A foreign company (X Inc ) sold goods to a Indian company (y Ltd). income arises by these transaction, to foreign company is taxable in India? 1.foreign company has no business connection India. 2. There is no DTAA between above countries many people said that business income of non resident only taxable in India if he is having any business connection India. but where it is specifically provided in section 9, sec 9 says that any income, whether directly or indirectly, through or from a business connection in India is deemed to be accrue or arise in India. in the given case the foreign company accrued above income in India. as per section 5 any income accrued in India is taxable.

Respected Sirs,
If interest is credited to the Bank Long Term Loan A/c and it is observed that the entire interest has been paid which can be verified from the bank statement, then, will the interest be taken to the balance sheet along with the Bank Long Term Loan? It is obvious that the interest paid will be debited to the P&L A/c but since the interest has been fully paid it should not be credited to the liabilities side of the balance sheet. Kindly correct me if I am wrong. Is there any case law or circular or notification in this regard? If yes, kindly send it to micky_arya@yahoo.com. Thanking you,
Dheeraj Arya.

Dear Experts, How to generate part B in Form 16 by employer? Thanks in Adv, Maya.

I have 1 queries:

My employer has deposited 10% in NPS(S.80CCD(2d)). Can I also deposit 10% of my salary on my own in NPS and be eligible for deduction. THis is apart from Rs.50000 available u/s80CCD(1b)?

Thanks very much in advance for the information.

can longterm gain on sale of residential flat be used to purchase land to save tax??

I want to know the procedure to file application for condonation for delay in filing income tax return . whether application can be filed by mail .please send me the format of application

I have forgotten to open capital gainn account on or before the due date of filling itr. I have not submitted ITR also till now. What can I do to get exemption from huge capital gain burden?

After due date i.e 31st july in most of case but before submission of ITR ..can I open capital gain account scheme ? In this case I have not submitted ITR on or before due date?

Dear Sir/ Madam, Kindly tell me the complete procedure to know the Date of Birth of HUF , as one of my new client doesn't have it's date of formation. So I want to know the procedure to get that date. Plz assist me. Thank You

Hi

I am registered dealer under GST. I had paid Truck Freight as under.

A.Rs.700 to a unregistered goods transport agency on 7th July,2017.

B.Rs.4500 to a unregistered goods transport agency on 10th July,2017.

C.Rs.40500 to a registered goods transport agency on 15th July,2017.

All the above goods transport agency not charged any GST on the truck freight.Now on which of the above transactions;Should I Charge RCM(Reverse charge mechanism)
and how the accounting entries will be passed.Also whether can I claim Input credit of the above RCM;If yes how the accounting entries will be passed ?