Employee leasing his own hosue to employer. Employer provides same house to employee as CLA. Is this a tax evading technique? Tax officers are treating this as a method of tax evasion - How ?. Employee is offering the rental value as Income from house property and inturn the CLA value is also been taxed as perq. Interest on loan is alos claimed as deduction U/s 24.

My friend has got a NRI investor who is ready to invest in IT industry in India. Now, Confused on which form of legal organisation they both have to tie-up. Firstly they decided to go for partnership form of status.

since FOREX inflows from NRI investor attracts FEMA and other RBI guidelines. In addition to that provisions regarding registration under partnership act also apply on them. This seem to be enormous formalities.

I suggested both the resident and NRI can enter in to joint venture agreement (JCO-as per AS27) without creating any new organisation but having same share of management participation and profits intact.

My doubts are -

a) which form (i.e partnership or joint-venture) has got more formalities under FEMA
b) can joint-venture be on-going basis? (i.e life time agreement possible)
c) the ceiling limit, which a NRI can invest in business in India as per FEMA
d) impact of transfer pricing as per sec.92 of IT Act,1961
e) any act regulating joint ventures and rules regarding registration of instruments of joint venture?

Awaiting eagerly of responses

Thanks a lot.

hi every body,my name is bharat kumar reddy, i am recently joined, i want to know what is small-cap,mid-cap and large- cap in stock market.can any one explain this please

Friends,

How to calculate 234 B incase of part payment of Self Assessment Tax?

Pls explain with an Eg.

Arun Dongre

Sir/Madam,

Can you please give the procedure involved for converting a unlimited company to a limited company.

Though Section 32 of the Companies Act 1952 provides for Registration of unlimited company as limited I could find nothing on procedure involved.

Thanks,
Anupama Venkatesh.

We have taken labours from contractors in our factory and we are paying montly to the contractors towards wages apart from ot and meal expenses to labours..
pl..tell me accounting treatment in books..

Dear Sir,

i have received one invoice for Calender Printing for Rs.110000.00 on which vendor claim CST @4%(without c form).

shall i deduct tds at the time of payment or not & why ?

Please help me.

Indian unit of International Doctors Association is organising a International conference for which is collecting registration fee from its members in India and abroad. They may also receive grant or fund from International Association in this regard, but they are not yet sure. My query is;

1. To organise the conference, Indian unit has to pay rent for equipments to be hired (like furnitures, conference hall, hotel rent etc,) professional charges, travel agents etc. Do they need to deduct IT, if the payment exceeds the limit for TDS?
2. What is the status of the association? Is it AOP?
3. Do they need to file return of income?
4. What to do, if there is any excess of income over expenditure or vice versa?
5. Does its books of accounts are to be audited U/s 44AB Income tax act, 1961 if the gross receipts exceeds Rs. 40lakhs?
6. If you have any suggestions, please suggest

Hi,

Iam Shiva Who wants to rejoin CA in the new scheme to my info should we write the CPT because i have given my attempt in old syllabus for Group II only.

Kindly advice me the procedure involved in the new scheme

when a associate will be treated as permanent establishment even though the service rendered by the foreign company does not have any connection with the service rendered in outside india