A person is employed in UK since July 2007 with a software company. Company in UK is a branch of an Indian company. During the F.Y. 2009-10, the said person received salary in India as well as in UK from the same company. UK branch has deducted income tax at source on salary received in UK as well as on salary received in India and has issued Form P60 to him. Form P60 is something similar to Form 16 which is issued by an employer in India. Indian company has also deducted income tax at source on salary paid in India and has issued Form 16 to him. This has resulted in double taxation on salary received by him in India. Can he claim relief u/s 90 of the Indian Income tax Act. During the F.Y. 2009-10 he has been out of India for more than 182 days. His status is that of a resident but not ordinarily resident.

Hi
respected sir/mam

i want to know what is interest coverage ratio and for project finance whether is it should be high or low.

if suppose it is high then what will be the effect?

if suppose it is low then what will be the effect and meaning

please help

thanks in advance

Dear sir,
whether shareapplication money received by a company convered under 269ss/t. If yes. pls. clarify and consequences of taken/ and repayment in cash more than 20000/- .

1. Compute the net wealth of Akbar, a resident individual as on 31.03.2011 from the following:

(a) He has a house property at delhi valued at Rs. 20,00,000/- which is used for business purposes.

(b) Vehicles for personal use – Motor Car Rs. 8,40,000/- ; Motor Van – Rs.4,50,000/- and Jeep Rs.3,54,000/-

(c) Cash in Hand – Rs.3,50,000/-

(d) Jewellery – Rs.15,60,000/- and

(e) He had transferred an urban house plot in February 2011 in favour of his niece, which was not revocable during her life time. His niece died on 14.03.2011 and could get the title of plot re-transferred to his name on 15.04.2011. Market value of house plot as on 31.03.2011 is Rs. 14,10,000/-

HELLO,Sir..
I am doing Articleship in C.A Firm. One of our client is Listed Construction Company.
They contracted with some transporter for moving goods and materials.That's billin Trasnport contract...

But..the same contractor do the work of vehicals for consrtuction work in the company..and this bill covered in carting contract...


the T.D.S deducted on Carting Contract but not on Transport contract...

can one contractor issue a diffenert types of bill for tranport & carting ????

pls explain me breafly...

A Person has sold his property for Rs. 5 crore which he gets as follow:

some part of property from his mother undre gift &

remaining part of the property is his share obtained by dividing the property in four parts by all the four brothers under mutual consent.

1) Is the partition by mutual consent is valid in our constitution?

2) What will be the cost of property for calcuklating the Capital Gain?

3) What is the treatment of the property which is received as Gift from his mother ?

Assessee is a Pvt Ltd Comapny. It derives Income from Tea Garden, by producing and cultivating green Tea leaves. The tea garden is planted on a leased land for which the said co is paying annual rent at Rs 195000 p.a.
If the said company is laible to deduct Tax at source on Rent?

Dear Experts,

I have recd a letter questionaire (Notice under sub section (1) of section 142 from income tax in which one coulmn they have asked me to submit details of income tax assesment for the earlier 3 years.

What does that mean since I only filed it but no confirmation of assesment recd from income tax ?

I had filed all my returns. Unfortunately for one year the return is not traceable.

What do I do ?

Thanks

There are three companies: Company A, B and C

Company A and B are sister concern (Company A is Holding Company)

Company A require to pay Company C a sum of Rs 1 lac

Company C require to pay Company B a sum of Rs 1 lac


Can Company A take the stand that there is no liability of Company A to pay to Company C since Company C is under obligation to pay the same amount to Company B, which is subsidiary of Company A.

was the depreciation @ 50% allowable on plant & machineries purchased after 31-03-2004 but before 31=03-2007 unde tufs scheme