M
Madhur Kapila
How to avoid salary TDS, if your annual package is below from 3 lac
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Employer will not deduct TDS on it. If he is deducting TDS over it then you can ask him not to deduct as no need of as per Income Tax Act. you can advice him to refer tax provision OR can have expert legal opinion over
There is no need of deduction of TDS if gross salary is Rs.3 lacs p.a.
CA Naman Maloo 20 Jun 2021There is no TDS for salary below 5 lakh.
T&C applyA
Akash
Im a student. My brother works in USA. He had sent ₹ 7 Lakhs in my bank account during 1 year. Will I be liable for taxation according to Indian Law.
In case this has been sent for family maintenance in India, this will not be taxable in your hand.
CA Madhur Gupta 19 Jun 2021no tax impact
CA Rahul Dwivedi 21 Jun 2021Not taxable
T&C applyV
Vinitha
My doubt is that we was generated a service invoice to a client abroad , we already took LUT. So issue invoice with 0% igst. The client remit payment through a payment app. But they payment was hit to bank in INR. We already file gstr 1 return as export services including the former invoice. But while gstr 3b we are requested to pay igst of the same invoice@18%( because the payment received in the form INR). Client is outside india so they are not agreed to pay the gst portion. So we decided to pay the gst portion on the behalf of client.
Normally the entry for service is
Account receivable a/c dr
To output igst
To service income
Payment of igst
Output gst dr
To bank
I want to know the journal entry when the igst payment in case of services to the foreign client ( who makes pyment in INR) ,& we pay the gst instead of them.
Hi,
Your entry in this case would be as:
Account receivable A/c Dr
Sales Expense A/c Dr
To output IGST.....
To service income...
Please note that in your query, you have agreed to bear the GST liability, which would be a business expenditure, hence the same can be charged to PL.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
Have you consulted regarding this with your CA before offering GST on same?
You may book consultation online with expert for same to understand whether GST needs to be paid or not.
https://www.taxontips.com/tax-notice-personal-consultation/
G
Gautam Singh
Got a mail: The gross receipts/income, on which tax has been deducted, are to be entered in the schedules under the respective heads of income, as they are assessable in the year in which the credit for the TDS is being claimed.
Yes. These types of error happens at time of filingof ITR. You should always check 26AS and section under which TDS is deducted so as to put corresponding income in that head.
If you have TDS from various sources then always preferable to get assistance from tax expert to file ITR
I need to check your Form 26AS and ITR to comment on the same.
You can book consultation with an expert here to get an advice over phone: https://www.taxontips.com/tax-notice-personal-consultation/
A
Amit Chawla
In ITR4, should I declare all my saving account's balance even when I already configured them in portal?
In ITR4, Can I declare income at 20% even when my income is actually 75% (suppose) ? Please advise
Can department raise dispute even after processing ITR successfully.
Your question is not very clear as to what is your income, nature of your income etc.
I would request you to book consultation and discuss the same over phone call.
https://www.taxontips.com/tax-notice-personal-consultation/
