax on the invoice given to us, is it correct and our supply position and that of the transporter are same then taxed on cgst and sgst But is it correct that he is levying IGST on the transporter invoice?
please give your opinion about this
If the transporter and you have Gst No of same state, then transporters should levy CGST and SGST, even if it is a export or import of goods
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Ravi
Hi,
I am thinking to help one good student (but underprivileged) to study their higher education(B.Tech). I am doing this because many of us have been there.
The Tutuion fee is about 1 lakh rupees per annum. I would like to know if I can get some form of Tax exemption for this amount. I am fine with taking a certain approach if that saves tax.
Thanks in advance..
This is your personal expenditure as per Income tax act and not allowed as Tax exemption. If it would have been in form of Donation to some NGO then Section 80G could have been availed.
CA Puja Sharma 25 Mar 2022No there will not be any tax benefit from this expenditure.
However, if you pay this amount to any NGO which is government-registered and is eligible for 80G donation then you can get the tax relief.
