Hi,

Please confirm the tax liability on Income from Salary:

Mr. A worked in tax free zone of UAE for the period Jun-09 to Jun-12 as resident of UAE. He became resident of India in F/Y 2012-13 as per I.T. Act. There No tax liability in UAE.
Please confirm the tax liability on the income from salary, which is accrues and arise outside India for the services rendered out side India amount of INR 1,000,000/- for the A/Y 2013-14.


Vishal

Ref Notification no. 25/2012- Clause 30 which provides exemption to intermediate production process as JOB WORK i.e. Agriculture, Printing & Textile Processing.

Now please anyone guide me, whether a service rendered by Commission Agent/ Broker to such textile Processors (exempt from service tax)is taxable service ???. If no, how to claim exemption by such broker?

Why does India has such a complex and complicated tax structure when compared to another countries???

Dear Experts,

I am working in a manufacturing co, which purchases raw material from within India and exports the finished goods under LUT and under claim for Rebate after debiting the excise duty.

I want to know whether we can claim duty drawback in addition to the rebate of Duty paid. If yes please let me know the Section/Notification under which we can claim rebate of duty and duty drawback as per duty drawback Schedule annexed to the notification no.92/2012.

Please reply,

Thanking you in anticipation,

what is rate of partner slab 2012-13

I have a client maintaining the books on cash basis. He has billed a substantial amount in March'13 which is realised in may-13 but the relevant TDS is made in March.

Since he will declare such income in FY 13-14, he cannot claim the credit of such tax appearing in his 26AS for FY 12-13 and in the IT returns, he has to declare that TDS is deducted in FY 12-13 but credit claimed is Nil. Now,

- Will such pending claim/carry fwd credit be appeared in Form 26AS?
- Will there be any difficulty in claiming such credit in FY 13-14 (since, 143(1) is automated and it will be computed based on the credit showing in form 26AS)
- Is there any other method to resolve this issue?

Please respond...

An individual Receiving salary in UK. Payer is an indian company.is his salary taxable in india?

Plz tell me that interest paid on TDS/VAT for delay payment is allowed as business expenditure while computing business income??
Kindly tell me section numbers..

if I am not file itr for ay 2012-13 although tds deducted in that year can I file my itr for a y 2013-14 with out any problem or there is any legal liability on my. please advice.

I have given a sum of Rs. 2,50,000/- on 01.02.2013 to my friend to run his small business (already started a year back) as credit. I took two PD cheques from him for Rs.1,50,000/- & Rs. 1,00,000/- dtd 30.04.2013 with an agreement between us (signed & thumb impressed by me & him) saying that the amount to be return to me by him within cheque date. If he fails to do the same i could deposit those PDC. He didn't paid me back within cut off date. Later I came to know he is misusing approx 95% of the profit of that business, so, it is under loss. If he goes to sell that business also it doesn't value more than a lakh, but it is in running condition means have sufficient orders. Meantime I have followed up for my money till first week of July 13 and i didn't get any positive reply from him, so I deposited those Chqs on 10.07.2013 in my account. They got bounced & reached me by 16.07.2013 with bank memos saying that Insufficient funds. After that also I tried to contact him by phone & phisical, but no response. Now I want to send a legal notice. Is it OK if I send legal notice after 30.07.2013 (chqs valid date) or Should i have to send within that ? what are the tactics ? what law says ? Please help me brothers.....