what are the incometax rates applicable for resident but not ordinerly resident.

1) An individual, having fixed deposit in a Bank, instructed to credit the monthly interest fetched in it to credit to his Savings bank Account. For avoiding tax deductible in this regard he proposes to submit Form 15 H / Form 15 G. Who can give Form 15 H?

2) The Banker obliges his request not to deduct any tax in such Deposits.

3) Such individual has higher income and he pays tax in his PAN.

4) Is there any risk he has to face and whether any circumstances araises to penalise him for non payment of tax in such interest? In what circumatances?

How to compute the tax liability in India of an individual resident person who is in receipt of salary income from US for three months besides indian income when the foreign income is taxed in US.

The assessee has hired a hotel room as well as conference hall to arrange some meeting in the hotel.THE HOTEL was booked for four days.After the completion of the programme the entire payment was made which amounted to Rs 1,80,000.The payment was made after deducting the tds at the rate applicable for the time being in force.Now the hotel management had sent a notice for wrongly deduction of the tds.Now please clarify the query

whether TDS is applicable in respect of remittances in foreign currency made by an Indian company to a foreign national(who has no office or any business connection in india) for services rendered outside india.

is TDS applicable on foreign payments for webhosting ?

my arguments or points

a. this service comes under royalty services. we are paying royalty for usage of their software and computer for a price.

b. the company is based in USA and does not have any Permanent Establishment in India. so NO income accrues in India.

c. Service is rendered abroad and payment is also made in foreign currency directly abroad.

d. most of my clients are located aboard.

e. there was a case where an Indian company WIPRO subscribing to an Online database of a foreign company which is maintained by the foreign company and the ruling was that NO TDS is payable on that payments. does the same apply to web hosting?

Sumeet

ONE OF MY CLIENT'S RETURN FOR THE ASST.YEAR 2006-07 HAS BEEN FILED IN THE MONTH OF MAY-08 & HAS BEEN ACCEPTED BY THE INCOME TAX DEPARTMENT, SO NOW WHAT ARE THE CONSEQUENCES ?

A person has received interest from post office Under MIS Scheme.

Is it Taxable, if it is not U/s what section?

Dear Friends,

Last year I changed my residence and this change was not intimated to the Income tax department as I did not have any proof of residence.

Further, last year, due to some financial crises I cold not pay the remaining income tax (over and above the Tax deducted by my employer)and Also did not file my return.

In this regard I have two queries:

1) how to find out whether I have have been served any income tax demand notice.?

2) for this year's return, which address should I mention in the return form - my current address or the address which is there in the income tax department record..?

other information

I am salaried person and I am residing in a rented flat without a rent agreement.

Please provide me your valuable advice

The last date for filing of Income Tax returns has been advanced to 30th September in the recent budget.

Has the last date for payment of Wealth Tax and Return too also been changed to 30 September?