I am Indian citizen living in delhi. I am working for a company based in United states of
America. They don’t have any office in India. I am receiving salary through wire transfer in my HDFC account my salary is around $950/-, which is automatically converted to rupees when it comes to my bank account .as the company not based in India they have not giving me any salary breakup I have just one employment agreement from them which states I am working for them.
Am I eligible to file tax as per Indian income tax rules if yes then how ?

thankyou
Ravinder

can anyone tell me wht will be the tds rate for deduction on hire charges in respect of vehicle hiring?????

i am a final year engineering student who wants to pursue accountancy. May i know from u :
1.what is the duration in which one can complete the CA course?
2.when does one have to apply?
3.when are the exams conducted?
4.I will have to start from which level,(pE i or II)?
5.how do i get study material for CA?
6.What wud be the total costs involved(fees,books,etc)?
7.how many hours will i have to devote daily to study and clear CA?
8.me being an engineering graduate, am i exempt form the IT course that is to be undergone?
9.what about the articleship, will i have to leave job and do that, is it kindof a job or an internship, and howlong does it last?
10.how is the procedure different from Cost accountancy and company secretary?

i wud be very grateful if i cud know from u the answers to these queries and other such questions which u might help me, a newbie to make an informred decision about CA.

thanx in advance
regards

LAST YEAR I WAS WORKING PART OF YEAR GOT FORM16 & DID TRADING IN FUTURES/OPTIONS.PL TELL ME WHICH ITR FORM NO TO BE USED & INCOME FROM FUTURES IS SPECULATIVE OR BUSINESS INCOME.REGARDS.

Hallo Sir,

Thanks for your reply. But I want to know whether we can issue form 409 & 406 to our subcontractor, where I am doing sales to my customer @ 8% under composition of MVAT Act.

for e.g.
A has awarded me (B) a contract of Rs. 100 (all taxes inclusive). I will collect VAT @ 8% from this sale. I am subcontracting this contract to my sub-contractor (C) for Rs. 80 against NIL Tax, becuase I am issuing him Form 409 & 406. In this case can i issue Form 409 & 406 to my sub-contractor
regards
Kamlesh

Hi

We are a manufacturer of electric panels.
we have sold panel to customer & have fullfil all excise formalities the same. but some material of panel have been faulty & we will to take it back. Kindly let me know wheather we can take the excise benefit on it. or what the formalities we have to follow.
DHANYAWAD IN ADVANCE.

I have received reimbursement of tuition fee of my child under Children Education Allowance. Whether I can claim relief of tuition fee paid for my child u/s 80C. Kindly clarify as I have to furnish my returns.

Gautam Mitra

Dear Sir,

Kindly clarify whether cenavt credit of excise duty paid on capital goods is allowed on capital goods acquired during initial setup of factory, machinery is received but factory has not yet come into existance and/or got regitered as production has yet to commence.

Is there any legal reqirement to get the registration under central excise before placing purchase order of caiptal goods/inputs although factory has yet to commence production.

Kidly Clarify the matter at your earliest and oblige

Dear Sir,

Kindly clarify whether cenavt credit of excise duty paid on capital goods is allowed on capital goods acquired during initial setup of factory, machinery is received but factory has not yet come into existance and/or got regitered as production has yet to commence.

Is there any legal reqirement to get the registration under central excise before placing purchase order of caiptal goods/inputs although factory has yet to commence production.

Kidly Clarify the matter at your earliest and oblige

During the FY 2007-08, M/s XYZ Pvt. Ltd. received Rs. 300 lacs from a client after deduction of TDS against a Proforma Invoice. M/s XYZ delivered part services and booked the whole amount as Income of the year 2007-08. The auditors were informed that the work is done and so the full amount is taken to Income. However, during 2008-09, the client of XYZ gives an official letter demanding back full amount of advance i.e., Rs. 300 Lacs. M/s XYZ has no choice but to return the money. Can anyone tell the accounting treatment to be done for reversal of Income in the books of 2008-09. And what happens to the Income Tax return ? Is it to be revised ?