My son was working in Dubai and returned back in India in Oct 2016 and hence has NRI status for the FY 2016-17. He is currently working from Home for a China company and getting monthly salary. No tax has been deducted by China company.

Pl. advice whether salary from China is taxable for the FY 2016-17 with NRI status.

Sir,

XYZ LTD. has Head Office at Chennai and branch at Hyderabad.
It has Excise Registration on the address of Chennai. Now XYZ LTD required excise reg for Hyderabad office also.
What is the procedure for Excise registration of branch office?
Shall I fill Form A-1 or Declaration Form for branch Excise Registration?

Please resolve my Query.

"weather the amount of interest received from buyer under MSMED Act 2006 will be subjected to income tax once again at the hands of MSME supplier? "

for convenience the Sec.22 & Sec.23 of MSMED Act 2006 is extracted herein below:

22. Requirement to specify unpaid amount with interest in the annual statement of accounts.—Where any buyer is required to get his annual accounts audited under any law for the time being in force, such buyer shall furnish the following additional information in his annual statement of accounts, namely:—
(i) the principal amount and the interest due thereon (to be shown separately) remaining unpaid to any supplier as at the end of each accounting year;
(ii) the amount of interest paid by the buyer in terms of section 16, along with the amounts of the payment made to the supplier beyond the appointed day during each accounting year;
(iii) the amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under this Act;
(iv) the amount of interest accrued and remaining unpaid at the end of each accounting year; and
(v) the amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues as above are actually paid to the small enterprise, for the purpose of disallowance as a deductible expenditure under section 23.

Section 23 in The Micro, Small and Medium Enterprises Development Act, 2006
23. Interest not to be allowed as deduction from income.—Notwithstanding anything contained in the Income-tax Act, 1961 (43 of 1961), the amount of interest payable or paid by any buyer, under or in accordance with the provisions of this Act, shall not, for the purposes of computation of income under the Income-tax Act, 1961, be allowed as deduction.

Whether RCM is applicable on freight paid on capital goods purchased while the factory in under construction?

I want to confirm whether COP is required for taking up a job as a consultant. I am being offered a job on consultancy basis i.e.off-role without deduction of PF,ESIC or professional tax. They will be deducting 10% tds on consultancy fees. I am currently not holding COP. Does taking up a job on consultancy basis require COP?

Dear Sir,

I want to file my income tax return for fy 14-15 and my in hand salary was 27000/- pm but employer didnt deduct tds from my salary (my salary component include HRA,DA,LTA,EDUCATION ALLOWANCE & ETC.) .
my qustion is if i want to deduct hra,lta& child education allowance from my salary so can i file itr 1 with direct minus all exemption or i will have to file itr 2

Dear Experts,
I had purchased the laptops for business purpose on which i had claimed the depreciations also. But i have given some laptops on rent. So pls clarify can i avail the depreciation on rented laptops or not

Regards
Mukul Jain

I have a query regarding the Capital Gain Account Scheme. There is provision to get exempt from capital gain tax on sale of property if you invest the amount within 2/3 years as per exemption u/s 54. I want to know what if the person does not deposit the amount in Capital Gain Account but invest the amount in property to claim expemtion after the return filing date and the person has not filed the return for that financial year. will that person still claim exemption or he has to pay the tax on capital gain?

I'm a recently qualified chartered accountant. I'm looking for a career as a consultant in a consulting firm to have enriching knowledge and experience. I've heard that top consulting firms like bcg, bain hire chartered accountants who are rank holders. I'm neither a chartered accountant nor qualified in first attempt. Do I have a chance of getting selected in top consulting firms? If so, what steps should I take? If not, what other options do I have to have a glowing career as a consultant and reasonable pay?

I am providing two taxable services CONSULTING ENGG SERVICES & BUSINESS SUPPORT SERVICE I HAD PROVIDED services before 01-June-2016 and received payment before 01-June-2016.

Now i want to deposit service tax alog with interest part thereon, kindly suggest me the accounting head for depositing service tax and interest.

I have searched and found these accounting heads for Consulting Engg services 00440057 and for Business Support services 00440366
Swachh Bharat cess 00441493

I request you gentlemen to kindly suggest me the accounting head for interest part. Is there only one accounting head for interest part for every services there is a different accounting head for its interest part.

Your early response will be highly appreciated.