M
Monu
In ITR page it’s not mentioned clearly i.e. relevant previous year but whether financial or assessment?
Query is what is the criteria for calculating senior citizen age
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Its Assessment Year. You will check the senior citizen status as on the end date of the Financial Year.
T&C applyR
Rohit Vijjapu
I have an engagement offer as a consultant for 4 months. They have offered 2,00,000 per month for 48 hours/ week
1. What would be tax per month?
2. How can I raise an invoice after each month?
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
CA Puja Sharma 17 Dec 2020Your 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
S
Sampath
Hi.
I have a doubt regarding my gross qnual income. ii am an emplyee working with a private company. if annual gross salary is 750000. and i have profits from shrt tem capital gains 100000 and losses in intra day shares -16000 and losses from business/ options trading is - 145000 then what will be my gross annual income??
Your gross income will be 7.5 Lakh+(1 Lakh-1.45 Lakh) = 7.50 Lakhs. Speculative loss of Rs. 16000 will be carried forward along with business loss of Rs. 45000. For Income Tax filing you can connect with us ca.pujasharma@outlook.com or +91 94615 28592
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Madhusudhan Shetty
Is capital gains applicable for sale of agricultural land in karnataka? (Dalimba village, Sathanur Hobli, Kanakapura Taluk, Ramanagara District, KARNATAKA) Purchased in 2012 for 4 Lakhs...selling at 8-10 Lakhs
Agricultural land is not a capital asset if it satisfies the conditions. agricultural land in India, not being land situate—
(a) in any area which is comprised within the jurisdiction of a municipality (whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name) or a cantonment board and which has a population of not less than ten thousand; or
(b) in any area within the distance, measured aerially,—
(I) not being more than two kilometres, from the local limits of any municipality or cantonment board referred to in item (a) and which has a population of more than ten thousand but not exceeding one lakh; or
(II) not being more than six kilometres, from the local limits of any municipality or cantonment board referred to in item (a) and which has a population of more than one lakh but not exceeding ten lakh; or
(III) not being more than eight kilometres, from the local limits of any municipality or cantonment board referred to in item (a) and which has a population of more than ten lakh.
Explanation.—For the purposes of this sub-clause, "population" means the population according to the last preceding census of which the relevant figures have been published before the first day of the previous year;
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Thrishala
I've resigned from the current company and is eligible for gratuity. I recently got promoted which is effective from 1 Dec. My last working day is on 27dec and I'll get delayed salary due to final settlements. In gratuity form am asked to mention last drawn basic salary, I'll be losing 20k if I mention my nov basic. Is there any way to provide new basic and any in how many days post my last working day can I submit the gratuity form
