LAW QnA - Page No 211

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16 December 2024 at 18:27

OCI Holder are partners and holding 99%

Hello sir / mam,
A partnership firm floated with 3 partners out of which 2 partners are Overseas Citizen of India and both of them contributed 99% of capital and profit sharing also 99%.

Please clarify whether OCI can float partnership firm and contribute 99% capital and what are the compliances to be made and consequences to be faced

SHASHANK KUMAR SULTANIA

16 December 2024 at 18:16

Can HUF be partner

Hello,
One question that can HUF be partner in partnership firm? If yes, then can the karta of that HUF can provide the contractor service to that partnership firm in which HUF is partner?

Please guide 🙏

pkkapoor

16 December 2024 at 17:46

Tax liabilty for a Indian person stay abroad earning salary in foreign country and paying tax as per

An individual would be resident in India if he stays for 182 days or more in India during the previous year or if he stays for 60 days during the previous year and 365 days in the 4 years preceding previous year. If an individual fails to satisfy the above conditions, he will be considered as a non-resident in India

In the above context, what would be tax liability in the following case-
- a Indian person working outside India
- having foreign income of Rs 1 crore or above
- pays income tax in that foreign country and
- income in India is less than Rs 5 lakh
- and visits India for about 80 days during PY 2024-25 and more than 365 days in the last four PYs.

What would be the tax liability?

Chahat Khanna

16 December 2024 at 17:29

TDS ON SALARY multiple employers

Resolved and deleted.

Urvashi@0311

16 December 2024 at 15:54

REVISE RETURN UNDER NEW TAX REGIME UNDER INCOME TAX

HI! i have no business income my income includes salary, capital gain and other sources and filed return for the F.Y. 2023-24 in new tax regime , i want to file revised return. can i file revise return in old tax regime???