Sir,
If employee retires , and also received PF amount from PF office. But during service some litigation was pending in court in a case filed by employee against employer during service period and which was subsequently settled in favor of employee after his retirement. As a result employee received arrears of salary in terms of court's decision and which is taxable as salary.
In addition employer also paid Employee the share of PF contribution on salary arrears directly to employee, as PF a/c had already closed at his retirement without any interest component.
Now query arises whether this payment of Employer's share of PF contribution , received by employee directly from employer thru bank transfer, Can it be treated as exempted income OR it will be treated as part of salary arrears and will be taxed.
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I LEFT INDIA FOR THE FIRST TIME DURING SEPT 12TH 2021 FOR DUBAI FOR JOB.
I WAS GETTING SALARY TILL AUG 2021 AND COMMISSION INCOME FROM INDIA.
FROM OCTOBER 2021 I AM GETTING SALARY FROM DUBAI.
WHAT IS THE THE TAX LABIALITY FOR ME FOR THE LAST FY 2021-22
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I HAVE SALARY FROM PREVIOUS EMPLOYMENT TILL AUG 2021 FROM INDIAN COMPANY.
I HAVE FEW COMMISSION CREDITED TO MY ACCOUNT AS AGENT.
MY QUERY IS THAT WHAT WILL BE MY TAXABLE INCOME FOR THE FY 2021-22.\ AND WHAT ITR SHOULD I FILE .
THANKS AND REGARDS
SURESH R
Dear Sir,
One of my client has earned Commission income from an Insurance company and the company has deducted TDS @ 10% under Section 194JB
My query is while filing his Income tax return under which head of Income should I consider this income. Can I take this income as Other source income since commission income does not come under Presumptive Taxation scheme under Section 44ADA.
Please help me in this matter.
Regards,
Divyesh Jain
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I was holding shares in my NRI PINS account and after becoming resident, opened a resident demat account and transferred PINS shares to the resident demat. This is recorded as an off market transfer in the records, by the depository. STT was paid at the time of purchase of shares.
Would like to know the tax implications on sale of shares in the resident demat: if the total holding period (NRI PINS+ resident demat) is more than 12 months, I need to pay only LTCG? Or, holding will be considered from the off market transfer date, where STT was not paid? Please clarify.
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Employer's contribution of PF received after retirement and with litigation