My client has indian & foreign income .he wants to repatriate total income from usa.
He has to pay 6% as federal income tax,5% as income tax,5% as medicare tax and 5% as other tax
His foreign income is $240000 .Please tell me what is the procedure to bring the money to india .
His residential status is NRI.

Please tell me about how to make Balancesheet which entry transfer mainly to P& L A/c & if any easy excel formet for Balancesheet please send me

Thanking you,

Regards
paresh vaidya

In income tax any ammendment was there, for Hyd is Metro for calculation HRA.

we take 40% instead of 50%

regarding that some confusion is there,

plz clarify me, for a.y.2008-09 any amendment is threre for HRa calculation
40% instead of 50%

plz sir.

Thanx Vineet,

AS-21 is not clear on the following:

when Accounts of the subsidary are in $USD & Holding are in rupees. How to convert the accounts of subsidiary from US $ to Rupees so that
the account of both co are consolidated in common currency.

Say Subsidiary is in Dollars& holding is in Rupees.

Regards

We are manufacturers of industrial UPS & DC power system.
There are many customers who intend to buy our product utilizing their EPCG License.
There is a difference of opinion on how to execute the transaction. We have been suggested differently by customer & excise.
I seek your valuable advice on what is the correct way as per laid procedures.
Method:1> Suggested by Customer
Customer will provide invalidation letter of EPCG to us and we will bill only @ 5.15% duty (concessional duty) instead of 16.48% (Full excise duty)
Method:2> Suggested by Excise Department
Customer will provide invalidation letter of EPCG to us and we will bill @ 16.48% duty (Full excise duty), later customer will apply to DGFT for claiming Excise duty refund (duty drawback)
Please also conform what is the present rate of duty against invalidation letter of EPCG.
Looking curiously for your reply.

One of my client is doing carriage contract of a Department. As per Contract orders, he is responsible (including insurance) for proper transhipment of goods from one station to another. Rate is fixed case to case, some time on weight basis and some time on numbers basis.
Now, in order to execute the contract he enters in to contract with truck owners and use such trucks in carrying goods (Trucks are used only for carriage of goods from and up to the destination as per contract with truck owners). Loading unloading charges are always paid by my assessee.
My question is if my assessee is liable for TDS, under which section he should deduct the same:-
194C (i)
194C(ii)
194I
Decision of Bombay high court in relation to ship may kindly be considered before giving the reply.

What is the rate of tax on sale of second hand vehicle with in the state & what is the rate of tax when sold to out of Maharastra?

Please clarify!

Thanks a lot if anyone replies

Hi

I wanted to apply for that credit card but i donot know to whom i need to contact for that & whats the procedure for that

Thanks
CA.Satish Singla

Where can i get ITR 7 (return of income for trusts) in excel format.

Dear Sir,

You know that the banks are demanding the returns for last three years at the time of applying for loan.

If the applicant doesn't have any taxable income, can he file the return in such case to fulfill this requirenment?