Hi
A lot has been discussed about how foreigners are taking advantage of the Indo Mauritius Double Tax Avoidance Agreement (DTAA)to avert taxes in India.

I would want to know how can Indian companies take advantage of the Indo Mauritius DTAA to save taxes and improve efficiencies.

How to fill up ITR 5 - column 52 ( P/L A/c )...for firm opting for section 44AF....and having
gross turnover = Rs. 38,00,000 /=

net profit = 1,90,000 ( 5 % of 38,00,000/-)

remuneration - Rs.1,18,800
interest to partners - Rs.25,000
If we fill
gross receipts - 38,00,000
gross profit- @ 5% 1,90,000
Expenses:-(Remuneration+Int.) 1,43,800
Net Profit would come as 46,200...which is not 5 % of G.T.

How to fill up ...so as to reflect that the profit declared complies with the provisions of section 44AF and also the computational provisions of the I.T. Act?

Where to show remuneration & Interest which are deductible from N.P to get firms taxable Income....

How to fill up ITR 5 - column 52 ( P/L A/c )...for firm opting for section 44AF....and having
gross turnover = Rs. 38,00,000 /=

net profit = 1,90,000 ( 5 % of 38,00,000/-)

remuneration - Rs.1,18,800
interest to partners - Rs.25,000
If we fill
gross receipts - 38,00,000
gross profit- @ 5% 1,90,000
Expenses:-(Remuneration+Int.) 1,43,800
Net Profit would come as 46,200...which is not 5 % of G.T.

How to fill up ...so as to reflect that the profit declared complies with the provisions of section 44AF and also the computational provisions of the I.T. Act?

Where to show remuneration & Interest which are deductible from N.P to get firms taxable Income....

sir, our tally data still corrupted...whether it is do correct...what should i do...plz reply me

If a company is not running busniess and only ROC & Audit Fees Exp. incurred since last 3 years.
1 Income Tax Return filling is compulsary or not for that co
2. Any penalty & prcecuission may be made on the same or not. if filled late return

Hi,

as per para 43, clause(d) of AS 14 particulars of the scheme of amalagamation sanctioned ubder a statute are to be given in notes to accounts.

is it the whole scheme which should be reproduced in notes? or to what extent these particulars should be given in notes.

pls. help...

Thanks

Manish

We are a pvt Ltd co.
We have purchased an old vehicle for Rs.3.50 Lacs on 29.03.08.

We are charging dep @ 25.89% for Financial Records.

What should be the rate of Depreciaion for FBT purpose?, Whether it should be the rate as per Income Tax Act or the same as charged in financial records?. Please help.

Hello,

As these days taxes are paid through e-payment so please tell me that whether e-payment of FBT and IT is compulsory in all the cases or it is compulsory in the audited cases (FBT & IT).

Also if possible please let me know where i can find it in act or rules.

What is the treatment for the items less than Rs.5000/- under the company law as well as under the income tax act, if the items belongs to same block of assets.

Can u give a little guidence how to study for ICWA and is ICWA possible without coaching and side by side with job