Hi Experts

I am working with an IT Co. The co is providing service to client outside india. Fue to that many employees are travelling to client place for providing service but as per contract all travel and allied charges are reimbursable from client.

Please advise the accountability if expenses are paid by co and then charged from client without any margin.

Right now co. is showing the expenses in their books and when get reimbursements it is being added to sales.
Please advise is it a right treatment?

Co. is SEZ. waiting for reply.

I have a client who is an NRI.

He receives salary from Australia and tax is also deducted there. We have the TDS certificate of Australian Government.

My queries are-

1.Which form is to be filled with the income tax department if he receives salary from Australia and earns saving bank interest in an Indian Bank Account?

2.Will the salary received be exempt? If yes, under which section?

3.How can the TDS be claimed? I mean, like we import form 26-AS

4.Can two years return be filled together of such NRI?

Can a Director who is retiring by rotation at the AGM, vote for himself for his re-appointment in the capacity of a shareholder in case of show of hands or poll

my assessee is a job worker.He receives goods from a company for processing it into powder, my assessee is liable to pay excise duty on removal of goods. he does so same.
he also takes cenvat credit of bottles received from company's consginor.the bill of bottle is in name of company but recived in my assesse's premises and hence he takes cenvat credit of same.
how to enter this in tally .it should reduce excise liability.

IF COMPANY'S TOTAL TAX LIABILITY SAY RS. 8000 THEN COMPANY LIABLE FOR ADVANCE TAX

I started my Articleship period commencing from 21/04/2012.Subsequently I took termination on 21/01/2013. Date of my re-registration is 06.02.2013 and due date of completion of my articleship period is 06.05.2015.... Will i able to give my CA Final exams on Nov 14.....

I am a retired officer and getting pension about 6.5 lacs. During F.Y 2013-14 (AY 2014-15 ) I did consultancy and charged Rs 3 lacs ( 2.7 lacs in my a/c and 30.000/= TDS booked in 194J). Can I use ITR 4S for filing my return.I want to book 90 percent as profit.

Sec 56(2)(viia) / 56(2)(viib) are not applicable on companies in which public are substantially interested.

Now wish to know that there is a company listed on a regional stock exchange which is a recognized stock exchange. But on looking for the status of the company, it is a suspended company. The question is that if a suspended company will also be treated as "a company in which public are substantially interested" or not and accordingly Sec 56 (2)(viia) / (viib) would be applicable to it or not?

Authorized Share capital of private company is 1 Lac. Two subscriber to MOA have agreed to invest 1 Lac but invest only 50,000 towards share capital. They spend 80,000 out of their pocket towards company expenses. They want the company to adjust 50K out of this amount as share capital invested and receive back 30K from company as reimbursement of expenses.


Can Co. do so ?

Also confirm that no form 2 needs to be filed in this case as the amount is invested by subscribers .

Hi,

My friend has purchased a new flat which is under construction and his home loan EMI already started from June 2014 whereas actual possession will be next year, that is August 2015. Presently he is staying at rented house and paying rent for that house.

My query is, Can he claim HRA as well as home loan interest/principal amounts. Kindly advise in this regard.