hii eveybody,
Wish you a very happy new year. I wanted to know that if i transfer my salary to my family member's A/c ,then would that Amount to a income in there hand or it will be exempt as i am already paying TDS on my salary. please suggest wat would be the A/cing treatment in my family member's Books.
it will be exempt as i am already paying TDS on your salary !!
Hi Friends
Please help on understanding the tax situation and the way to go ahead in the best manner.
I'm an employee of an MNC where I'm drawing a salary of more than 5 Lacs per annum. I'm also engaged in providing services to an overseas client (Individually) who compensates me to the tune of 8 Lac Rupees, this by way of transfering foriegn currency directly in to the bank account, in the converted indian rupees. The later arrangement is a simple one, not bound by any contracts or related agreements.
My total earnings thus is approximately 13L. I need guidance on the best way to take it forward at the tax front. Would it be a good idea to club the non salaried income as PGBP or is there any better way to portray such income?
If it is PGBP, then what are the points to keep in mind. Thanks in advance!
Regards
| Originally posted by : Saransh | ||
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Hi Friends Please help on understanding the tax situation and the way to go ahead in the best manner. I'm an employee of an MNC where I'm drawing a salary of more than 5 Lacs per annum. I'm also engaged in providing services to an overseas client (Individually) who compensates me to the tune of 8 Lac Rupees, this by way of transfering foriegn currency directly in to the bank account, in the converted indian rupees. The later arrangement is a simple one, not bound by any contracts or related agreements. My total earnings thus is approximately 13L. I need guidance on the best way to take it forward at the tax front. Would it be a good idea to club the non salaried income as PGBP or is there any better way to portray such income? If it is PGBP, then what are the points to keep in mind. Thanks in advance! Regards |
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i feel your job would go in trouble if u disclose the facts of overseas income, coz MNC jobs have loads of restrictions over the employee
form a HUF and shift the overseas income to that file
CAclubindia
