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Vijay Kumar Prajapati
I have income coming from my Salary. Also, I am doing affiliate marketing. Can I claim deductions on the expenses incurred while generating income from affiliate marketing (domain/hosting etc.)? (As per old/new tax regime)
How should I categorise it, income from other sources or income from the business?
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You definitely can claim deduction, however, kindly consult your CA. If you need professional advice, please contact at canavinjain1@gmail.com/ 9830375894.
CA Hunny Badlani 30 Mar 2021YEs, the expenses can be claimed. For further assistance, Kindly contact us at badlaniassociates at Gmail.
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Rahul Soni
I am employed with a company based in UK as a consultant. Will I come under section 44ADA of the income tax? Assuming I get 10,000 GBP annually, will there be any taxes on that except the 10% TDS?
Should I consult a CA for it now?
You need to consult with your CA, also your GST implication needs to be analyzed. If you need professional advice, please contact at canavinjain1@gmail.com/ 9830375894.
CA Aakash Ostawal 29 Mar 2021Yes, you can opt for taxation under 44ADA.. There will be taxes in india based on Slab rates. You can consult us on 9880610887
CA Naman Maloo 29 Mar 2021If you are earning from outside India how is TDS getting deducted?
You can consult a chartered accountant at:. https://www.taxontips.com/tax-notice-personal-consultation/
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Radhesh Walwadkar
What are laws related to ESOP sale (traded on NYSE) & already tax paid. Do I need to re-invest amount immediately?
Or I can hold partial amount & invest partial.
CA Navin Jain 28 Mar 2021There is no such requirement of reinvestment of proceeds. The taxability of the ESOP would depend upon your residential status and other factors. If you need professional advice, please contact at canavinjain1@gmail.com/ 9830375894.
CA Naman Maloo 29 Mar 2021You can read about the same here: https://www.taxontips.com/tax-in-india-on-income-earned-from-rsu-vested-in-foreign-countries-and-exemption-from-such-income/
And even book consultation to understand taxability of same.
Thanks Navin & Naman,
I am not concerned about taxation as it is already deducted by Broking Firm( 36% in total) & paid to Govt of India. I am more concern about do I need to reinvest amount immediately after transferring it to India. As per Navin, looks like there is no such law or requirement to reinvest.
Radhesh
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Lalit Chawla
Company charged tax due to non submission of rent receipt How can i get my tax back?
By filing the ITR, you can claim the deduction and get refund of the tax deducted by the Company. For any assistance, kindly contact at +91-9911744028
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Vh
Have taken personal loan. The money got credited to my bank account.
Income Tax department may consider this as Income and tax it. How to prevent this?
What to write in ITR?
Hi, It is a loan taken by you and not earnings hence it can't be added in income. However you should keep the necessary loan documents like sanction letter, loan agreement with you so that you can prove this if any inquiry or question is raised by the Income Tax department.
Secondly if you are a salaried person, there is no need to declare this in your ITR. If you are having business, you can show this as a loan in your financials if the purpose of the loan is for business
No, this will not be treated as a loan. If you receive any query then you have to give the explanation that the amount received is a loan.
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