Working as a Consultant for Foreign Company and Salary credited to my account.

Do i need to pay tax?

1) For entering details in Sch AL - under sub heading Gold Jewellery - how do you sub-divide between your wife and your self. My wife files tax separately. She has inherited jewellery from her mother and mother-in-law , I have bought some Gold Jewellery for her over the years and she has received some as wedding gift. I have bought jewellery as gift for others - like my daughter and relatives on wedding occasions in the past year. What do I show in my tax filing under this sub-heading heading under Sch AL?

2) In Sch AL : Bank Balances and Cash at Hand - are these to be shown as of 31-March balances ?

While uploading the ITR online after validation with no error, I'm getting an error message stating "schema error occurred while submitting your form, try later". This has been happening for the last 2 days and I'm using the latest version of Desktop Utility. Can someone please help to sort out the issue?

Hello sir,
I have query Income tax s related, I have deposited Rs 21lakh cheque..
and have insurance in SBI BANK.
what liability i face at the time of filing income tax.... and what are the effect on GST.

Hi all,
I am filling ITR 1, while uploading it is showing the above message " schema error found".. can you please help. I have also paid self assessment tax which is still not showing in 26As.. is it the reason.

1) What are the consequences' and which return shall be considered as valid return?
2) What if intimation u/s 143(1) consider the return under old regime and moreover not considering the deduction under old regime( such as 80c, std. deduction from salary)

Hi,
I plan to start a Real Estate LLP firm.
Primary aim is to buy and hold Commercial real estate for rental and capital appreciatoin.
If I am able to put the entire rental income back into real-estate, will I have to pay any taxes
e.g. if my rental income is 15lacs and I buy fractional CRE from strat-prop for the same amount, will there be a tax outgo?
If I sell a property bought under the name of the LLP, and have gain in it, and if that money too is ploughed back into buying real-estate, what would be tax outgo?
Regards,
#Valmick

Sir

One of my friend is about to file ITR for FY 21 - 22. On downloading the Form 26AS, he found that the TDS deducted from his commission payments by one of his principle, has been shown under Section 194I(b) - Rent on other than Plant and Machinery, instead of section 194H. My friend does not own a house.
The auto populated ITR form is showing the said amount as Income from house property.
Shall we make it as "Zero" under the head "Income from house property " and add that amount
with commission income ?

Pls. advice.

what is withholding Tax , What is form use to pay withholding Tax and what is due date to pay withholding Tax.

A company is situated in India and does not have a permanent establishment in the country of Kuwait. The Indian company is doing IT based service at Kuwait. For that work, Indian co engaged a company based in Kuwait. The work at Kuwait is done by the employees of the Kuwait company on behalf of the Indian Company. The Indian company pays an adhoc amount to the Kuwait company monthly. Whether withholding tax is applicable? Whether Form 15CB is to be issued?