Hello,
What will be the tax treatment of the salary received by a person in UK (considering the UK and Indian tax treaty)if he works there only for 4 months.
Again what will be the tax treatment if he saves some amount there and brig it in india in INR. Please advice on both. Thanks

This query was posted few days back but strangely it disappeared shortly after posting(after the site was down for maintainance). Here is the query again:



In what all ways internal audit process is going to be different in ERP environment compared to internal audit process in non ERP based environment ?


Please explain in Detail.

This query was posted few days back but strangely it disappeared shortly after posting(after the site was down for maintainance).

There is a Head of income known as - Proft and Gains from business and profession (PGBP). What is the difference between profit and Gains?

Note that

1)Capital gains is taken under separate head . So I assume Gains do not mean capital gains

2)Net income from profession is never mentioned as Gains in income statement.

We have made a payement to Transpoter on account of "Octroi". we had contract with them for Octroi.Payment made on behlaf of us & they charged 3% as a service charges on octroi amount & after that i.e. Octroi Amount + Service charged they claim Service tax on Serivce Amount.
please let me suggest Is it possible,they will claim for service tax? if Yes then is is possible for us to take the credit of the same amount

According to Sec 66A of Finance Act 1994, any recipient of service who has a permanent establishment in India is liable to remit service Tax, on value of services availed by him from a person who has a permanent establishment/Place of Business/Place of Residence outside India... I would like to know if the value of such services does not exceed basic exemption limit, in the hands of recipient (i.e. Rs 10 Lacs in last Tax Year), along with all other services rendered/imported by him, will he be still liable to pay such Service Tax???
Please reply experts its a little urgent...

There is a SC(CCE V Guru Nanak Refrigeration Corporation) decision in Central Excise stating that 'arms length price can fall below cost of production '.
In Guru Nanak Refrigeration corporation V CCE-(1996)81ELT290(CEGAT 3 member bench )
its held that -if price is the sole consideration and if dealings between assessee and buyer are at arms length, assessable value will be decided on the basis of selling price ,even if its below manufacturing cost.

I want to know whether there is similar case law in Income Tax to prove that price is at arm's length even if its below cost of production.That is price below cost is not the sole criteria for determining arms length price.

Hi...

Can the output service provider, providing both taxable and non-taxable service, avail the credit of excise duty paid on the input goods?

Assuming he is not maintaining separate accounts regarding the consumption of input goods in each service.

My Client purchased an asset on 01-04-2004. on 01-05-2007 company got asubsidy from govt relating to this asset.
How this subsidy amount treat in books?
Is it depreciation reworking from o1-04-2004 needed or not?

freinds,

Kindly reply on my query relating to -

1. Is TDS to be deducted on the bill of contractor supplying employees?

2. If TDS is to be deducted, than does this TDS is inclusive of Service-tax Amount in the bill?

3. Also, consider that Both the contractor and contractee are Corporates and the total contract value entered is exceeding Rs.20,000/-.

I Just Want To Opine On The Answer Given By Ram Avatar Singh On The Question When To Book Import Purchase?/

In My Opinion It Should On Date Of Commercial Invoice Not At The Time Of Recival Or Payment.