Hi!
Need urgent advice on the following.
I am working as a professional with a Salary/Fees drawn from my Company in Malaysia into my Indian account. The amount as of now is 121,000 INR per month. Recently due to various costs encurred in office maintainance and other areas, the company decided to pay me an additional 155,000 INR per month. This is supposed to be used to pay my house rent (Which also is being used as my home office), buying a car to use for official purpose and other expenses like internet, telephone etc etc..
I am worried about the huge tax implication i may face. Can you kindly guide me on how to streamline this issue with minimum tax liability. My CA till no was showing a 50% profit and dealing with it was easy. But what to do now?
Also what are all the expenses i can show, if you can send an exhaustive list. Need it urgently so will appreciate a fast response.
Thanking you in advance.
Debarchan
CAclubindia
