taxes

Hi folks, Not great at working these things out, but looking for some potential clarification on this. I joined my companies healthcare policy via Irish Life earlier this year after seeing it was a good deal. However, after going over my last few payslips every two weeks I have a H&D BiK of...

It’s a given that as a tax resident in Italy I need to pay Italian taxes on any distribution I receive but is the IRA account itself subject to the annual wealth tax (roughly 0.02% of the 31 December balance)? Edit: To clarify, I am not contributing to a U.S. IRA. I have one from when I worked...

Starting April 2022, EPF+VPF contributions above 2.5L per finyear is gonna attract taxes. My employee+employer contribution is about 70k per month (12% of basic salary). About 8.4L per year go to my PF account. How is the tax calculated on this? Flat 30% on 8.4L or 30% on (8.4-2.5)L?

Good morning Irishpersonalfinance, Am I making too many AVCs? Context: My employer has mandatory pension scheme after 6 months, I joined and had 1st payslip today. I am 27-years old and thus fall into

From what I have seen on this sub, there seems to be a lot of questions around Foreign Investment Funds (FIFs) and the way that income is calculated. I am providing what is hopefully a brief, simple and easy to understand guide below and is applicable to individual investors only. This is also...

Previously, I had to enter details on cleartax one by one per trade which was quite painful, but it now supports parsing zerodha statements, along with CAMs/Karvy for mutual fund transactions, to automatically fill the tax return with all of the capital gain details required to be filled in...

Edit for clarity: confirmed by me, not the government. Note: on the mobile app, you may need to swipe to the right on the table to see all 7 columns. The average CPI for all items for October 2021 to September 2022 was 148.842 (source), representing an increase of 6.3% over the previous...

My wife and I recently moved to Canada and have been renting out our U.K. home whilst we decide where to buy in Canada. I have been paying full U.K. income tax on the rental income as a non resident of the U.K.. Does anyone know if I have to declare anything or pay any tax on this rental income...

Why this topic is important: This topic is being covered due to existence of presumptive taxation schemes under Indian Income Tax. For our discussion, section 44ADA under the presumptive taxation scheme is relevant. As per section 44ADA, a notified professional(covers IT professionals) is...

Was wondering if anyone has any experience with making their spouse the Primary Member for the medical aid to optimise for the "Qualifying Medical Expenses"? Is there any rules according to SARS regarding who the primary member should be? I am considering making my spouse the primary member as...

I'm entering medical items and the amount, line by line (SimpleTax) and it helpfully keeps the running total. So how much of those items actually gets sent, or are even the individual amounts sent? Does it simply send the grand total? BTW, is it normal for tax/financial software to truncate...

I forgot to include a large amount of unused tuition credits from last year and filed a TP-1.R-V to Request and Adjustment to an Income Tax Return. I did this after receiving my Notice of Assessment. Keep in mind I could not do it electronically as per RQ's conditions, hence filed it by paper...

So i usually wait until the last minute to do my taxes but this year I got my W-2 from the company I interned with in 2020 & I decided to immediately file. A few days later I received a w-2 for an on campus job that I only worked an hour in all of 2020. Is it worth it to re-file for $8.60?

I am an idiot. Let’s get that straight. But we’re here now. I have not filed my taxes in about 5 years. I’m not even sure how long it’s been since I last filed. I have a steady income, and I have a mortgage. What are my next steps. I make about 60 000 a year. I have no dependents. Can I just...

Hello everyone, If anyone wants to get their ITR (Income Tax Return) filed for A.Y 2023-24 for non-audit cases (ITR 1, 2, 3, 4, and TDS return), I'm here to assist you at a reasonable price. We can help each other out. Currently, I'm going through a difficult phase in my life dealing with...

I used the calculator by the CRA to help me figure out what to put in form T777S. Here's a screenshot of what the calculator says. The calculator is asking me to add my entire employment income to line 13 in form T777S. Line 13 is "Amount carried forward from previous year". That can't be...

I asked him to send it, he said he sent it mid January but I still don’t have it, and when I asked him to email it he didn’t respond. Is there a number I can call to file a complaint? Or any substitute of T4 I can get on my own? It was a small job I got for a few months only

I, as a hobby and sort of a second income, bet in sports pretty regularly. Because I have a system, I bet in a disciplined way and follow lots of sports, I make good amount of profit from betting. Obviously, sometimes I lose big, sometimes I win big. Overall, I always keep track of my profit...

Hey all, I'm hoping you can assist me with a tax-related question. I recently moved from the USA to Austria and still have investments in US PTPs (Publicly Traded Partnership) Could someone please explain which details from Schedule K-1 should be reported on which Austrian tax form? I want to...

Hi, After hours of trying to understand whether I would be eligible for the PRSA tax relief or not without too much success, I’m posting here with the hope that someone might be able to provide some help. A little bit about me: 26 y/o graduate engineer from Italy, I moved to Dublin 6 months...