I have to make payment to Citi Bank, Singpore which is a wholy owned subsidiary of Citi Bank, New York.
Rate as per DTAA is 10%
However the Bank has given me PAN of Citi Bank, India.
Whether it is sufficient to have PAN of Citi Bank, India for compliance of Section 206AA or I need to deduct Tax @ 20%.
It is but obvious that every subsidiary of Citi Bank can't obtained PAN in every country of the world.
Please suggest from Client's point of view as the burden of TDS in on Client.
Whether form 15CA and form 15CB is required to be submitted if the money is to be transferred from NRI person's indian bank account to his own foreign bank account?
Answer nowI am payroll exec in one of IT company, one of my employee come and submitted medical bills which was on his mothers name, when i asked he said he will get the letter from hospital stating that she is mother of that employee, will that do for medical rembursement.
Also rent agreement copy is necessary for HRA exemption.
If the employer is bearing income tax and employee part of contributon to provident fund liability of the employee than how will we calculate TDS.
Example: Basic Salary=Rs 264,000 per month+ employer will bear income tax and PF contribution of employee.
One of my client is engaged in the business of export trading. He made export from kandala port. For this purpose my client appointed clearing & forwarding agent who made some expenses on behalf of my client at port. An agent issued debit note in respect of clearing & forwarding expenses and raised the bill for his charges. My client made TDS from the payment made to an agent.My client pays reimbursement of expenses simply. In this situation my questin is whether is it necessary to made TDS from the payment of reimbursement of expenses ?
Please give judgements or Board Circular in support of your answer
dear ir,
a party who was salary person & he received salary from the oriental ins.co.he was death in 2009..nw his family received a claim of rs.415000 of policy & as per 26as tds has been deducted rs.18000..
sir i want 2 know that how to apply effect of policy amount received & that amount is received with interest..but party doesnt know the interst amount included in rs.415000..whether the interest amount received on that is taxable?or fully princial+interest amount is exempted?in which section?
A man has purchased a property in 1990 & after that in year 2011 he constructed the 4 storey on that building. now he has sold the 1/4th part of the land along with one storey.
now whether the gain on slae will be long term or short term?
Will Construction of property be treated as Improvement in already existing property?
Cash Deposited and withdrawn during the year in saving account from cash balance so many times it is allowable by department or not ?and total deposit during the year may be above 10 lacs is allowable by department or not ?
Answer now
We had given packing contract to one individual. he is giving invoice which is in his own name but not company. he had submitted individual pan card. clarify how much tds should i deduct from his bill
Answer nowWhether order passed by assessing officer u/s. 143(3) read with section 263 is appelable to CIT(A) or not u/s. 246(A)?
Answer now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Tds in absence of pan