Dear Team

In the recent change in the budget in Section 6, the period for being considered NRI has changed from 182 to 120 days in Clause (b) of Explanation 1 in Section 6. However, does the change also apply to Explanation 1, Clause (a)?

To describe my situation, I am currently employed in UAE (I have a Resident Visa sponsored by the employer). I typically travel to India on the weekends to visit my family and hence I am typically ~ 160-170 days in India. Will this change in the number of days be applicable to me also given that I am governed by Clause (a) of Explanation 1 and not Clause (b) of Explanation 1?

Thank you very much in advance for your support.

Regards,
Siddharth

I sell old iron to GST traders.
I buy this old iron from ordinary people who don't have GST
Should I pay tax under Section 94 for old iron?
present I am pay GST of 18% on sales
Please you can advise

If a person owns an agricultural land (ancestral) and from that land he sells a portion of that land . What will be the position of Capital gain?

I had sold my residential house, from the sale consideration received i want to purchase a commercial property . How much tax will be charged & at what rate? Is any exemption available under I.T. Act

Good morning
Salaried employee getting salary per annum 340000 he has pay to professional tax

Sir
I would like to clarify the following

1.Is it possible to file the rectification after the Order Issued by CIT(Appeal) ? If yes
2.What is the time limit to file the rectification ?
3.whether it should be filed electronically or manually ?

4.Further is it possible to withdrawn the Appeal filed with CIT(Appeal) against the Order Issued U/s 143(3) ?
5.If yes what is the time limit to withdraw the appeal ?
6.Is it possible to file rectification against the order issued U/s 143(3) by Assessing Officer after the appeal is filed with CIT(Appeal) but before the order passed by CIT(Appeal)?
7.Is it possible to file rectification against the order issued U/s 143(3) with the A.O after the order passed by CIT(Appeal)?

Dear All,

Today I heard in the budget if you are an Indian passport holder and living in other countries that are not having income tax of the tax-free country whose income will be taxable. I am living in UAE for the last one and a half years on residence visa so from 1st April 2020 I have to pay income tax as per new rule or no?

Please advise.

HRA exemption, life insurance premium, LTA, Employee contribution to PF, voluntary PF, NPS, PPF whether these are removed or retained

My client is an BE professional. His gross receipts for the year 2017-18 was Rs.75 Lakh. He has Regular GSTIN . Whether GSTR 9C audit report applicable for the professional for 2017-18.
Please Clarify.
CA HS RAMGOPAL

Hello Sir/Madam,

I have a followup query related to below queries.
1. How do we show the amount received while selling company leased vehicle to a third party to make the amount legal. Which section should we file this in ITR? Is it that we need not pay any tax while selling the car?

2. For Company Leased Vehicles which are leased for 2 or 3 years an additional GST amount is charged by the leasing vendor since last 1 year claiming that government is not returning back the input credit tax fully. As per the leasing vendors, every quarter government gives back only 5% of GST as input credit, so by end of 2 years, only 40% GST is received back + 20% GST paid as part of residual value payment, so in all only 60% received - means the person who has taken the lease needs to pay remaining 40% GST. Is there no way to get back the complete input credit tax in case of 2 years lease? Paying an additional 40% seems like a huge loss. Kindly clarify.

-------------------------previous query in your site--------------------------------
I have a query related to Car leasing. In my company we have car lease policy, where employee can lease a car which is registered in the name of my organization. I pay EMI for the car and claim income tax exemption on the EMI being paid. After the completion of car lease, i have to pay 20% of residual value to finish the lease. Post that, i can sell car directly to anyone. Sale proceed will come to my bank account. What will be the income tax implication on the money received from the car sale. I am asking this question because it is different than the car sale. In this case, the car is not registered in my name but it is registered in my company's name. I have NOC from company to sell it after paying residual amount of 20%. Can you please help with this ? Thank you,

Read more at: https://www.caclubindia.com/experts/income-tax-on-selling-a-leased-car-to-a-3rd-party-2745434.asp