Tax liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2016
Dear Sir,
My father is a painter. He is vendor enlisted in Ambuja Cements Ltd. He has no trade licence or current account. He has received his payment in Savings Account through RTGS. I want to know that if he receives Rs. 30,000 in 4 installment withing a month through savings account after deducting TDS from company then any problem arise for Income tax. His income is non taxable.
Please help me.
My father is a painter. He is vendor enlisted in Ambuja Cements Ltd. He has no trade licence or current account. He has received his payment in Savings Account through RTGS. I want to know that if he receives Rs. 30,000 in 4 installment withing a month through savings account after deducting TDS from company then any problem arise for Income tax. His income is non taxable.
Please help me.
05 January 2016
Since the amount is nominal no problem will arise under income tax.
But if you expect a big amount exceeding Rs 10 lakh pa then open current account.
But if you expect a big amount exceeding Rs 10 lakh pa then open current account.
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2016
Thank you sir for your reply
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- 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 ?
Trending Online Classes
CAclubindia
