Hello,

My wife and I are planning to move back to India in the Jan 2010. In preparation, we transferred money from a joint account in US to an bank account in India, which has my name as first applicant, and my wife's name as second applicant.

We have one joint bank account in US where both of our US salaries gets deposited.

Instead of leaving the the transferred money in the NRE account, I went ahead and requested the bank to open many NRO FD's. Some of the FD's got matured and the bank deducted TDS @30.9%. After my wife and I both submitted our PAN card the bank has notified us that going forward TDS would be @15%.

Now, we are in tax filing season, and I was doing research on filing taxes in India (I came from India to US at time when I need not file taxes). I realized that the bank would issue form 16A only for me and not for my wife. That means only I would be filing taxes for this year. The fact of the matter is that half the interest income we received from NRO account belongs to my wife. What can I do to correct that.

I am not worried too much about the 2008-09 year, what can I do to make sure that going forward half the money in our NRO account belongs to my wife so that she gets her separate income from interest and files taxes individually. (I probably find myself in this situation because I assumed that India would also have something equivalent of "Married Filing Jointly" as in USA).

Any suggestion would be highly appreciated.

I passed CPT in Feb 2007 and joined articleship from 25th March 2007.

The articleship is to continue for 3.5 years ie to end on 25th Sept 2010.

For the above period sir can you tell me the maximum leave i can request from my principal to study for my final exams due in Nov 2010

Thank you

I WANT TO KNOW THE PROCEDURE FOR IMPORT EXPORT REGISTRATION.


WHERE WILL GET FORM AND WHERE WE HAVE TO DO THE REGISTRATION..



THANKS

I Deduct the TDS of party in First Quater & File the TDS Return but in next Quater no TDS deduct of Party.

My Query is :
(1) Can I Filed NIL Return of TDS is Require or it is Optional?

i have heard that if we appear in both groups in single attempt & clear one group along with 70 % or more marks in 1 subject of another group, then in the next attempt we can get exemption from that subject & we have to study only 2 subjects except that which is exempted.
please clarify me.



Nitesh
ca-Pcc Nov.09
indore

sir plz tell me that does the CHANGE in name of AAS is applicable for june attempt also?????????

How many years we can carry forward Depreciation Loss? and under which section

Sir/Madam,
I'm auditing in a manufacturing company where they use oxygen, co2, etc. cylinders in the process and the supplier charges VAT on holding charges of cylinders beyond the free holding period. I'm unable to judge whether the supplier is entitled to charge the same on holding charges. The holding charges are seperately mentioned in the bills. Please help me out on this.

My corporation is maintained Accounts in Tally, 9 package. Corporation not maintain account in Physical format i.e. like Cash Register manually it is legal or not

“THE GOVERNMENT HAS ISSUED A NOTIFICATION DATED MARCH 25, 2009, SPECIFYING THE NEW PROCEDURE TO BE ADOPTED BY COMPANIES FOR EFFECTING REMITTANCES TO NON- RESIDENTS AND FOREIGN COMPANIES, UNDER SECTION 195 OF THE INCOME TAX ACT, 1961 WHICH WILL COME INTO FORCE FROM JULY 1, 2009.”


My Quarries are

(a) Whether any payment / payments made by Indian Representative (IR) to foreign principal, against cruise booking from Indian resident whether in Indian currency or foreign currency covered U/s 195 of the income tax act, 1961.
(b) Cruises are not entering in Indian Territory, whether service tax on commission received by IR, applicable.
(c) Some cruises are entering in Indian Territory, than what is the position of service tax.
Send your reply on my e-mail id skg_asso@rediffmail.com, skg.asso@gmail.com



(CA SUNIL GUPTA)