Is it fair to club the Gross overseas Salary of a person in India WITHOUT considering deductions, expenses or allowances of the foreign jurisdiction?
Amitabh gets a full-time employment offer in Hong Kong via employer letter dated 23 Sep 2016 but due to delays in official procedures in his employer's office, he departs from India on 9 Nov 2016, thus staying in India for more than 182 days
His Gross Income in Hong Kong from Nov 2016 to Mar 2017 is approx Rs 45 lacs. However, after deductions and allowances in Hong Kong, the taxable income is Only Rs 5000 approximately.
The tax on gross income of Rs 45 lacs in India will be approx Rs 15 lacs much more than his net or taxable income. Hence it seems that the law is outdated to include only Gross income for clubbing purposes of staying in India by few days.
Is there any provision which allows exemption to Amitabh to not report this gross income in full or part?
Was it mandatory to disclose overseas bank account in 2016-17?
i want to know that iam registered under gst and i supply my motor vehicle to department of railway on monthly basis with driver and fuel. what are the tax consequences of this transaction. rate of tax? is this supply is under reverse charge? further if i supply a motor vehicle which was used to carry passenger and goods also like bolero camper, tataxenon, etc does any change in tax treatment of the above case? please reply
Dear Expert,
We have some funds in our cash ledger (GST), now we want to file a refund application, we want to know what documents are needed for this. which have to be deposited.
Is TDS applicable on interest on capital to partners in LLP? I feel it's not applicable in partnership firm but can someone confirm about LLP?
Respected Experts
Kindly let me know Dividend income is taxable or not ?
I got dividend Rs. 56,500/- from different company. I have to pay tax on the same ?
Dear Sir,
i want to ask you can any Accountant making the document of Board resolution & Board Meeting & AGM & EGM documents by independtly for pvt ltd company and public limited company? does accountant required should any aprroval certification services from CA or CS or CMA ?
Please elaborate which types of document done by the accountant independly during the working in pvt ltd company?
Dear Expert,
I just want to file income tax for the financial year 2020-2021, taxable income is less than 5 lakh rupees, so how can file income tax return, will I have to file through json only or can file online also.
I wanted to cancel my GST no. but my GST No shows to be suspended on Portal (Suo moto suspension by Department). Do I have to apply for cancellation separately or Suspended GST no means GST No is Cancelled and no further action is required from my side?
Sir, we have taken an amount of 10,000/- as a cash loan from a person, which has been utilized to pay an outstanding of a firm. Now, we have paid back 10000/- as a cash to that person post collection from members. Now, How should we enter these multiple cash entries in a balance sheet ? Like, Unsecured cash loan, payment to other party, repayment of cash loan. Thnaks
Partnership firm acquire loan from bank for construction of building . Partners of the firm getting rental income from the building and the same is paid to bank as EMI for the loan borrowed by the firm.My question is whether a partner can claim interest under section 24 b when he get rental income from building
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Is it fair to club the Gross overseas Salary of a person in India WITHOUT considering deductions