IF AN INDIVIDUAL WHOSE TURNOVER UPTO LAST YEAR WAS NOT 40 LACS BUT DURING THE CURRENT YEAR AT THE END OF FEB 2008 HIS TURNOVER EXCEEDS MORE THAN 40 LACS. WILL HE REQUIRED TO DEDUCT TDS.

We are a MNC company having 100% foreign share holding. Apart from being 100% shareholding we have to comply with all the indian requirements.

We have regd office at Kolkata and we want to open a branch office in other states, so for opening the branch offices what compliances we have to do.

Respected sir,

If we trade intra day trading in stock market, how the tax responsibility is applicable on its profit ?

Tell me Is there any limititaton of turnover for individual in intra day trading ?

Manish

Dear Friends,

One of my clients belongs to Scheduled Tribe Category and is eligible for the exemption u/s 10(26) of I.T. Act, 1961.

He files his return from Guwahati.

He receives contract payments on account of Contract undertaken in the Schedule Tribe Area.

He has his Bank Account at Guwahati and deosits his contract receipts in this Bank Account.

Whether he can claim the benefit of Section 10(26) of the Incoe Tax Act,

An Individual/HUF Sub Contractor enters into a Labor Contract with a person.

1) Whether the Sub Contractor is liable to deduct TDS on the payments made to that person.

2) When a Sub Contracts further sub contracts, is it covered by Section 194 C?

A PERSON IS A RETAIL(HARDWARE) SHOP OWNER (SHOP IN RENTED).

OPERATES WITH HIS PESONAL SAVING BANK ACCOUNT. HE DO NOT HAVE A CURRENT ACCOUNT, SO


IS IT NECESSARY TO HAVE A CURRENT ACCOUNT?

HE HAS NOT MAINTAINED ANY SORT OF ACCOUNTS APART FROM BIT OF ROUGH TURNOVER DETAILS. CAN U PLS ADVICE ME THE WAY, TO GO AHEAD WITH THE RETURN FILLING PROCEDURE.

THANKS

i am PE-II student waiting for the result. Meanwhile i am looking for individuals seeking to file a return. So my query is whole lot related to basic things. And first of all am i eligible or is there any qualification for a person to be able to file a return of other persons. And is there is any website where i can get all the basic or preliminary knowledge about the procedure of filling a return.

thanks,

Dear All,
Sub: - I have a query about TDS and Service tax for employee in foreign

If we want to appoint employees / professional in INDIAN LTD Company and he is working in foreign.

We want to appoint an employee in foreign. He is working in foreign, resident of foreign, salary paid from us to him in foreign exchange so please advice about TDS and Service Tax Liability for above matter.
And further advice that we also appoint another person as a professional to visit our customer office in foreign and he is resident of foreign and paid fees to professional in foreign exchange. So please advice about TDS and Service Tax liability about that matter.

Please also give me section reference
Best regards,
Ritesh Mohan Jindal

how to file new ITR-4 return for the dealer who is covered under section 44AF
is it require to fillup balancesheet and profit and loss account deatils?

A house was purchased in 1980.Due to non-delivery of the same by the seller the assessee could'nt occupy it.Assessee bought it in the name of his wife, who is not an assessee.

A petition was filed which took many years to get it decided.Registration Charges were paid to the court in 1982.

Now, in the year 2006, dec. the verdict was in favour of the assessee asking him to get it registered.

Upon sale will it be a Short Term or a Long Term Capital Gain, if it is sold in Jan.2007

pavan kumar.
visakhapatnam.