My client wants to sell his property in India and from sale proceeds he wish to start a restaurant in Australia. Can he remit outside India and what are the procedures to be followed. And whether he need to form company overhere and then invest overseas??

sir
my late father used to pay income tax on behalf of huf.he died 5 years back. the property has to be divided my uncle and me.due to some differance its under pending,but we are equal dividinag the the rent,but we are filinag the tax under his name is it ok nor not.can we file income tax seperatly for rent we recive without divding the property.(with do course it will done)if yes what is the procedure

thanks

madappa

As per Income tax status is NRI.

Having rental income in india which is received in indian Rupees and depositing in the NRO a/c.

To save tax can Investment u/s 80C like Bank FDR, Mutual Funds, PPF etc.

Dear Expert
Durng signing of xml file, following problem I face........

Cant read the file for signing:c/fakepath:xml file

My DSC is newly made and registered in Income Tax.

PLZ...........solve my problem

I)wrong Pan No quoted in form 16 by the employer
II) Received a letter from ITO regarding non-credit of refund due to mis-matching
II) Submitted photo-copy of PAN CARD to the employer for future correction

Please suggest remedy for current correction of present anomalies.( Return submitted etc)

A CHAUDHURI
DURGAPUR
15/12/10

Hi,

I am moving to a new organization after serving more than 5 years in the present company. I want to withdraw my PF balance and re-invest the whole balance in the in PF account of new employer.

My queries are :

1. Can I claim 80C deduction again this for the re-invested PF balance?

2. For tax perspective, which is the better option. Withdrawal of PF balance or transfer of balance to new employer.

Sir
i want to know that, i m going to book flat in pune in Dec. 10 and whoes possession will be given in the dec. 11. he charges price inclusive of service tax applicable in dec. 10 i.e 2.50% however my i will getting possession in next FY so i pay tax at 2.50% or of next year's rate which might be coming down

HEY WHAT TO DO IF A WRONG PAN NO. IS ALLOTED BY THE INCOME TAX DEPARTMENT.

MY ASSESSEE IS A PVT LTD COMPANY AND AS ALLOTED THE PAN NO AS FIRM ( i.e 4th digit of PAN No. is F as against C)

What to do in such case..

plz suggest.

Dear all,
I hv filed my return electronically(due date 30 July) and did send duly signed ITR-V by speed post.. i hv not yet rcd any mail from IT department regarding receipt of my ITR-V.. what should i do? will this penalise me?
Pls reply

Dear Sirs,

We have a unique situation. We are a subsidiary at a start up stage. The Core Company owns about 83% of the stake in this subsidiary. Whilst the Core Company also has international business, the subsidiary plan to do business in India for the time being.

One of the divisions of the Core Company manufactures Electric Vehicles in India. The Subsidiary Company would be using these vehicles for its commercial operations in India. The vehicles would come to the subsidiary as a purchase which could be paid to the Core Company on easy installments

I am told that direct billing to the subsidiary would not be possible and the billing has to be done through a third party. This would only inflate the project costs a bit too illogically.

Is the argument correct? If so, can you please explain me the logic. What are the Acts and Laws preventing these transactions and what could be the possible remedies?

Alternatively, can you please let me know how can the logic of Transfer Pricing be applied to this situation. What are the formalities and approvals we need to seek and from where? What are the procedural steps needed and what could be the time frame to get this?

I look forward to your kind but detailed reply at the earliest possible.

Note : Registered office of both the subsidiary & Holding Company is in Gujarat but subsidiary company does function in Maharashtra.
Thanking you,