I was in USA for sometime and earned some money there, which I invested in buying some bonds and shares there. I have now returned to India and am a citizen of India. I want to know whether the returns I am getting on those bonds in USA taxable in India. If yes, how and under what provision of Income tax Act, 1961?

how to treat cross holding in case of merger.

Example:two companies A & B will be merged with Company C

Someone told me that minimum 1000 labour must be there to term a contract as works contract .Is it true? I never seen this type of conditions in WC Act. Please help me to solve my confusion.

IF WE ARE PAYING SALARY Rs 9000/- TO EMPLOYEE. WHETHER I HAVE TO DEDUCT PF, ESI,PTAX.PLEASE SAY THE RATE. AND SUPPOSE WE SHOW THE EMPLOYEE UNDER CONTRACTOR HEAD, IN THAT CASE WHETHER I WILL DEDUCT THE ABOVE TAX OR CONTRACTOR WILL DEDUCT. PLZ REPLY

What will be the consequences if I have not prepared books of Accounts in the 1st year of incorporation and how the 1st AGM shall be conducted? Please mention the solution also to avoid penalties?



Thanks in Advance

Dear all,

i have a clarification.

Here there is a Canteen in a factory run by contractor, there are 4 employees of this contractors.

This factory is however covered with ESI & PF clauses, but this contractor has not get himself regsitered under ESI PF.

when told that now the Company has to deduct ESI PF for this contractor on bill, the company said that bill is raised for only food bill charges.

however the company has suggested the contractor to get himself regsitered for PF ESI.

Is this approach right by the company?
since there is no detail on basic or gross earning what amount should then company deduct ESi PF.?
Further what are the consequences to be faced by the company as the Contractot has not registered neither company.
is there any penalty,fine,imprisonment for Company.?
Also is there any time limit within which registration should happen by Contractor?

kindly clarify Pls.

Ragards
Feroz

A CO HAS PROVIDED IN ITS ARTICLE THAT AUTHORISED CAPITAL IS DIVIDED IN THREE PARTS REPRESENTED AS 'A' , 'B' AND 'C'. IT FURTHER PROVIDE THAT HOLDER OF 'A' CAPITAL WILL APPOINT TWO DIRECTOR AND SAME WAY HOLDER OF 'B' AND 'C ' CAPITAL WILL ALSO APPOINT TWO DIRECTOR EACH. IT FURTHER PROVIDE THAT IN A BOARD MEETING A RESOLUTION CAN BE PASSED WITH MAJORITY SUBJECT TO ONE AFFIRMATIVE VOTE OF EACH 'A' , 'B' AND 'C' DIRECTOR.

IF SUCH TYPE OF CLAUSES ARE VALID AND MEET THE REQUIREMENT OF COMPANIES ACT .

I received an intimation under section 143(1) claiming a tax liability of Rs 12000 But actually i claimed a refund of Rs 14000 in the return of Income. Against intimation of sec 143(1), I filed a rectification letter. Then I got a order u/s 154 of The ITA 1961 stating a refund of only Rs 1000 and not Rs 14000 . Please let me know what should I do now???Against order u/s 154 of the ITA 1961, what should i File now??? Can a file a rectification against 154??

In a Company Two brothers are part time director and does not get any remuneration from the company .Company wants to appoint one director as advisor for a particular project and want to give 75000 P.M. advising fees .Whether this Case will be covered in section 314(1B).

Respected all,

Should tds be deducted from payments made to banks
section 194A specifically exempts banking companies from tax deduction, but what about other sections like 194J or 194C?

Thanks & Regards
Jyoti