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Shivam Tomar
Suppose my business made 10 lakh rupees of profit, then I bought computers worth 10 Lakh, since pc components are assets and I can't deduct them from taxable amount like expenses, will I have to pay tax on 10 lakh rupees?
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On purchase of Fixed Assets like computer you can claim depreciation and after deducting depreciation on balance amount you have to pay tax.
For Further discussion & planing purpose you can reach me on ca.rahuldwivedi@gmail.com or 9004485377
claim depreciation, and pay tax on balance
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Pankaj
I am an NRI working in the US, and planning to move back to India to work remotely for the same US company. My company does not have any office in India, I will be working as a contractor for them, and they will not be deducting any TDS. Will that cause any legal issues, assuming I pay a self assessment tax while filing my ITR return in India next year?
Hi,
There won't be any legal issues here in your case. Just remember to pay advance tax so that you're not paying interest on your tax liability while paying self assessment tax at the time of filing the ITR.
For more clarification, please feel free to contact us at camehulagg@gmail.com or 9811896771.
Hi Pankaj,
There won't be any issue , you can do so. however remember 2 things in mind :
1) Pay advance tax timely to avoid Inetererst.
2) You have to apply for GST No & file GST returns irrespective of turnover.
For Further Assistance you can reach me at ca.rahuldwivedi@gmail.com or 9004485377
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Chakravarthi
Trading in olymp trade platform is legal or not .If legal how can pay tax for income earned from olymp trade and under which section.
There should not be any issue in doing trading at Olymp Trade Platform unless and until all the regulatory compliances have been done. For more information kindly connect with us at deepakkucheria@gmail.com or +91-9911744028
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Muhammed Deshmukh
I have been working for the last 5 years but never filed Income Tax return. If I file this year can I get refund for TDS deducted from my salary 4-5 years ago?
You can not claim refund for previous years, only for the current year.
CA Rahul Dwivedi 21 Sep 2021Now the provision of IT Act has been amended and belated returns can't be filled . You can file ITR for FY 2020-21 only .
For further clarification you can reach me ca.rahuldwivedi@gmail.com or 9004485377
You can file ITR for FY 2020-21 only . and can only claim tds/refund of FY 2020-21 only.
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Vivek Kumar Singh
I joined my job in october 2020. But i started receiving my salary from april 2021. Salary from Oct 2020 to feb 2021 was received as arrear in may 2021 on which 5% tax was deducted. How income tax will be calculated ? How 10e form can work and do i have to file currently ongoing itr of AY 2021-22
Calculation has to be done in accordance with relief measure provided under Section 89(1) which shall require tax calclulation for both year (Year to which salary relates) & Year in which salary is received, hence book a consultation with Finaco admin by sending an mail at admin@finaco.in and complete calculation detailed CA call can be provided
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