Dear All,

As an IT company, I need to send my team members outside India to work on the projects.

Suppose I get billing done for a month for USD 15000.
The client as per law of land client will deduct USD 5000 as withholding tax.
Employee salary and other expenses are USD 6000.
Net earning USD 4000 before tax.

Do I need to pay income tax on USD 4000 in India ?
Will I be able to net off USD 5000 paid as withholding tax in the client country if I get a certificate from client that withholding tax was actually deducted.

Thanks and Regards,
Deepak

I lost my job 2 years back. I did not withdraw my EPF (Employee Provident Fund) corpus then, thinking it’s my savings for retirement.
Meanwhile, EPF office has credited interest for FY17-18 in December 2018 with transaction date as 31-March-2018.
Since it was way after filing my last year’s ITR, I could not mention it while filing last year’s ITR.
I am well aware that I need to consider interest earned on EPF account during non-contributing period is taxable.

My questions are;
(1) Should I show the EPF interest earned for FY17-18 in this year’s ITR (as the amount was actually credited in December 2018)?

(2) If not, how should I handle this?

(3) As per my observation, typically EPFO credit interest for last financial year in the second quarter (Oct-Dec) of current financial year. So I cannot show it in the current year’s ITR (as due date is 31-July). Can I show it next year’s ITR?

(4) Is Interest earned on both Employee contribution and Employer contribution is taxable OR do I have to consider interest earned only on Employee contribution.

Anticipating your expert guidance. Thank you.

If we preparing first time Bal sheet can we show previous back 2-3years assets and accumulated depreciation and same can claim in itr

what is the procedure to appoint a share holder as CEO of a private limited company sir

Dear Sir/Madam,

I have shown nil rated goods value in monthly GSTR-1 Column No. 4A & 8A.
How to rectify it?

Thank You!

Hai My Grandfather Purchased Plot within Municipal Limits on 26-06-1973 For Rs.3000. Value as on 1-04-2001 is Rs.21,35,280. He is expired in 2012. Now it is Sold for Rs.53,58,000 and Credited in my Bank account and transferred Rs. 25,00,000 to my elder brother and Rs.8,58,000 to my sister account. Can you please guide me Who can liable to Pay Capital gain tax

HELLO SIR,

MY CLIENT HAVE 2 VEHICLE AND ALSO TAKE HIRE OTHER 5 VEHICLE FOR A SINGLE 5 TRIP OF TRANSPORT,
SO I WHICH FORM FILE UNDER SEC 44AD OR SEC 44AE?

Sir,

What is the difference between Table 8 C and Table 13. If an ITC pertaining to the FY 17 - 18 is
taken credit in the FY 18 - 19 through GSTR 3B, then where should that amount be declared in the
GSTR 9 - either in Table 8 C or Table 13, or Both.

Pls. advice.

Sir,
We have given our factory on lease at Rs 3 lac pm in which Rs 2 Lac is for rent on land and building and Rs 1 Lac is for rent on plant and machinery. We receive Rs 54000 as GST (36000 +18000).
Question-
As we make new addition of machinery ,can we claim ITC on GST paid on new machine against GST paid on L&B or only GST of P&M can be adjusted ??

As per instructions annexed to ITR 4 , It is recorded that the assessee ( as per applicable u/s 44ADA or 44AD) who has any claim of brought forward loss under any head of income , is not to use this form.
Here it arises an interesting situation that in case of an assess who has incurred Capital Loss as per a previous year prior to current previous year and in prior assessment year he reported capital loss . Now for current assessment year ,2019-20 he does not have any new capital loss/gain transaction to report and he feels it is not necessary for him to carry forward capital loss of previous assessment year, as he is not visualising any Capital asset transaction in future also..So he wants to use ITR-4 by voluntarily foregoing any benefit of claim of carry forward Capital Loss. Can he opt for ITR4 .Is there any restriction to use ITR4 even if he does not want to claim the carry forward Capital Loss. Pls help to clarify concept and requirements of law.