CAclubindia

SUBRAMANIA SARMA G's Expert Profile

Queries Replied : 44

+ View Full Profile

About me

What kinds of questions I can and can't answer?

My area of expertise

My experience in the area (years):

Organizations I belong to:

Publications or writing which has appeared :

Educational credentials:

Award & Honors:

CAarticlesgroup says : HOW A FOREIGN CITIZEN START BUSINESS IN INDIA
hello sir.. can a foreign citizen start business in india ?if yes please state the steps required to start business?

Sunil Sanger says : Withdrawal of Recognised PF by ex-employee
Please refer to the query on PF withdrwawal from a recognised PF trust and the your response dated 7/11/2007 wherein you have stated that for the recognised PF Trust no tax is to be deducted to the extent of exempted rate of 8.5(present rate) when the payment of interest is made on withdrawal of PF money even after the date of leaving the employer. My ex-employers have however, deducted tax at source @10% from the date of leaving the company to the date of payment of withdrawal amount even though the PF withdrawal took place after 5 years of PF membership. They seem to have drawn inference where in the case of ONGC Ltd. v Income-tax Officer (TDS), Dehradun ITAT Delhi Bench ‘A’ observed, “Accumulated balance due to employees ] as provided in rule 2(f) of Part A of the Fourth Schedule, to the Income Tax Act 1961, would mean the balance due or claimable by an employee on the day he ceased to be the employee of the employer maintaining the provident fund and, therefore, such balances would imply amounts credited to the accounts of employees during their employment. It was only these balances that were exempt from tax u/s 10(12). The assessee, a recognised provident fund, had made the impugned credits to persons who were no longer employees of ONGC. The cessation was not due to their ill-health, the discontinuation of the employer’s business or for any other cause beyond their control. The amounts credited in the accounts of former employees would not be exempt from tax.” Even though ITAT ruling was prompted by the fact that employee would leave their accumulated balance with the PF trust to earn tax free interest. While in my case there was no impugned credit but a settlement by way of withdrawal. Further the settlement in my case happened in the same financial year immediately after the statutory period for withdrawal was over and the formalities of withdrawal were completed. Kindly advice if I could apply for refund of the TDS and if yes what disclosure needs to be made in the return of income. Thanks & regards

sreekanthsharma says : latest amendments
Dear sir can u help me for the latest amendments in income tax in all heads on income

vivek says : hlp me.........
i couldn't crack the last cpt...next exam on nov 4th...can i pass it by preparing 50days nd what r d tips to be remember, i mean which subject should be given importance nd if it is needed to look all chapters in detail?pls help me.....