Dear All

Our Client Company intends to appoint a Foriegn National as Whole Time Director.

In this regard can you let me know

1. What are the limits for payment of salary under FEMA and the relavent Rules / Regulations.

2. What are the limits for repatriation of the salary outside india by the Foriegn National.

Regards
Mohit

Expenses (Lease Rent) along with Service Tax accrued in Oct~Dec’08 but paid in Jan~Mar’09. Whereas company did not have taxable income in Oct~Dec08 but It has 50% of revenue from Taxable Services, can the company claim set off of 50% of aforesaid service tax amount in Jan~Mar’09 (since set off of service tax is claimable in the period during which payment is made)

Also can the company carry forward Service Tax incurred on Lease Rent capitalised (during construction period) for set off against future taxable income (though it may provide exempt service in the interim period partly or fully)

Expenses (Lease Rent) along with Service Tax accrued in Oct~Dec’08 but paid in Jan~Mar’09. Whereas company did not have taxable income in Oct~Dec08 but It has 50% of revenue from Taxable Services, can the company claim set off of 50% of aforesaid service tax amount in Jan~Mar’09 (since set off of service tax is claimable in the period during which payment is made)

Also can the company carry forward Service Tax incurred on Lease Rent capitalised (during construction period) for set off against future taxable income (though it may provide exempt service in the interim period partly or fully)

Expenses (Lease Rent) along with Service Tax accrued in Oct~Dec’08 but paid in Jan~Mar’09. Whereas company did not have taxable income in Oct~Dec08 but It has 50% of revenue from Taxable Services, can the company claim set off of 50% of aforesaid service tax amount in Jan~Mar’09 (since set off of service tax is claimable in the period during which payment is made)

Also can the company carry forward Service Tax incurred on Lease Rent capitalised (during construction period) for set off against future taxable income (though it may provide exempt service in the interim period partly or fully)

sri,
please clarify that whether the account settlement with vendor shall treated as payment or receipt for payment of service tax. ex i provide service for Rs 100000 and ST Rs. 12360 and the purchase of Rs 60000 than whether i suppose the Rs. 60000 receipt for payment ST.

pls clarify with support of laws.

if i being an indian co deduct the tds of a foreign shipping co. the tds return requires PAN of deductees to be furnished. i do not have the PAN of this co or say the Income Tax no. the co has given belongs to their country. How do i file the tds return?

Hi,

The exam notification for JUN-2009 says that we can apply for the exams online using http://icaiexam.icai.org/ adress.
However, the website is asking for User ID.
Where can I register to get the User ID.

Regds,
Hari

..Hi All

Can anyone explain me that in case of a pvt. indian company,from which place the company can file itz income tax return either from itz registered office or frm itz administration office..is any compulsory thing is there..???? ..if it is plz gv reference of section

Can we initiate the registration process for an LLP now i.e making name application and other formalities. i m askin this as LLP will commence on 1-4-2009 , so can name application be made before that date.

Our Company have three mfg units.Can revaluation of F/A be done in one unit only?If Yes, what should be the accounting treatment when one asset tranferred(revalued) to the another unit.

The co is adopting SLM method.

for example: GB 100000, Accumulated dep 19000 NB 81000
Revalued Rs. 120000 and transferred to another unit