Dear Sir,

Client has branch in U S and employees are travelling abroad and company will get foreign currency from one of the foreign exchange dealer for credit period of 60 days.

My question is, whether the foreign currency received in cash form exchange dealer is loan for section 269SS.

Hi,

My client has not filed there ROC returns since last 3 years.Now the company has gone in a dormant position.There are two directors in a company and they were not knowing there DINs. So I applied for DIN by filling form DIN 1.And I got DIN No.
After that while filling Form 61..one of the directors DSC had promblem..So I registered there DSC on MCA 21 site also and validated it properly.Then I came to know that while filling form DIN 1 of one the Directors...I made a mistakes in his name...So i filled form DIN 4.....
Now form 61 is not getting uploaded coz its showing an error that "signature Validation failed.....person not authorised to sign"
Time and again m calling MCA but they are not telling me the correct steps...now what should I do??
Pls tell me whether i m supposed to fill Form DIN 3??
And pls again tell me the relevant steps to make a comapany active and filling returns.
And just today i filled form DIN 4..so after how many days should I restart my work??
Respected experts pls reply ASAP.

Thanks.

Suyash

Can A NRI file his personal Income tax return in INdia (As he has been /ie being assessed in foreign country), would he lialable to pay tax in india on the income he earned at foreign if yes ,what would be the share of income added in his income.

He may possess some bank fd's and some other investment in india, Is it necessary to file return to him.
pls clarify
thanx
Nandan Bisht
9810253294

I audited my books of accounts for A.Y. 2012-13 in Sep, 2012. My turnover was Rs. 3.25 crores and net profit was 1.75 lakhs. I did not file my return of income as my income was below taxable limit. I also not submitted copy of audit report anywhere in any office. Is any penalty provision which can be initiated against me? If yes, what amount of penalty and under which section?

One of my friend file the return for Assessment Year 2013-14 on 28/02/2014.
At the time of filing the return he is not mention the deduction under section 80C, therefore return shown the tax on income but he not look at that point and file the return.
When he see the ack. copy of return it shown the tax payable amount.
What should be done for that to rectify the mistake done on file of return?

Please reply.
Thanks

my query is -whether once in service tax always in service true??
If an Assesee who is under service tax ambit subsequently if the value of the Taxable Services fall below 10 lakhs does assesee still has to pay service tax for the subsequent years??

Sec 56(2)(viic)taxes an individual on the shares purchased by him if the FMV is higher then the consideration he is paying.

So my query here is,
when in future an individual sells the same shares he will be liable for Capital Gains Tax.If we assume the Asset(Shares)to be a long term asset and the computation for the same is done under Sec 48,the Cost of Acquisition would be the price he paid for purchase of such shares.

Isn't it unfair to first pay tax u/s 56(2)(viic) because the consideration paid by the individual is less than the FMV and again on selling such shares the benefit of COA will just be the purchase price paid.

For eg:
FMV Rs 50
Consideration paid Rs 10
So tax U/s 56(2)(viic)=50-10=40*30%=Rs 12
Again when the individual sells the shares-
Selling price Rs 100.
So the computation U/s 48 will be as under
Full value of Consideration:100
Less:Cost of Acquisition: (10)
Taxable Income: 90
Tax-90*20%=Rs 18
So the individual ended up paying Rs 12+18=Rs 30 as Tax.

IF I HAVE SALARY INCOME OF 400000 AND HOUSE PROPERTY INTEREST OF 150000.....THEN IN MY GROSS TOTAL INCOME I WILL WRITE 400000.AS I CAN'T CLAIM DEDUCTION OF 150000.THEN WILL I SHOW IN INCOME TAX RETURN FORM 150000 AND HOW?

I AM CITIZEN OF INDIA & WORKING WITH COMPANY IN INDIA THE SAID COMPANY HAS CREDITED TO MY A/C.THE VALUE OF SHARE I.E 11,25,602 BEING VALUE OF PERQUISTIES U/S 17(2) AND INCLUDED IN MY TAXABLE SALARY IN FORM NO 16.THE SAID SHARE ARE GIVEN BY THE EMPLOYER IS LISTED IN NEWYORK EXCHANGE NOW I AM SELLING THE SHARE WITHIN ONE YEAR OR AFTER ONE YEAR THROUGH SHARE BROKER IN NEW YORK WHO HAS REMITTED THE SALE PROCEEDS OF THE SHARE IN USD VALUE & CREDITED TO MY SB A/C IN INDIA IN INR WHETHER SHORTTERM OR LONGTERM CAPITAL GAIN IS ATTRACTED & PAYABLE BY ME ALONGWITH MY SALARY INCOME TAX RETURN PL EXPLAIN

Hi
A share holder of a private limited company wants to transfer his share to another person name.( not a relative of share holder).So what is the procedure should be applicable on share holder. and also company is liable to intimate ROC for change in shareholding or not.if Yes then any payment should be made to ROC .