Filing Income Tax Return (ITR) for Seafarer
As per Section 139(1)(b), every individual, if his total income exceeds the maximum amount which is not chargeable to income tax shall file his return
Rohit Pithisaria 15/07/2024
Menu
As per Section 139(1)(b), every individual, if his total income exceeds the maximum amount which is not chargeable to income tax shall file his return
Traders in the foreign exchange market implement the same two types of analysis as stock market investors do: fundamental and technical analysis. The applications of
A seafarer salary is tax free in India if he is out of India for 184 days or more (185 days in case of a
Meaning of Seafarer A sailor, seaman, mariner or a seafarer is a person who navigates water bone vessels or assists as a crew member in
Taxability of Salary Income Salary income received by a non-resident seafarer working on a Foreign Flag Ship (sailing outside India) is not taxable in India.
Non-resident seafarers are allowed to have various types of bank account as follows: – Non-resident Ordinary Account (NRO) It is a rupee-denominated saving account for
A person can make an application for refund of GST before expiry of two years from the relevant date in such form and manner as
Rule 138 of CGST Rules defines the provisions of e-way bill. The provisions of this rules is applied by various states on different dates. The
What is Reverse Charge? Normally, GST is to be collected by the person who is selling good and services. But in some cases GST is
A new functionality has been introduced on the GST portal for the surrendering of GST Registration. If you want to cancel your GST registration, follow
As per the GST law, generally a taxpayer pays tax under normal rates i.e 5%, 12%, 18%, 28% and avails cenvat credit on inputs, input
What is Input Tax Credit (ITC) Input Tax Credit refers to the tax already paid by a person at time of purhase of goods ro
Cost Inflation Index (CII) Applicable from Financial Year 2017-18 Financial Year (01 Apr to 31 Mar) Cost Inflation Index (CII) 2024-25 363 2023-24 348 2022-23
Each year, individuals earning income higher than the basic exemption limit are required to file their income tax returns (ITRs) online. If you belong to
Anyone whose total taxable income exceeds the basic exemption limit is required to file an Income Tax Return (ITR) during the relevant assessment year. If
TDS, also known as Tax Deducted at Source is a direct taxation mechanism that facilitates direct tax collection from the source at the time of
As in many Asian countries, online gambling has been on the rise in the last several years in India. At the same time, India has
Following an increasing internet penetration in India, more and more Indians are beginning to make use of so-called online betting sites which allow users to
One of the best way to save income tax is to utilize the deduction available under section 80C. The current maximum threshold limit is Rs.
Each tax payer in India under the direct orders of Central Board of Direct Taxes (CBDT) is allotted a Permanent Account Number by the Income
Equity Linked Savings Scheme, commonly known as ELSS, is a diversified, open-ended, equity-oriented mutual fund scheme. In ELSS, 80% of the portfolio amount is required