I am working for a software company located abroad. It has no establishment in India. I am a contractor for that company, not an employee. For my services, I am paid in US dollars, which gets converted into rupees when the inward remittance is received.
The August 31 deadline for filing income tax returns (I-T) just has got over. Although filing returns on time has its advantages, the government allows individuals to file I-T returns by up to two financial years.
The Bharatiya Janata Party's manifesto for the 2014 elections promised to end "tax terrorism", and in his campaign speeches Narendra Modi likened the taxman's role to the light touch of a honeybee harmlessly drawing nectar from a flower.