S
Shani
How can i utilize standard deduction limit of 40K for fin. year 2018-19?
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utilize of standard deduction is not required any think
SD of Rs. 40,000/- is automatically calculated and accounted for by the employer before deducting TDS. No further action is generally required by the employee.
T&C applyM
M. Shikha
I am a doctor, i earn 2 laks per month on a contract basis for one year. Can i fill ITR form 4 , show myself as professional, and pay taxes on half of annual income as per scheme of presumptive taxation under section 44ADA
Yes. You can do that.
M. Shikha 11 Feb 2019Thanks.. Is there any other way to save my income tax?
CA Urvi Gandhi 12 Feb 2019Hi Shikha, You can reach me at urvi@fintaxconsulting.in/9967694668
CA Abhishek jha 12 Feb 2019you may go for 44ADA. yes there is way to save income tax by making investment
M. Shikha 13 Feb 2019Thanks
CA Ankit Chaudhary 15 Feb 2019Dear Shikha Ma'am, You can definitely opt for 44ADA in this case. Please remember that the profit is not 50%. "It's 50% or more". Suppose your receipts is Rs. 100/- and your investment in that year is Rs. 70/-. Then you should show your profit u/s 44ADA as 70% and not 50%.
http://taxscoop.in/entries/income-tax/section-44ada-%E2%80%93-presumptive-taxation-scheme-for-professionals
P
Pavan G
Sir , am using credit card but I am unemployed..I use card for all expenses ..I used my card to book flight for my relative .. I spent almost 20 lakhs last financial year ..I have never made cash payment for credit card..will I get IT notice ?
A
Ayush Agrawal
Which taxes do I need to pay if I am doing drop shipping business? I am a resident of India.
GST & income tax subject to condition
for more details 9708549709
D
Dhruv Singla
We are purchasing raw materials for Rs. 80,00,000 out of which Rs. 50,00,000 were bought at the tax rate of 5% and rest Rs. 30,00,000 for 18% GST.Now, we process the goods and convert them into finished goods which is under the category of 5% GST. The IGST paid at the time of export is being refunded by the Custom .Now, the question is that , from whom the exporter will be getting the excess amount of tax.
And , how the exporter can get the same and from which department either CUSTOM or GST Department.
You have to apply for refund of input tax credit. the application will be made to the GST department.
We can help with the filing of the application. Contact on 9719144360
