Where a remittance is made to a person by way of salary on monthly basis(for services being rendered outside India) to a NRI employed for overseas branch of a firm resident in India. Whether the same is chargeable to tax under the Head Salary in case of such employee in India or in the country where the employee is based.
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Facts: - 1) I have contributed Rs 1.80 cr as advance to Builder on sep 2014 and booked a flat. 2) July 2016, another payment of Rs 27.50 lacs was paid 3) July 2018, Building was completed but i didn't get the possession of premises and dispute filed in court. 4) Court decide in favour of assessee and in dec 2021 settle their dispute a sum of Rs 3.5 cr. (Rs 2.075 own contribution plus interest) Query: - Weather the amount of Rs 1,42,50,000 which is received over and above of own contribution would be consider as "Capital Gain" or…
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I want to know the TDS section for tds on videography or photography services on the basis of case laws.
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My assessee received Form No.5 of VSVS and afterwards in the Income Tax Department Internal Audit or AG Audit came and raised an objection regarding incorrect calculation of interest although completed through ITBA portal. Subsequently the AO issued notice u/s154 and passed order u/s154 raising the tax liability. Is this stand of the department is correct or challengeable in appeal or petition u/s264 may be filed or writ in HC may be filed.. Please suggest..
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IF ex parte order is passed u/s 24[4] as above said, Is it possible to get it recalled ?
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Assessee is proprietor engaged in the business as Gas Agency under Bharat Gas. He has received notice U/sec. 148 for AY. 2013-14 and 2014-15 after 31.03.2021. Assessee filed the Return of Income for both the years and asked for reasons for reopening and copy of proposal sent for approval before higher authorities and approval granted and also.documents as well as information in possession of AO. AO has provided the issues in reason that assessee has deposited huge cash in Bank account . Assessee has once again asked for verbatim copy of reasons , copy of proposal sent for approval before…
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Assessee is an individual and partner in partnership firm engaged in the business of advertising. In the A.Y. 2008-09. Assessee received a amount of Rs. 1 cr against his right in the property, which is liable for longterm capital gain. Assessee invested the amount of Rs. 1.25 cr for purchase of residential bungalow alongwith the land appertatnent their to by executing the Development Agreement and power of attorney by paying full stamp duty and also taken the possession of the said property. The assessee has not carried out any Development on said property and after holding for period of 42…
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In the F.Y 2019-2020, assessee received gift of Rs. 1 crores from his grandfather by account payee cheque and supported by proper gift deed. Grandfather is assessed to tax regularly and had income of Rs. 5,00,000/- for the F.Y 2019-2020 which comprises of income from House Property and interest. During the course of assessment proceedings, assessing officer issued a show cause to the assessee asking him as to why the addition u/s 68 of the Act should not be made in respect of receipt of gift from the grandfather as grandfather had only income of Rs.5,00,000/-. Assessee submitted the affidavit…
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Assessee is a start up company and issued the shares to the investors at a premium of Rs. 200 per share. During the course of assessment proceedings for A.Y 2020-21, AO issued a show cause as to why share premium received by the assessee company should not be taxed in the hands of the company under Section 56(2)(viib) of the Act. The assessee company submitted a detailed reply,however the AO proceeded to make addition under Section 56(2)(viib) on the ground that the assessee company could not give proper justification for acceptance of the premium, without considering the fact that the…
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Taxability of salary of NRI in India for services rendered outside India