I want to receive USD 5000 or equivalent Indian Rupee as a gift from my brother living in USA, who is at present on Green Card Status i.e. Non-Resident Indian. My questions are:
(i) Is there any Monetary Limit fixed by the RBI or any other government body on such remittances?
(ii) Whether any permissions has to be obtained for the above from anybody?
(iii) If yes, what is the preocedure and what are the documentation?
(iv) Is any procedure or documentation is to be done after receipt of the remittance?
(v) Is any Gift Tax or any other Tax is to be levied on such remittance?
(vi) Is there any special procedure to be followed by the Govt. Employee for the above transaction?
(vii) What if, my brother acquires Citizenship of USA before sending such remittance?

sir, when the parent company advances money to sub company.there will be a huge credit balance.when sales are booked as per transfer pricing some advances wouldget knocked off. but some of the advances would be towards fixed assets. the entry passed is fixed assets debited and credited .but some amount would have to be transferred to some other account. if so kindly guide me on the above . thaks

I AM UNABLE TO FILE RETURN ONLNE..
I HAVE DOWNLOADED ITR 2 AND I HAVE ENTERED THE AMOUNTS ALSO...
AND THE OPTIONS(NEXT, PREVIOUS, VALIDATE, HOME etc.) IN THE SHEET ARE NOT GETTING VALIDATED...
COULD U HELP ME IN THIS..
SHOULD I HAVE ANY OTHER SOFTWARE.. OR CANT I FILE INDIVIDUALLY...

Could anyone tell me that how exemption in respect of HRA should be claimed while filing return of income?
Head of Income - Income from Salary
Do anything need to be furnished in respect of rent paid.

Hi,

What is Professional Tax.

Does a person working as a software engineer has to pay professional tax. In case he has to pay, then will there be any professional tax no. issued to him like a PAN No.

Anupama.

I was a resident of Kolkatta. Since last year I was filing my returns at Kolatta only. Howeever, it is about 8-9 years that I shifted to Bombay but still continued filing in Kolkatta. This time I filed my returns through Internet. So, my querry is where do I submit the acknowledgement for -in Bombay or in calcutta. Suppose, I can file in Bombay, then which area will be defined for me for submission.(resident: mumbai - 400002)

Hi All,
I forgot to file IT return by 31-Jul-2008. Can i file after 31-Jul-2008 if yes what is the procedure and what is consequences.

Please tell me what is the rate of wealth tax.......A company have to pay wealth tax or not

Can we calim deduction for profession tax given for last 4 years in this financial year ?

I have Medical Reimbursement Allowances of Rs.15000/- in my pay package.however i claimed only 13000/-from employer by submitting bills.for the balance 2000/- alos i have bill but i forgot produce to my employer.my employer recovered the tax on that Rs.2000/-also Now can i show that 2000/- in my return to as medical expenses to reduce my tax liability and get the refund.
Can any one suggest me