Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Gaurav says : Advance salary
A company pay to its employees advance salary of Rs. 100000 in september and in further month an equal amount of Rs. 10000 adjusted from his salary . Taxable or not??? and what is advance against salary? Sir please reply

Priya Rao says : Query on NRO account
Helo Sir, I have the following query regarding taxability on NRO account: One of my clients is working in Japan and has an NRO account in India. How can he stop TDS deduction from NRO a/c? Currently 30% TDS is being deducted from his NRO a/c. Can he transfer funds to an NRE account to enjoy tax-free returns?

Abhijeet Sharma says : Form 23 B
Sir, While filling Form 23B for the period 2009-2010 we have uploaded the Form 23 B with accounting period as 2010-2011 but however we have uploaded the revised 23B in the same date for 2009-2010. Now we want to upload 23B for 2010-2011, so kindly suggest whether we need to rectify the old mistake before filing the return for the year 2010-2011. Regards, Abhijeet

Barots says : COP
I am holding full time COP. Recently I joined a Company in the capacity of consultant. Do I have to intimate the institute regading the same? Can I continue offering services as consultant and also hold full time COP or do I need to convert my COP to part time COP. Can any one guide me as to the procedure for the same? Sir, as advised by you, With in 30 days from the date of joining employment an intimation containing details thereof shall be submitted to ICAI seeking permission. However, I am not on the payroll of the company. It would be paying me profeesional fees against invoice raised by me. Whether still, I have to seek permission of ICAI? Can I continue to receive professional fees if convert my full time COP to part time COP or if surrender My COP as I do intend to provide any attestation services? Sir kindly advice.

UTKARSH AGARWAL says : collection of payment against sale of imoprted ite
i am associated with a chines mnc.This chines mnc's one division has liason registred office at delhi.we are importing material from china & storing it at delhi.Now we want to sale this material to indian users.I know this is inter state sale & material is commencing from delhi we have to pay VAT to delhi gov.After paying VAT can we receive payment from our customers in our registered office bank account.If we want to get payment in USD at China in parent company account,after paying sale tax(VAT)here,can it possible?