one of my client having an export business in which there is one party covered u/s194 C for freight forwarding contract & they deducted tds on all payments to that party but in that there is two payments of around 7 lacs which is paid on behalf of my client by the freight forwarding contractor to the shipping company & this payments were later on reimbursed by the client

so pls tell me the tds applicability on this 7 lacs & the shipping line is indian company having lower deduction certificate from IT

wheather expenditure on software of considerable amount is to be capitalised or treated as revenue expenditure? if it is to be capitalised then what rate the companies act prescribes?

Hello friends,
I registered myself yesterday into caclubindia.
I'm doing ICWAI Inter both group & going to appear in December 2007.
I would like u to suggest me some best books for all subjets.

What is the difference between Service Tax & Service Charges

Hello Sir,
What is the Rate of capital gain tax and how we calculate tax liability st time of tranfering the share by a non resident to a foriegn company which is going to take over the existing company. existing company is a private company the nri has shares in the company

CAN U PLS SUGGEST ME AS TO WHICH ARE THE BEST BOOKS AND AUTHORS FOR FINAL CA IN ALL SUBJECTS ( PREFERABLY IN Q N ANS FORM) OTHER THAN THE STUDY MATERIAL

I AM GOING TO APPEAR PCC IN NOV 2008.I AM ALSO IN S.Y.B.COM REGULAR AND UNDERGOING ARTICLESHIP.I HAVE DECIDED NOT TO GO FOR COACHING AS I THINK SO THAT I CAN DO IT.I FIRMLY BELIEVE IN SELF STUDY. BUT I CAN NOT UNDERSTAND FROM WHERE TO START AND FROM WHAT.PLZ HELP ME...

Ours is a indian company registered under companies act, has a joint venture with Saudi Arabian Company with a 20% Share capital of Saudi Arabian company. The indian company receives net dividend regularly from the saudi arabian company for the share of 20%. The net dividend crediting to our bank account after deduction of TDS and tax on total profits of saudi.arabian company. Example




Saudi Arabian Company earned a profit before taxes 1000000




Tax at saudi arabia 300000




Profit after Tax 700000




Saudi Arabian Company declared dividend 500000




Dividend of Indian Company @ 20% 100000




Less Tax or TDS @ 20% paid by saudi arabian co. 60000




Net dividend distributed to indian company by saudi co. 40000




Now how to account the entries in indian company and what is the tax treatment for indian company. The indian compay incurring operational losses, but after considering the dividend received from the saudi arabian company, the indian company gaining some net profits. Suppose in a financial year after receiving the dividend of Rs 100000/- the indian company gained taxable income of Rs 20000/-.




Kindly advise how to account the entries in books and what is the tax treatment and how do claim the deduction of tax Rs 60000/- by the saudi arabian company ?




Regards




S Anjaneyulu

does icai help us in choosing firms as said in the following url of icai

http://www.icai.org/icairoot/publications/complimentary/cajournal_aug02/p198-202.pdf

Can be service Tax Charged at Lower Rate?