Hi,
My query is regarding professional tax on directors remuneration in Maharashtra. The person is a director in a pvt ltd company and his professional tax is deducted and paid by the company. The person does not have a PT enrollment number. Does he need to obtain a Professional Tax enrollment number as director? Does he need to deduct his professional tax on directors remuneration, or if company is deducting it is sufficient and he need not register?

An Indian company purchases goods from a US company in which the former has 23% equity stake (substantial interest). Whether the transaction qualify as 'international transaction amongst associated enterprises' or is it a 'specified domestic transaction'.

Q1- we are going to avail EPCG license for importing capital equipments as a service provider to foreign vessel owner as per DGFT article 9.53.

our source of revenue generation is :
Berth hire charges from Foreign Vessel owner in the form of INR.

are we eligible to get EPCG license as per clause 9.53 ?

q2. Whether it will be treated as export of service or no ?

Hi,

I am software developer. I work for an company in day time & in my free time, usually weekend & night I do freelancing on Elance.com, oDesk.com & freelancer.com Now I know that if I withdraw the funds to my bank account, my PAN will have record of it so I need to pay tax for that.

What if I use my relatives' bank accounts, who are unemployed, to withdraw the fund. Will I save from more tax? Is it legal?

The freelancing websites don't have my PAN. If I withdraw via PayPal it has PAN. So is it possible to divide my freelancing income by withdrawinf fund in multiple accounts?

Thanks!

I have passed my ipcc both groups.Presently iam doing articleship. I registered for articles. An acknowledge from ICAI register final along with Articles registration otherwise your articles registration is pending......Is it mandatory to register final along with articles registration?

Our process is to buy plain cotton fabric and print designs over them, I want to ask that will this amount to excisable goods.

If so than under which heading and at what rate will it be dutiable????

Dear Experts,

Kindly explain the LUT renewal procedure under Central excise and format of the letter please.

what are the documents required for vat registration & whats the procedure for doing same

Below is my payslip and salary details..
Reimbursements like (Parking Allowences, Medical, LTA, Telephone, Health, Books) are paid to me on every month salary and we need to submit the respective bills at end of the year(i.e in Feb or in March)

Here my question is when calculating tax.. the Reimbursements money is also calculated as earning and not exempted from tax after submitting bills.. so I have to pay nearly 22k as my total tax. Is this the correct calculation?


Permonth PerYear
Basic 19050 180340
House Rent Allowance 7620 72136
Conveyance 800 7573
Parking Allowance 2000 16933
Parking Allowance Arrear 0 2000
Medical Reimbursement 1250 11833
LTA Reimbursement 2500 23667
Telephone & Internet Expenses 2000 18933
Health/Sports Club Fee 1500 14200
Books & Periodicals 2000 18933
Special Pay 6969 65973
Prevous Emp Income 44232
Per Month 43203 476753

Provident Fund 2286
Profession Tax 200

Dear Sir,

We have purchased flat in Mumbai...now Kindly give me the advice what will be good for Tax planning purpose.. to show it as an Investment or as an Fixed Asset..Purely from Tax Point of view..