Sir/ Madam
Kindly clarify regarding the below mentioned suitation:

An Indian holding company wants to raise funds from its wholly owned foreign subsdiary
whether the External Commercial borrowings are applicable?

If so, kindly share the relevant notification issued by RBI for reference

Thank You in Advance

I want to understand whether I can declare a NRI status for my son in USA .All the conditions for NRI are satisfied.
F Y STAY IN INDIA
15-16 104
16-17 21+32
17-18 19
18-19 0
19-20 47
what is the procedure to declare NRI status in In tax India -Hyderabad. how much fees does a concerned professional charge to do the declaration? what documents are required.

any one tell me build management committee of trust and format of management committee of trust and what is registration process of management committee of trust

I have a cab and two drivers who work as employees for me but in a call center company. Now I want to incorporate a business with 2 employees where the income from the services provided is put as payment for company and the expenses (wages, fuel, car service) deducted before calculating the final taxable amount.

I am also planning to increase the number of car/services and employees in further years. What way should I proceed such that the money from business is not clubbed in my regular income (I am already salaried)?

Should the company be OPC or PLC? Do I need to hire regular services of CA? Please advise.

Dear All,
Greetings !
I had been working in a private company for 8 years. Now i have resigned from there. Please suggest if I can claim for gratuity payment from there. This company has more than 15 employees and not registered with ESI & PF.

Please advise.

With best regards,

Vijay

Dear Expert,

Kindly guide for given below requirement :

Profession tax deduction from Incentive and Salary : We are already deducting a profession tax from the salary but we have not started to deduct from the Incentives. As per statutory norms we need to deduct the P.Tax from incentives also. In this case we have to combine the total amount of Salary and Incentive and then calculate the Profession tax over it. From salary, the tax gets deducted from system, while for Incentives we have to calculate the difference amount and deduct from the incentive and pay.This is to be implemented from April 2019 onwards, but since we have not done this compliance we will have to calculate the P.Tax for April and deduct it from May incentives of our employees. For May the new system will be followed.

Mallikarjun Shetty-Solapur (Maharashtra)
9423535956

Hello every one, good morning,

I was paid TCS challan on 7 Jan 2020 and today I want to fill TCS return but challan is not update on NSDL and Traces web side.

In that case, could I filled return or wait for challan update?

Hello,

I need some advice from the real life experiences i am facing.

My dad had a proprietory firm from 30 years. I am an MBA by qualification and I was working with my dad from the past 15 years. We both were handling the firm very well. But suddenly last year in April my dad expired due to cardiac arrest and the entire office work load came on me.

I tied up with a CA who is well known to me and we made an arrangement in which all the audit work in which signature of CA is required will be done by him. The sharing is 50% in this and the staff employed will be mine. All the audits got completed in time and returns were filed timely. Some of the existing clients went away as they had more trust on my dad since he was a CA.

Now at present there is less work for me and the 2 staff employed with me, I feel the need of only one. But if I remove one of them then next year audit will get into problem as 1 staff cannot handle everything.

My problem is after sharing the audit fees with the CA and after deducting other expenses like salary, electricity, office expenses there is not much left for me in Profit incase of running the firm.

I also have a Payroll Outsourcing business in which 2 of my clients also do tax audit with me. In payroll work my profit is taken in different entity and this work is done entirely by myself and there is no sharing of this work with CA but if I sell the firm I fear the client might go from me.

Can anyone here suggest me what course of action I must take now. Whether to sell the firm or keep on running like this with not much margin in audit work. I want to think on long term basis as I am only 35 now. My only interest is in Individual returns and Payroll work as CA sign is not required.

Thanks,

Dear Sir/Madam,

I request you to please clear my query regarding gratuity calculation.
As per Payment of Gratuity Act of 1972, if employee having completed 5 and more years of service in a company then applicable for Gratuity
but my question is, in that period employee on sick leave i.e. approx 2 years then he is applocable for Gratuity?
please confirm my said said query.
your co-operation will be highly appreciated.

Regards
Rajnish

Hello,
If i Ship items from India to Dubai for an exhibition and reimport them back to india, For documentation Purpose, who do i Bill the Items to.
Who are the consignees of the shipment.
Can I declare myself as the Consignee, go before hand and collect the shipment myself,

What is the Standard Practice for Shipment of exhibition Items.

Thanks

-Vishag