If an Indian company is the only and 100% shareholder of an establishment regitered outside India, will the whole income from such establishment outside India be taxed as profits/gains of the 100% holding company? or is it that only the profits which are repatriated into India will be taxed?

A director has rendered service for the whole year enden 31.03.09. He has not been paid any salary since the same will be decided in the forthcoming AGM.

This means that the director's salary is accrued but not due.

As per Income Tax Act, salary shall be taxable on due basis.

For F.Y.2008-09,what will be his tax liability?

Sir,

I paid tds amount of 10200 for five months ( because i am in contract for five months in my current employer they deduct 10.3% from my salary as tds). Is any option to get that money from income tax department

Thanks in advance

Regards
Eldhose

Dear professional colleagues

Entities which are incurring losses, are they required to pay fringe benefit tax

Thanks and regards

Ranga K S

Dear colleagues

Our client is collecting service tax on export of services.

However due to fluctuation in foreign currency, service tax accounted will be different from what is actually received.

My query is

assessee should remit the amount of service tax accounted in the books at the time of invoicing or

the amount of service tax actually collected

Thanks and regards

Rang ak S

Sir,
Karnataka VAT
Recently there was a vat audit in one of my clients place, the vat audit people are insisting the client to collect the vat on freight&forwarding charges, courier charges and transportation charges collected from the customer

regarding this kindly advice how to go about it and if any notification is there kindly post me a notification

amt. of freight ex. rs. 500000 towards which rs. 100000 extra charges so that we book bill rs.500000 & we give him debit note rs. 100000 so on which amount tds is deducted rs. 400000 or rs.500000

How to reply for queries? like wise all experts reply my queries.

Is it any specifc procedure?

pls.guide me, bec's i am trying to give reply bt i am not able to do it.

CLARIFICATION ON
A) WHETHER NON COMPETE FEE TAXABLE AS REVENUE RECEIPT U/S 28(VA) OR CAPITAL RECEIPT ?
B) STATUS OF I-T DEPT CLARIFICATION FROM CBDT ON NON COMPETE FEE FOR CARRYING REPUTED BUSINESS NOT EXPLICITLY COVERED IN THE CLAUSE `RIGHT TO CARRY ON ANY BUSINESS ' CLAIMED AS CAPITAL RECEIPT.
C)CASE REFERENCES FOR TREATING NON COMPETE FEE AS CAPITAL RECEIPT SUBSEQUENT TO INTRODUCTION OF CLAUSE VA IN SEC 28
D) LIABILITY TO ADVANCE TAX- PAYABLE ONLY IN THE ADVANCE TAX INSTALMENT DUE DATE SUBSEQUENT TO THE DATE OF RECEIPT IN CASE IT IS TREATED AS REVENUE RECEIPT OR IN THREE INSTALMENTS AS PRESCRIBED AND LIABLE FOR INTEREST ON ADVANCE TAX DEFFERMENT
E) CAN IT BE TREATED AS LONG TERM CAPITAL GAIN CARRYING A LOWER RATE OF TAX ?

My residential Co-op society has set up mobile tower on the terrace and the income generated from the same is applied for meeting the expenses of the society such as payment of taxes or establishment expenses or maintenance expenses. In this case what would be the income chargeable to tax of the society. The gross amount received as reduced by the expenses incurred or the gross amount received itself. The society has reduced the contribution from members to the extent of the income generated as above

In this case the society members are the participants in benefit but are not the contributors hence such income does not come under the concept of mutuality. Is the application of the income for the objects of society deductible as expenses