Hello Sir,
can you sent me the relevant sec s relating tax libility of a non resident at the time of tranferign the shares of a Indian company to a foriegn company

Thankyou

Hello Sir,
What is the Rate of capital gain tax and how we calculate tax liability st time of tranfering the share by a non resident to a foriegn company which is going to take over the existing company. existing company is a private company the nri has shares in the company

Ours is a indian company registered under companies act, has a joint venture with Saudi Arabian Company with a 20% Share capital of Saudi Arabian company. The indian company receives net dividend regularly from the saudi arabian company for the share of 20%. The net dividend crediting to our bank account after deduction of TDS and tax on total profits of saudi.arabian company. Example




Saudi Arabian Company earned a profit before taxes 1000000




Tax at saudi arabia 300000




Profit after Tax 700000




Saudi Arabian Company declared dividend 500000




Dividend of Indian Company @ 20% 100000




Less Tax or TDS @ 20% paid by saudi arabian co. 60000




Net dividend distributed to indian company by saudi co. 40000




Now how to account the entries in indian company and what is the tax treatment for indian company. The indian compay incurring operational losses, but after considering the dividend received from the saudi arabian company, the indian company gaining some net profits. Suppose in a financial year after receiving the dividend of Rs 100000/- the indian company gained taxable income of Rs 20000/-.




Kindly advise how to account the entries in books and what is the tax treatment and how do claim the deduction of tax Rs 60000/- by the saudi arabian company ?




Regards




S Anjaneyulu

Is FBT applicable on expenses incurred by the directors of the company?
Will your answer differ on whether the director is executive or non executive or whether he is paid salary or proffessional fees?

WHILE ACCOUNTING ASSET ITEMS BELOW RS. 5000
IS THERE ANY STATUTORY REQUIREMENT TO TREAT THESE ITEMS AS ASSET AS WE CAN SET OFF THE ENTIRE AMOUNT BELOW 5000/= IN THE SAME FINANCIAL YEAR AS EXPENSE. WHEN WE ARE ACCOUNTING SMALL FAN, PHONE OR OTHER SMALL ITEM IS IT NECESSARY TO TREAT THESE AS ASSETS AS WE ARE NOT CLAIMING DEPRECTION

Whether Gratuity and Leave Salary becoming due on the death of an employee is taxable in the hands of nominee? Please explain with reasons.

Dear All,

As per rule 26 of Income Tax Rules, the SBI's TTB rates to be taken for converting foreign currency.

Where to find SBI's TTB rate without going SBI (Foreign Branch) daily for getting the same.

Please reply

Thanks
AJ

TAN Number is Compulsory in case of Comancy

Dear professionals,

If a company purchases software licenses, should the company deduct TDS from the payment to be made to the vendor?

Thanks & Regards
Chandrashekar.

Some one receives claim under Motor Accident after 10 years and that also with interest. What is the position of taxability under the Income Tax Act for both claim and interest. Insurance Company has deducted tax at source on the interest amount.Please have your views