Anonymous
21 July 2018 at 18:39

Disclosure of foreign bank account

I have a foreign bank which I had opened when I was working abroad couple of years ago. My salary went to that account. Now I reside in India for past 3 years. I have not transferred my money in the foreign account to India. There is no income in that account other than interest, for which is taxed there.
Do I need to declare that account in ITR? If yes, do I need to mention the interest earned?

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TARIQUE RIZVI
19 July 2018 at 17:07

80c : deduction

PPF RS. 1,20,000 + LIC PREMIUM RS 37,796 = TOTAL RS 1,57,796 OUT OF THIS RS 1,50,000 IS ALLOWED BUT WHILE CLAIMING RS 1,57,796 IN ITR-2 THE ALLOWED DEDUCTION IS JUST RS 1,26,501 INSTEAD OF RS 1,50,000. PLEASE SOLVE MY QUERY. AND OBLIGE.

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Prem Moolwani

I have a proprietory business. I have filed since last 3 years ITR-4 (Sugam).

In Coloum E-11, regarding partners/members capital. Is it necessary to show Proprietor's Capital or not.

Can I show my LAST THREE YEAR'S PROFIT as Proprietor's capital or not?

Please give me your expert advice.

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Anonymous

IN PARTNERSHIP FIRM, (WHERE PROPER BOOKS OF ACCOUNTS MAINTAINED) NET PROFIT CALCULATION BEFORE DEDUCTING INTEREST ON CAPITAL & REMUNERATION (i.e. 8 % PROFIT ON TOTAL TURNOVER) OR AFTER DEDUCTING INTEREST ON CAPITAL AND REMUNERATION.

FROM F.Y. 2017-18 INTEREST ON CAPITAL AND REMUNERATION IS WITHDRAWN FROM PARTNERSHIP FIRM ?

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Jacky Bajaj
18 July 2018 at 18:41

Gst on commission

Mr. A earns commission on selling of some taxable products from various persons on which tds is deducted u/s 194h but the annual receipts of Mr A is less than Rs. 20lacs whether Mr.A is liable for registration under gst?

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Suresh Yadav
18 July 2018 at 18:10

Gst refund - nil sale & claiming itc

We are 100% Export Sales Organisation.
We are making GST Refund Application on GST Portal in Form GST RFD-01A.
In one month (Feb-2017) we do not have any Sale but there is purchase in that month and we paid GST on it and now want to claim ITC of the same.

As we have to file GST Refund Application month wise. We have to mentiond the "Adjusted Total Turnover" & "Turnover of zero rated supplies of goods and services".

In My case (For Feb-2017) the Turnover is Nil. and If i enter Nil 'Zero' amount in Adjusted Total turnover then i am not able to claim ITC in Feb-2017.

Please guide me how to claim ITC in a month when there is no any sale & only purchase is there.

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amarjeet singh
17 July 2018 at 17:09

80gg

An employee has taken loan for construction of house in city A but he lives in city B on rent. He has set off interest on loan against his salary can he further claim deduction u/s 80 GG. He does not receive Hra

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mital
16 July 2018 at 18:30

44ad applicability

IF I OPTED FOR 44AD IN AY 18-19 , AND IN NEXT AY 19-20 IF I SHOW MORE THAN 8% PROFIT, THEN CAN I APPLY SECTION 44AD FOR AY 20-21?

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sarbani choudhuri
15 July 2018 at 22:54

No tds but being asked to fill

Hallo Everyone,
I am unable to create XML from ITR 2 because I am getting an error message "Schedule TDS2 : TAN at Sr. No.1 is Mandatory. Employer or Deductor or CollectorNam at Sr. No. 1 is Mandatory . Enter all Mandatory fields at Sr. No.1."
I am NRI with no salary income. I just have Other Income (from Savings Bank interest), Rental Income (from house) and Exempt Income (from PPF and LIC maturity). FY 2017-18 26 AS is completely empty with no details under any field, so I do not know what to fill in TDS tab. I have tried filling NIL or 0 but that is not working.
I am facing this problem just in my husband's IT filing . I submitted mine without any problem. We both have no details in 26AS and same income .
Can you please tell me the solution? Thank you.
Regards,

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HARI PRASAD
15 July 2018 at 21:42

Itr clarification...

Sir, my client has given his car to ANI Technology P LTD (OLA ) company and in return he got an income u/s 194C and further he has salary income also. In this connection will anyone guide me which ITR to file and which business code should be given in ITR?

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