Topics

1

Discussion / penalty for quoting wrong pan in TDS returns

« on: October 22, 2012, 10:20:40 PM »

One govt department has filed TDS return mentioning wrong PAN Numbers but AO imposed penalty u/s 272B @ Rs. 10000/- separately for each default. What is the correct position of law.

2

Discussion / Regarding tax liability of Society formed for Charitable Purpose

« on: July 22, 2012, 01:11:42 PM »

One society has been formed for promoting growth of Hydogen Energy in India. They are doing seminars and there is some excess at the year end, what is the tax-ability of this excess sum, the society is formed purely for charitable work ? Some persons who have contributed towards sponsorship fee have deducted tax at source. How the same can be claimed as refund ?


CA. Rajeev Jain

3

Discussion / Regarding payment of tax on capital gains

« on: July 04, 2012, 07:13:54 PM »

one of my client has sold certain immovable property in May 2012 and there is long term capital gain, he is an Individual, according to me he is liable to pay entire tax upto 15.9.2012, what is the correct position of law ?

4

Discussion / Regarding Tax Liability of Foreign Companies in India

« on: July 04, 2012, 10:41:14 AM »

One Foreign Based company has opened an office in India, necessary approval from RBI and ROC obtained, PAN card also obtained, the company has 3-4 employees in India.  The salaries and other expenses are sent from HO. The company is doing supplies of various machines and equipments from its Head Office in Foreign Country to India and also doing installation work. The local representatives are doing follow up work. The payments are directly remitted to Foreign Country. The total business during 2011-12 is approx. 20 Crores. What percentage of profit will be calculated by tax department attributable to operations in India. There are expenses incurred by company for its offices in India.


CA. Rajeev Jain

5

Discussion / Regrding TDS liability on payment to foreign companies

« on: July 03, 2012, 05:34:30 PM »

One of my client has started business if tour and travel. He makes payment to foreign companies for booking of Hotel Accommodation on behalf of his clients. He asks me to provide certificate u/s 15CB. Those foreign companies have no permanent establishment in India. Is there any TDS liability on my client ? Please advise me the correct position of law.


CA. Rajeev Jain