Can you help me in this little question

a client/individual is supposed to receive some referral fee for a consulting job overseas.

the company is deducting corp tax of 20% in UK from the fee received by the client/individual in India. and they would remit the balance along with a copy of tax deducted being sent for records.

will this tax deduction of 20% by the UK company as proof is enough for the indian entity to file tax that has been paid in UK or is there any other taxes that the indian entity has to pay.or any indian IT dept will ask him to pay?

as he has already being taxed by the payee overseas,

can you help in this matter.


Paul.

SIR,
A MANUFACTURING COMPANY HAS INCURRED LONG TERM CAPITAL LOSS OF RS. 50.00 LACS ON SALE OF LISTED SECURITY AFTER AVAILING INDEXATION FACILITY UNDER OPTION I 20% TAX RATE
THE COMPANY HAS ALSO EARNED LONG TERM CAPITAL GAIN OF RS.100.00 LACS AFTER INDEXATION ON SALE OF LAND
SIR PLEASE GUIDE ME THE LOSS ON SALE OF LISTED SECURITY CAN BE SET OFF AGAINST LONG TERM CAPITAL GAIN

One of our client (ex-A)want to buy building of rupees 60 lakh. now seller(ex-B) don't want to registeration for 60 lakh, reason is, if he sells more than 50 lakh in registration office they will ask to deduct TDS. query is...Who is going pay tax or who is going to deduct TDS in this case??? What are the problems from income tax if they registered above land below 50 lakh???

Hi,

1. What are the conditions for carry forward of service tax input credit?

2. Is there any time limit for this carry forward?

3. Is there any prescribed procedure for adjusting input credit against liability?

4. Are there any specific approvals to be taken from service tax department for carry forward of input credit to future periods?

5. Any other points that you may consider important with regard to above queries.

Appreciate prompt reply.

Regards,
Rajen

Can anybody specify the format of a board resolution for authorizing a director as the authorized person of a department of the company?

Dear Sir

please explain me whether cost of rewinding of engine alternator (125 kva generator)paid by our company Rs.50000/-is revenue exp. or it is capital exp.

please clear me urgent

thanks & best regards

Rupesh Kumar Gupta

I have filed ITR for Assessment Year 2013-14 online on Dt.05/12/2013. By mistaken while filing the ITR 4, Schedule BP, column No. 51, I entered Purchase figures (Rs. 17,45,668/-) instead of Gross Profit (Rs. 2,85,602/-). So, the Gross Profit was hike by mistake. Net Profit was shown correctly in the form. When I received Intimation U/s. 143(1), found computation as per Income Tax Department “Income from Business or Profession Rs. 16,56,885/-.
This was a data entry error. Now Can Revised Return filed. For the Assessment Year 2013-14 or Rectification U/s. 154 is possible ?

Dear Sir,

Please help me with the following: Our Company, a Private limited Company has Share application money pending before the Commencement of the Companies Act, 2013.
According to Section-42 of the Companies Act, 2013 Company is required to allot shares within 60 Days from the date of receipt of Share Application Money. If the Company is unable to allot the shares with in time it shall repay the application money within 15 Days.

Now our query is:

1) Whether Section 42 is applicable on the Share Application Money received by our Company before the Commencement of the Companies Act, 2013? If it is so, then from when the 60 Days criteria shall be taken into Consideration (From the Commencement of the Act, i.e. 01.04.2014 or any other date)??

Now, According to Section- 73-76(Chapter V) of the Companies Act, 2013 and as per the Rules notified by the MCA under this Chapter, if the Company fails to allot shares and also fails to refund the share application money with in time prescribed then such money shall be treated as deposits

Now our Second query is:

1)If Section 42 is applicable and Company fails to allot the shares or refund the money, whether such share application money due for allotment shall be treated as Deposits? If Yes, from which date it shall be treated as Deposits?

2)Financially, If the Company is not in a position to refund the same even till the end of the Financial year and want to retain the same for a longer period then what step should be taken into consideration to retain the same?


Thanks in advance.

Whether penalty levied u/s 234E of the Income Tax Act,1961 can be waived????
If Yes how?
is there any case laws related to this ??
Kindly give reply as early as possible

Hi,

One of the party not submitted in c form.

kindly provide the cto process.

Do the needful.