Dear All,
I've a question regarding income arising from a technology related international sale. Amount ~$20 million or 100 crore. Now my questions:
a) what will be the Tax percentage on such income? (not a company, single person only).
b) how will such a transaction is Taxed? Individual or Company rate?
c) if Indian Govt taxes, will there be any problem from the IRS? (IT dept of the US).
d) for what FY I declare as? 2012-13 or 2013-14 (transaction say happened in November or what if in Jan' 2013)
e) for individual cases total tax is ~31% so it's 31 crore. for domestic company it's ~33 crore. I've an idea. I'll ask about this as a new question later :)
Please respond.
Thanks & Regards,
~akula2
CAclubindia
