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Deepak
My annual income is 10 lakhs. I am saving 1.5 lakhs in 80C, 50k in NPS and around 22000 in medical insurance. What else can I do to save tax. I already have a house and i am salaried person.
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Hi, for proper tax planning, a competent professional will need more information from you about your current financial position and goals. For a detailed discussion, you may get in touch with us at 9811 896 771
CA Rahul Dwivedi 28 Jun 2021For salaried person there are not much scope available under the Act. However we can plan the same within the limitation of the Act and save Tax. For Detailed discussion you can reach us on ca.rahuldwivedi@gmail.com or 9004485377
CA Hunny Badlani 28 Jun 2021For any query, feel free to write to me at badlaniassociates at Gmail.
CA Roomi Gupta 28 Jun 2021To purchase or construct the house if you have taken any Housing Loan, deduction for Intt on Loan can be claimed . For more info contact at ca.roomi12@gmail.com or 9216216819
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Saleem
I have a freelance software development job from Germany where they will be paying around 35lakhs for the year. Do I need to have a gst for freelance jobs. And how do i save tax for this.
Hello,
I they will be paying you as professional fees and not salary, GST Registration would be required.
Further, if the consideration would be in convertible foreign exchange, you can file LUT under GST and supply these services without payment of GST.
I hope that this answer satisfies your requirements. For any query, feel free to write to me at badlaniassociates at Gmail.
Regards,
CA Hunny Badlani
Yes it would be required.
You can read this for more information: https://www.taxontips.com/gst-registration-for-freelancers-in-india/
If you need to have tax planning you can book consultation with experts at: https://www.taxontips.com/tax-notice-personal-consultation/
Hi, since you're involved in export of services, you can claim GST exemption. However, a GST registration and GST return filing will be required as per the provisions of the GST act. For more information, you may get in touch with us at +91 9811 896 771
CA Aditya Dhanuka 7 Jul 2021Dear Sir,
In reference to your query, please note that the requirement of GST registration and compliance is based on turnover.
In case of persons providing services, they need to register if their aggregate turnover exceeds Rs.20 lakh (for normal category states) and Rs.10 lakh (for special category states).
Since your aggregate turnover exceeds Rs. 20 Lakhs, you would be liable for registration under GST.
Your case seems to be fitting in and satisfying the criteria of export of service, and hence based on the information provided, you are hence not liable to pay GST.
However, this value would need to be included in computing your limit for registration, which is exceeding 20 Lakhs.
Therefore, though you would not be charging any GST, however you must take registration.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
M
Maria
My mother is deceased in 2018 and now I have received a notice from IT in her name demanding for re-assessment of her IT return for AY 2015-16. Is this notice valid as she is no more. What does the law say? What do I respond to the IT officer who has sent the notice. Kindly advice. Thanks
Notice issue in the name of deceased is not valid as per law.
You can reach me on ca.rahuldwivedi@gmail.com or 9004485377
Did you inform income tax department about her death in any income tax return or reply?
Also it is not valid to conduct enquiry in name of deceased.
You can oppose the validity of enquiry and they will start it in name of her legal heir
B
Balaji
Belgian company wants to hire contract staff from Indian consultancy. In this case, Indian consultancy accepts invoice payment only in INR. If the transaction need to be done via wire transfer, How the Forex and transaction fee can be handled ?.
Why Indian company only wants amount in Indian currency?
They will get lot of benefits of accepting amount in foreign currency.
S
Suma R
Hi,
I am Indian origin holding UK PASSPORT. I came back to India in 2015 and settled now in India. I am self employed and pay my tax in India. I want to buy agricultural land and retire. Can I buy agricultural land in India? Am I still considered as a NRI ?
