Tax questions

Servicing to companies placed in abroad

Dear Sir, I am employed in abroad. During free times, I tried searching opurtunities giving HR service to companies. I have emailed to many companies asking opurtunities for HR services and I could get many orders also. Then, I asked my friend india to register a company and get bank account. He registered one company (as he is the sole proprietor) and got TAN no & bank account etc.. I ask...

Regarding Income Tax Notice

Hi, Recently I received a notice from Income Tax department, which said since I did not file the return in FY 2012-13 so i need to fill compliance options on their website. My details of FY 2012-13 are as follows: 1. Salary of from Feb 2013-March 2013(since I joined in Feb 2013 only) Rs 20,000 2. Loss from Intraday equity stock trading Rs. (8,000) 3. Loss of short term capital by sho...

Taxes related to payment processing

Hi, I have a question regarding the laws concerning taxes and regulations regarding processing a payment. I am the administrator of a platform enabling two sides: the provider willing to provide and the client in need of a service. The provider can set a price for the service in which case we take a certain procentage as a commission for enabling this user to make money through our platform...

26qb forms

Dear Sir, We (me and my wife as co-applicant means 50:50 ownership) have booked an apartment of Total value Rs 1,40,00,000 from a Builder. We are NRI and my wife is a housewife . We have NRE/NRO joint account from which the booking amount is paid and rest of the amount will be also paid from our joint account. As per our understanding, each of us has to file 26QB form separately. My question...

Sudden crediting of money in the bank

Well, as my friend is from a small town where women don't really go to banks so his mother had a part of his father's salary every month and she saved it at home. 2 years back they got transferred in Mumbai and because they were going to need that money so she put that in her new account in Mumbai (but without pan card because there wasn't any big transactions and all). So now because she had t...

Salary Arrears

how i calculated Salary arrears for AY 2016 -17.... and Need form Form 10 E because my employer did not provide Form 10 E and i provide you info abt my Income below. Information :- Salary Arrears slip April 2013 to Dec -2015 Earnings :- Basic 83140 DA 94672 **Diff. in DA (1067*24) 31080 HRA 25655 CCA 3956 Vehicle allow 79123 Professional allow 29671 Medical allow 2909 Overtime ...

Regarding outstanding demand & contacting Assessing officer.

Dear Sir/Madam, This is w.r.t my income tax for the assessment year 2012-13. I got a notification in the income tax online portal about outstanding demand of around 40,000.00 and I contacted a CA for this. He told me that since the IT returns filed hadn't considered 'deductions under chapter VI-A', it was showing this demand. Hence we filed a revised return in October 2013. However, I am sti...

Funds remittance abroad

Hi, I have one very urgent query: I live in India and my brother lives in Canada and is a Permanent resident over there. We have to transfer him some funds abroad roughly Rs. 50 lac in a day or two. These funds are required to buy a house over there on his name. I have some fixed deposits on my name which are getting matured in July end. This money was gifted to me by my mother 1.5 years b...

evidence of a chartered Accountant in court of law

Sir, June 1 2016 I Want to know your opinion in the light of the following facts in a case as under :- M/s ABC ltd requested M/s XYZ a Firm of Chartered Accountant practicing in Delhi to conduct audit of their some of the Branches in Rajasthan.The request of M/s ABC ltd was accepted by M/s XYZ (CA) and confirmed in writing to them. M/s XYZ deputed three persons to proceed for the purpose.The ...

CPC (TDS) Follow up: 26QB Statement not yet filed for Purchase of

Dear Sirs' This property was on Power of Attorney in the name of My Wife. Sale agreement entered during the year of 2001 and full amount. Whereas registration and stamp duty paid on March-2015.And Registar has consider 90L valuation for stamp duty But actually there is no cash transaction in entire deal But email received from CPC to pay the TDS. When inquired with CPC Received below mail.Pl...