CA. RAJESH Kr. MAURYA's Expert Profile

Queries Replied : 79

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sharma.ctc@gmail.com says : TDS & Income Tax return of a Foreign National wor
Dear Experts & Friends... I have few queries on the TDS & IT return of a Foreign National (Chinese) Points to remember... 1. The Chinese (A) National landed on 13th Feb-11 and still working with us and we have obtained a PAN for him. 2. Another Chinese (B) worked in Sept-10, bt no PAN was applied for him. 3. Now we have already paid 22000$ to A and $ 15000 to B after deducting 10% TDS on both. 4. Both A & B came on behalf of the Company with whom we have made a contract for giving Technical Know How. 5. The Chinese (B) is going back to China on 30th Jun-11 Now My Questions are: - 1. What are the rules for a Foreign National to become a resident of India (I rem. that if a Foreign National stays in India more that 180 days in a calender year that he become a resident of India) Is that true? 2. How can I file Income Tax Return for Chinese B (for VISA purpose) 3. What the DTAA rules says on this. 4. If IT return to file than which form is applicable? 5. We have paid to total sum as Technical Fees then where to show the same and is he entitled to get the refund? Please answer as early as possible......

Piyush Doshi says : Legal proof of Farmar
Hi Rajesh, Thanks for Replay. Can you brife me more. What is the legal document for prove it is a farmar from last 2 year. 7/12 & 8A and entry of crop of it for particular year ?

Priya Rao says : Interest under SEC 234C
Helo, Could you kindly give me more details regarding interest calculation under SEC 234C of IT ACT, 1961 for FY 2009-10? I have an example. Would appreciate if you could help me with it: calculate the Interest u/s 234c Filing Status : Resident Gender : Male Salary : 100000 Equity Shares Listed : 980000 (short term capital gain ) sold on date 08/08/2009 ----(For this the 234c Interest rate calculation will come under all three Quarters) Commercial Property : 934167 (Long term capital gain value after indexation) sold on date 08/02/2010----(For this only last quarter) Tax on Salary : 0 Tax at Special rate Tax on Long Term Capital gain : 174833 ( 874167 * 20%) ( Here Long term Income is considered as 874167 because the Taxable income minus long term capital gain is less than the amount of exemption limit 160000 i.e Section 112 So acc to that section, 160000 - [ 1034167 - 934167 ] =60000, LGCT chargeable to Tax is 874167 (i.e 934167 - 60000) Short Term CG Tax : 147000 ( 980000 * 15%) --- this also comes under Section 111A but the section 112 on LTCG gives more tax benefit.so that section is applied to Long term capital gains Total Tax : 321833 Education Cess: 9655 Tax Before Interest : 331488 Please Calculate the Interest u/s 234C