Income from consutancy to foreign co. & itr form
This query is : Resolved
25 July 2012
I am doing job in software co. received salary income above Rs. 10 Lacs. And also received other income through consultancy business to foreign US Company. Pls let me know should I get any exemption for consultancy business as the whole income from consultancy is received in foreign remittance.
Pls also let me know which ITR form is used & should I file online return compulsory as the the total income is more than 10 Lacs. Pls guide
Pls also let me know which ITR form is used & should I file online return compulsory as the the total income is more than 10 Lacs. Pls guide
26 July 2012
Mr Shamkant!
You will get no exemption. However, you were to charge Service Tax @ 12.36%. Again this Service Tax is exempted provided you get the amounts from USA and UK in Convertible Currency.
Further as you are exporting your services so Import Export Licence must be with you - and seems you have not.
You will use Form 4 for ITR.
contact@vkbajaj.co.in
You will get no exemption. However, you were to charge Service Tax @ 12.36%. Again this Service Tax is exempted provided you get the amounts from USA and UK in Convertible Currency.
Further as you are exporting your services so Import Export Licence must be with you - and seems you have not.
You will use Form 4 for ITR.
contact@vkbajaj.co.in
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- Applicability of Ind As to associate of associate
- Confusion around Form 26QB fields
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Gst input for FY 23-24
- Tax on capital gains revoked us 54f
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
