Mr. X is appointed as Manager under the Companies Act in Company A which is 83% subsidiary of Company B. Company A is a profit making company.

We want to appoint Mr. X as a director to look after day-to-day affairs of Company C which is a JV company with an Overseas Company and 51% subsidiary of Company D which in turn is a 100% subsidiary of Company B. Company C is not a profit making company. If appointed as a director of Company C; then Company A wishes to get reimbursed a part of salary of Mr. X from Company C. Mr. X will not draw remuneration from both the Company, but from one company only. The Company that pays remuneration wishes to get say 40% of the salary reimbursed as if Mr. X is on deputation from Company A to Company C.

How to go about this???? Will Company A show the entire salary as its managerial remuneration or is it that only 60% will be shown by Company A and 40% will have to be shown as managerial remuneration by Company C.

i want to the data about the range code / ward no/ circle no./ commissioner / of alwar city of rajasthan

i want to knoe\w best book for auditing for ca final
please tell me about this my attempt is nov 2010

SIR

As you know salary and arrears are charged to tax on due or receivable basis.
Based on this rule my friend who is a govt servant had inculded his arrears amount of 40% in the year A.Y.2008-09 though it was paid to him only in the F.Y.2009-10. As he showed his arrears in his salary income in the F.Y.2008-09,he claimed 89 relief for the said arrears in that year itself as it cannot be claimed in the year of receipt. Is it a right claim. Please comment.

procedure of serching availabity of new company name

Dear Friends,
We have made e-TDS payment(corporate assessee) for the month of Aug.09 on 15th Sept.09.
But while making the payment, Our Bankers wrongly clicked the Asst. Year as 2009-10 instead of 2010-11.
How to rectify this mistake?

Thank you in advance
varathan

Following payment made to service provider comes under TDS, if Yes than TDS rate, and provision under which section it comes ?

1. Telephone Charges paid to TATA Indicom
2. Internate/ Hosting charges paid to Reliance Communication.

Sir,
I want to file a return through electronic mode and registered in incometax website but I didn't got the confirmation mail, even after 2 hours of registration and my mail inbox is free.
Pl give me a solution to overcome this problem

We wrongly deduct & paid TDS including Cess & Ed.Cess (3%) from April 09, so how can I adjust this extra payment made. We have not aware that Ed.Cess & cess are removed from 1.4.09 we deduct & deposit TDS including Ed.cess (3%).

So guide me the procedure how to adjust this extra payment made.

A company has taken a loan from foreign bank in foreign currency, for purchasing plant and machinery from domestic market and the same is purchased from India.

Question is:- During the year, while making repayment of installment of loan(which pertains to interest as well as principle), there is a foreign exchange loss. Proper treatment is given in the books pursuant to AS 11 and AS16. How will the treatment be given as per income tax act.? How much foreign exchange loss would be allowable as expense and what proportion should be capitalised?

Section 43A speaks about machinery purchased from foreign market and treatment thereof. However there is no provision regarding treatment of forex loss arising from repayment of LOAN taken from "foreign market" and purchasing machinery from "domestic market"