hello

I want to know when to deposit direct tax (Income Tax Return)and submit it's return ?

Thanks & Regards

Bhawna

The form 26AS which shows the tax credit is not available online for past many days. The website is down due to some technical issue.
Is there any way of verifying the Tax credit on line.

Regards,

I am an Indian resident in the business of imitation jewellery. One of my primary markets is Hong Kong and China. I frequently travel to Hong Kong & China for business.

I am looking to set up a company in Hong Kong which. The company will do trading outside India (that is buying from suppliers located outside India, and selling to clients located outside India). So the profits that will be generated will be purely foreign income (without any link to India).

My questions are as follows:

1) First and foremost: Is any prior permission of RBI required for setting up a company in Hong Kong by Indian resident individual?

2) I assume that it will be necessary to show the profits generated in the foreign company as foreign income in my books of accounts in India, correct? In such a case, will I have to pay taxes on the income of the Hong Kong company both in Hong Kong as well as in India? Is there a way to avoid such double-taxation on the same income?

Thanks in advance for your assistance.

if a X Pvt Ltd company have 5 employees (including Contract Employees) at the year end. during the year 4 employees has resigned. company is paying Gross salary Rs.30,000 to all and basic is Rs.18,000. whether company comes under purview of PF and ESIC.

Mr. A – has a property in India which was purchased by him in March 1992 @ Rs. 5.21 Lacs. Now he is UK Resident aged around 80 Years. Now he want to sell the property but cant travel to India. He is willing to sell the property @ Rs 1.68 Crores.

Option 1
If Mr. A authorized one person in India through POA to sell the property & that POA Holder sells the property @ 1.68 Crores. If money is paid to POA Holders account as mentioned in POA. Then who will be liable for Capital gain. Seller who is there in UK or POA Holder & what will be tax amount & its calculation.

Option 2
If Mr. A personally visits to India & sells the property then how the payment can be done to him as he don’t have any account in India. Can the purchaser make the payment in his foreign bank account . Is that allowed under FEMA / FERA. What will be tax implication & tax calculation.

Option 3
If Mr. A not coming to India & sells the property through POA Holder @ 1.68 Crores but the payment is not done to POA Holder. Can the purchaser makes the payment to Mr. A’s Foreign Bank Account. Is that allowed under FEMA/ FERA. What will be tax implication & who will be liable to pay tax & where. What will be tax calculation.

Regards.

Satyam

Sir,
We have filled client return on 01/07/2012 claiming refund of Rs. 10319/-, ack of which is received by CPC on 16/07/2012 but same is Not yet processed.
But return filled even after due date which have NIL refund or small amount of refund have been processed by CPC.
So What is the remedy with us in this case.

my mother have two fd of Rs 100000 each. the bank has deducted tds @ 20 % on interest on fdr as PAN is not avalable with bank in march 2011 and tds return is also filed by bank of same quarter without considering my mother PAN.

the whole facts came to our knowledge today as we are assuming that tds is deducted in sepember 2012 i.e at the maturity of these Fdr

Please specify the procedure to resolve this issue

Dear All,

we are paying more than Rs.90,000 per month to Cleartrip Pvt Ltd for our Directors travelling expenses. My Query 1.Can we deduct TDS on Cleartrip invoices. and 2. Can we deduct TDS on Reimbursable Expenses (My Principal is Non Resident)

Kindly Help me.

Regards,

Dear Sir

i am getting Rs32500 CTC including Special allowance Rs2450 & Transport Allowance Rs800.
Also i am getting Other Allowance Rs4000 for Travelling,Mobile & Internet expenditure fixed everymonth.
Kindly intimate which are Taxable & how much taxable amount.

Dear Experts

I had worked in 2 companies during the tenure Jul 07 - Sep 08 and from Feb 09 to Dec 10. Thereafter i left my job to pursue CA and indeed i have qualified the same. My query is that i had applied for PF withdrawal of both the companies and had received the EPF amount in Mar 2013. The total amount received is 66000. Should i file my return for FY 12-13 considering this income as from "Other Sources"

Please let me know the treatment.

Thanks in advance