I am Indian resident. Paying tax in India. My income as under;
>a) I have Indian income of 12,00,000 (interest income, rent of 2 lac, and other income)
>b) further have i have following foreign income;
i) foreign commission income of 4.50 lac (can i deduct foreign travel+visa expense of 45000),
ii) foreign dividend income 2,50,000 (from shares of foreign venture fund investment*) and
iii) Loss = 8,50,000 (from foreign venture fund investment)
So total foreign income= 4,50,000 + 250,000 = 7,00,000 and loss= 8,00,000. . so net is -1,00,000 (loss)
Net effective foreign income is loss of 1,00,000
My queries as under;
1) How do i compute my income tax
2) Is my foreign commission (4.5 lac ) treated as business income ?
3) Which form do i need to fill up ITR2 or ITR4?
4) Can I club all my foreign income including commission under one head foreign income?
5) can i deduct my foreign loss from Indian income?
Ex : Mr. X purchased property 1984-85 at Rs. 100000 subsequently, incurred cost of
improvement Rs, 500000 and settled in favour of his son Mr. Y in 2001-02 and paid fix stamp duty since it was family settlement and sub registrar adopted rate for registration of settlement deed Rs. 200000 after depreciation of property. Susequently, in the FY 2010-11 it was sold for Rs. 50,00,000/- pl let me know what will be the cost of acquisition for his son Y with indexation. Office has adopted Rs. 200000/- cost acuisition, ignoring family settlement and cost on which property acquired in 1984-85 by Mr. X
I am Salaried Individual and my threshold Income exceed the exemption limit of Rs.2,50,000.00 (My basic Salary including bonus and leave salary for yearly is 3,50,000.00). Now the CBDT has extends the due date for filing of Income Tax Returns from 31st july to 31st Aug. 2018, whether the same is applicable to me. i.e. If I dont have the liability or no tax to be paid in this case I have to file the return by 31/07/2018 or by 31/08/2018?.
I filed ITR-1 yesterday without paying tax and interest amount and have not yet e-verified. Can I file revised return u/s 139(5) today by paying tax and interest amount before getting notice from IT Department? Or Should I wait for the notice from IT Department to revise the return?
My firm is controlled by my mother earlier retried 4 year past . Firm has IEC code active on her pan card and firm name .know she retire and I am owner as per gst registerion.know for export from firm to china required new code or do export on same cord.
What is the date of acquisition for equity shares of listed company received as gift from grandfather which are sold within one month of gift ?
What are the tax consequences if both the transactions have occurred before 31st March 2018?
How to find out TAN & PAN no of a company (company has deducted TDS through my payments but not showing in Form 26AS)
I try to search on IT website but no sucess
Company address is as below but I get payment from Chennai office
Company details are,
Astron Certification India Pvt. Ltd
India
Office No A406, A Wing, 4th Floor,
Shiv Chamber, Plot No 21, Sector 11,
CBD Belapur, Navi Mumbai – 400614,
Maharashtra, India.
T: +91 22 49748540
astron-india@astrongroup.com
A domestic company incorporated in the FY 17-18 relating to AY 18-19 engaged in trading business . The total turnover or gross receipt of the company in the previous year 17-18 is less than 50 cr.
Please let me know the tax rate of the Company.
IF I HAVE PUT AN EXHIBITION FOR THE PURPOSE OF ADVERTISEMENT, DO I NEED TO DEDUCT THE TDS ON THAT AMOUNT.
WHAT IF A COMPANY NOT LIABLE FOR TAX AUDIT ACCEPT LOAN FROM DIRECTORS IN CASH?
All Subjects Combo (Regular Batch) Jan & May 26
Income-tax computation of global income of indian resident