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Manu Ahuja
If my net income is zero but if i receive interest do i need to pay tax on it?
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An individual is obligated to file an ITR if his gross taxable income( including interest) during a particular FY exceeds the maximum amount not chargeable to tax i.e Rs 250000/-
For more detail connect me @ www.tarunguptaca.com or 9216216819
Interest income is also taxable if greater than basic exemption limit.
For professional help contact cadeepikajagan@gmail.com
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Dileep Kumar Dora
I've e-verfied after 120 days, now the status showing as Condonation request is submitted for approval, in general, how many days it will take to approve/reject the request if rejected what are further steps to do.
Your condonation request is forwarded for approval. This return will be invalid till approved”. Hence, in case the assessing officer reject the condonation request, return will be treated as invalid. Since the earlier return as been invalidated, it is advised to file the revised return. For more detail connect me @ www.tarunguptaca.com or 9216216819
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Vinayak
Hello. I am software consultant. In the Financial Year 2021-22, I earned Rs 33 lakhs working for a US based company and got paid via wire transfer. I also earned Rs 16 Lakhs working for an Indian company. But due to ignorance, I did not register for GST last year. What can I do to rectify this ? Please help.
You will need to register with GST as first action and then you need to mention the commencement date in registration. You wil get 20 lakhs as exemption, the amount above 20 lakhs you will have to pay GST.
T&C applyM
Manu Ahuja
Hello, in crypto if i make 1000rs profit and 1000rs loss in the same financial year do i have to pay tax because the net earning here is 0 for the financial year.
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Kiran Shendge
Hi,
I have 18 LPA fixed income but I want to reduce a Tax Deduction of every month. Can you please suggest me some investments
You can connect with me at ca.pujasharma@outlook.com for consultation related to Income Tax planning.
CA Roomi Gupta 11 May 2022There are multiple provisions by which you can lower your taxable income. For example, under section 80C you can save Rs 1.5 lakhs annually. 80C investments include FD, Equity Linked Savings Scheme, Insurance policies, etc. Also, there are a bunch of other deductions under Section 80 such as 80D, 80E, 80GG, 80U etc.
For more details about Tax Planning connect me @ www.tarunguptaca.com or 9216216819
