Working as a Consultant for Foreign Company and Salary credited to my account.

Do i need to pay tax?

1) For entering details in Sch AL - under sub heading Gold Jewellery - how do you sub-divide between your wife and your self. My wife files tax separately. She has inherited jewellery from her mother and mother-in-law , I have bought some Gold Jewellery for her over the years and she has received some as wedding gift. I have bought jewellery as gift for others - like my daughter and relatives on wedding occasions in the past year. What do I show in my tax filing under this sub-heading heading under Sch AL?

2) In Sch AL : Bank Balances and Cash at Hand - are these to be shown as of 31-March balances ?

We are a SaaS company and we provide software services to countries around the world. We don't export any physical goods. We only export wire-transferred software which doesn't move physically.

So do we need to go through the process outlined below for every remittance we receive from our customers:

https://www.indiafilings.com/learn/e-bank-realization-certificate/

While uploading the ITR online after validation with no error, I'm getting an error message stating "schema error occurred while submitting your form, try later". This has been happening for the last 2 days and I'm using the latest version of Desktop Utility. Can someone please help to sort out the issue?

Hello sir,
I have query Income tax s related, I have deposited Rs 21lakh cheque..
and have insurance in SBI BANK.
what liability i face at the time of filing income tax.... and what are the effect on GST.

Hi all,
I am filling ITR 1, while uploading it is showing the above message " schema error found".. can you please help. I have also paid self assessment tax which is still not showing in 26As.. is it the reason.

1) What are the consequences' and which return shall be considered as valid return?
2) What if intimation u/s 143(1) consider the return under old regime and moreover not considering the deduction under old regime( such as 80c, std. deduction from salary)

Hi,
I plan to start a Real Estate LLP firm.
Primary aim is to buy and hold Commercial real estate for rental and capital appreciatoin.
If I am able to put the entire rental income back into real-estate, will I have to pay any taxes
e.g. if my rental income is 15lacs and I buy fractional CRE from strat-prop for the same amount, will there be a tax outgo?
If I sell a property bought under the name of the LLP, and have gain in it, and if that money too is ploughed back into buying real-estate, what would be tax outgo?
Regards,
#Valmick

IN FY 18-19 WRONG ITC CLAIMED IN GSTR 3B (IGST CLAIMED INSTEAD OF CGST AND SGST).
QUESTIONS ARE
(1) IF RIGHT TAX NOW PAY AND CAN CLAIM REFUND ?
(2) INTEREST APPLICABLE ?
(3) PENALTY APPLICABLE ?

INFORMATIVE MATERIAL (1) SECTION 77 OF CGST AND SECTION 19 OF IGST (2) RULE 89(1A) (3) NOTIFICATION 35/2021 (4) CIRCULAR 162/18/2021

WHAT WILL BE SCENARIO RIGHT NOW ? BECAUSE IN CIRCULAR AND NOTIFICATION "ONLY FOR TAX PAID", WHAT ABOUT ITC ?

THANKS IN ADVANCE

Assessee is an LLP Firm in the business of making music videos.
He has approached an investor to invest in his video for completion & distribution of song & in return a % of revenue will be shared with the investor.

Query 1 - Is GST applicable on the above transaction at the time of Investment inflow (for Assessee) & revenue sharing outflow( for Investor), if YES under which HSN code ?

Query 2 - If GST not applicable, then how the same will be shown in BOA at the time of investment incoming & when the revenue start generating (outflows) at the time if sharing of revenue in the said song. for both Investor & Assessee.