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Question & Answer


P

Prem Kumar

19 May 2023

Is Market value will less from LTCG cost of residential plot at the time of tax payment.

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A

Akshay

19 May 2023

I sold one part of urban agriculture land in 2023 March end and other agriculture land in April 2023. Can I apply for two capital gain bond now worth 50 lac each one for last year sale and one for this year sale?

No Reply  


A

Aarav Sharma

17 May 2023

I am a part-time freelancer based out of India who works with a platform based in the USA, and I receive payment for my services in USD. The platform recognizes me as a self-employed contractor. I am unaware of the taxation regulations in India for my income and would like to seek professional assistance to ensure that I am compliant with the law.

Replies (5)                          

Aarav Sharma    17 May 2023

One thing here is that, although my earnings are in USD. The platform transfers the amount to my account in INR. They have partnership with some company, which transfers the money using some predefined conversion rate.

CA Yash Jain       17 May 2023

Mere receipt in India would not make you liable for tax in India, would suggest you to change the payment details and ensure to receive amount outside india, else you need to apply to assessing officer of the jurisdiction of the account you hold and get no tax liability certificate and ensure transfer from Indian account to your respective country account, however if you are also Resident in INDIA, then it is taxable and for more details contact me at cayashchopra@gmail.com

CA Rahul Dwivedi       22 May 2023

Dear Sharma Ji,
As i understood, you are leaving outside India and providing the services to company based outside India however the payment for the same you receive in India, however to advise required further details :
1) What is your residential Status Resident / Non Resident
2) The amount you receive in NRE A/c/ NRO A/c or normal saving Account
3) The amount you receive in convertible foreign exchange which get converted in INR based on previling exchange rate through platform like paypal or you receive in INR
You can approach us for further discussion at ca.rahuldwivedi@gmail.com or 9004485377.

Aarav Sharma    22 May 2023

I am Indian citizen and I am living in India. I work with platform which is based out of USA.

CA Neeraj Bansal       24 May 2023

Dear Aarav, in your case GST registration may be applicable but it is not meant that you need to pay it.. There are may factors which decide it, Since you are resident of india, your global income will be taxable in india. I Am dealing many clients same like you. For any further assistance , you can contact me at 9718046555

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S

Sagar S

13 May 2023

Which is the best tax saving option to withdraw money from OPC company as a directror ?

No Reply  


K

Kunal Ghosh Roy

9 May 2023

I have recently purchased a flat in an Apartment. So, for a temporary arrangement one of my dormant bank account is being used to collect maintenance fees. Then necessary spending for the apartment done from there like common meter electric bill, security salary etc. Will this money be calculated as my income? And is there is there any tax implications? Also, as we don't have owner's association, what steps should I take?

Replies (1)                          

CA Yash Jain       17 May 2023

Would advise not to do the needful, it just requires a by law with a signature of all the flat owners to constitute a association and to create an maintainence account, would advise the needful.

for better service and more info mail me at cayashchopra@gmail.com

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