R
Rini Sinha
I work for a UK company. How should i file my taxes in India?
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Is it a permanent thing or a temporary thing because of COVID?
Any which ways you need to show it as salary income in India but be aware that that could create an issue for your company also.
You can have a consultation to discuss on how you can save tax on same.
To book consultation with expert click here: https://www.taxontips.com/tax-notice-personal-consultation/
If you are working remotely from India and receiving your consideration in India then you will be liable to pay tax on this income in India.
For more details, you can connect with us at ca.pujasharma@outlook.com
A
Anuj Tomar
Can i buy a tractor on loan to save tax?
Please share more details about your query. Even if you buy a tractor from your funds, you will get depreciation on the tractor which can help in saving taxes.
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Ujwal
I did not declare my FBP, now how do I know my HRA as it will not be shown in salary slip and how do I claim exemption while filing ITR under section 10 or 80
Sorry didn't understand your question, but you can book consultation with expert to get an opinion.
Click here: https://www.taxontips.com/tax-notice-personal-consultation/
S
Shrey
I will be working on contract remotely as software engineer in a foreign country
Annual income will be greater than 30L .
Do i need a gst registration since it is export of service
Can i work with them without sending invoices to them ?
All exports will be deemed as inter-State supplies. Exports of goods and services will be treated as zero rated supplies. The exporter has the option either to export under bond/Letter of Undertaking without payment of tax and claim refund of ITC or pay IGST by utilizing ITC or in cash at the time of export and claim refund of IGST paid. For more detail reach to us @ www.tarunguptaca.com.
CA Hunny Badlani 12 Mar 2022Hello,
Yes, if your gross receipts crosses Rs. 20 Lakhs threshold limit, you would be required to take GST registration and make compliances.
Further, To qualify as export under GST regulations, the payment for such services should be received in convertible foreign currency. If this holds true for your case, you can supply such services under LUT without payment of GST. But regular return filing compliances would be required.
I hope that this answer satisfies your requirements. For any query, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
Yes you need to get GST registration since your total receipt would be more than 20 lakh in a year.
You should send them invoices to be legally compliant.
If you need any assistance you can book consultation with experts at: https://www.taxontips.com/tax-notice-personal-consultation/
M
Md Jahidul Islam
Hello Sir/Madam
I'm a freelancer in Upwork and besides it I am a contractual employee of West Bengal Govt. I earn 3 laks per annum from my job and I've earned near about 38 lacs in this financial yr from Upwork.
I also have a few employees who work with me and I gave them total of 10 lakhs in this financial yr.
I also have an PPF account where I submitted 1.5 laks. I don't have any other investments or medical insurance.
I've heard that Freelancer can show 50% profit. Is it true? If yes then how much I have to pay for this financial year? Please let me know if there is any way to save my tax.
I can take your service if you want to help me.
Thank you
Hi,
Professionals can file their ITR with income showing u/s 44ADA in which they are eligible to show 50% profit out of their revenue. Further, there are two mechanisms for filing the returns: (i) Claim deductions such as LIC, PPF, Mediclaims with higher slab rates or (ii) No deductions with lower slab rates. So we need to do the comparative analysis to determine which option would be more beneficial for you in saving taxes. For more information and assistance, kindly connect with us at +91-9911744028 or deepakkucheria@gmail.com.
Thanks.
Hello,
Yes, specified professionals under Sec. 44ADA are eligible and can declare a minimum 50% of their gross receipts as taxable income from their profession.
You need to check whether you are a specified professional under Sec. 44ADA, or else you can use Sec. 44AD.
For further tax estimation or consultation, you can contact us directly.
I hope that this answer satisfies your requirements. For any query, please feel free to contact us at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Badlani & Associates
https://goo.gl/maps/CHA32shfXavRgdLr5
You can check out here about taxability of working as a freelancer: https://www.taxontips.com/is-it-beneficial-to-work-as-an-employee-in-a-company-or-to-work-as-freelancer-taxability-when-working-as-a-freelancer/
If you need any assistance you can book consultation with expert.
Yes, professionals can show a minimum of 50% profits and file their taxes. For more detailed discussion you can connect with me at ca.pujasharma@outlook.com
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