10-30-2011, 09:53 PM
My question is about tax return and wealth statement for exporters.
I am a commercial exporter ( no factory I run business from my home address ) , for last year my total export was Rs. 10858401/- for which my bank deducted with holding tax of 108583/- and flood surcharge of 5777/-
I think this is considered as final tax for an exporter if he don't have any other source of income, am I right?
The firm is proprietorship so I will file the return as business individual as done in previous years?
Do I have to file wealth statement?
How my income will be calculated that I fall in for category of filing wealth statement?
I have an agricultural property worth 6000000/-( buy last year but have no income from that , do I have to mention this in wealth statement?
What is basically purpose of wealth statement? is it basis for further tax ?
Also do I have to give details in Anexure D, expenses electricity , phone, gas bill details etc. (The home is owned by my father )
How I would asses the value of an 8 year old car on my name?
sorry for so many questions but Its getting confusing with IT form have been expanded to six pages from one page.
I am a commercial exporter ( no factory I run business from my home address ) , for last year my total export was Rs. 10858401/- for which my bank deducted with holding tax of 108583/- and flood surcharge of 5777/-
I think this is considered as final tax for an exporter if he don't have any other source of income, am I right?
The firm is proprietorship so I will file the return as business individual as done in previous years?
Do I have to file wealth statement?
How my income will be calculated that I fall in for category of filing wealth statement?
I have an agricultural property worth 6000000/-( buy last year but have no income from that , do I have to mention this in wealth statement?
What is basically purpose of wealth statement? is it basis for further tax ?
Also do I have to give details in Anexure D, expenses electricity , phone, gas bill details etc. (The home is owned by my father )
How I would asses the value of an 8 year old car on my name?
sorry for so many questions but Its getting confusing with IT form have been expanded to six pages from one page.
