Answered on December 29,2017
Answered on December 29,2017
The excess tax can be claimed as refund by filing your Income-tax return. It will be refunded to you by crediting it in your bank account through ECS transfer. The department has been making efforts to settle refund claims at the earliest.
- In a case where disputed tax contains qualifying tax arrears as also non-qualifying tax arrears (such as tax arrears relating 10 assessment made in respect of undisclosed foreign income): Whether the assessee is eligible to the Vivad se Vishwas itself? If eligible, whether quantification of disputed tax can exclude/ignore non-qualifying tax arrears?
- I hold a PAN (permanent Account Number) and OCI (Overseas Citizenship of India) card and am a current citizen and tax resident of Australia. I am planning to come back to India after retirement. Will my Australian retirement funds which are tax-free in Australia be also tax-free in India, if I decide to become an Indian tax resident in the future?
- I am a non-resident Indian (NRI). I do (Systematic Investment Plan)SIPs in six equity mutual fund schemes that amount to INR1.8 lakh a month. I do not have any income in India and every year I get refund for tax deducted at source (TDS) of debt funds. I would like to churn my portfolio (units that have completed 1 year) every year before 31 March and reinvest the amount in same plan before 31 March. Will long-term capital gain tax (LTCG) tax reflect on my 26AS certificate? Can I claim refund as I do not have any income in India?
- 1.To execute gift deed, is there any charges, including the tax, lets say if i need to give 10lakh gift to my wife. I assume there won't be any tax, but during gift deed, is there any tax i would need to pay? 2. If i take loan (say 10 laksh from ) my brother in law, and later i would pack him monthly or termly like 1 laksh after every 6 month, is there any chance to get caught by income tax?
- I was an Non-Resident India (NRI) for 6 years (FY2009-10 to FY2014-15). Then, I spent most of the last 2 financial years in India. For tax purposes, I attained Not Ordinarily Resident (NOR) status for two financial years (FY 2015-16 and FY2016-17). What would be the actual count of days that would determine my tax status in India? How will Indian tax authorities consider the taxability of my Dubai salary?
- I am an Indian resident. Can I ask the US firm to deposit the money directly into my India bank account? What will be the interest rates paid to me by the banks in India? Will the US firm be expected to deduct TDS and remit to income-tax department in India and give me proof of such deposit in Form 16. Will I need to charge Goods and Services Tax, (GST) on the earnings and remit to government?
- I was living in Australia for the past 9 years. I have come back to India. I have a job and income in India on which I pay taxes and file tax return. However, for this year, I would not have spent more than 180 days in India. When I file the tax return, will this income be included in my income or can I exclude it for tax purposes?