The Tax Preparation Blog

Posts Tagged ‘incometax’

Question: Will it help ,if only 5% income tax is applied to all tax payers flat & all other taxes aborted?

Income Tax Sales tax department of India

Answer: good suggestion and also i think it will be viable

Crooks offer refund on online tax refund!

Public’s lack of awareness and technical sophistication of the cybercrooks has led to an increase in phishing attacks.

150 Years of Income Tax.wmv

Question: i worked in usa till jun07 & paid taxes in usa. i went back to india again & paid tax on us income.IT refund??

i worked for an indian company till June 2007 in USA and paid my US taxes in USA. I went back to India in July and my indian company again charged me taxes on my USA income from Apr-June07 in India and deposited it to Indian tax department assuming that my status will now be Indian resident. But i changed my employment and again came back to USA (period of stay in india was only 5 weeks in July). I am aware that India and US has double tax treaty according to which i should be charged taxes only in one country. My question is that , in which country I should get the refund of this tax. In INDIA by filing indian tax return or In USA in US return and is there special tax form I need to use for this. e.g 1116 for US or ?? for india.
It is a matter of about $4000 which my indian employer charged me in India on my US income , which shouldn’t be since I am not a resident of India for indian tax purposes.

Answer: Get it from India. The USA is broke

Beware the siren call of emerging markets

The story of emerging markets is a seductive one. They are go-get-’em economies, growing at a staggering pace, set to speed past the moribund West in little over a generation. What’s more, the main emerging markets of Brazil, Russia, India and China (Bric) have massive populations, growing middle classes and, crucially, young demographics. We all know by now the narrative, and for investors …

Why Asia needs a strong Arms Trade Treaty

Manhattan Associates Reports First Quarter 2011 Revenue and Earnings

ATLANTA — Leading supply chain optimization provider Manhattan Associates, Inc. today reported first quarter 2011 non-GAAP adjusted diluted earnings per share of $0.41 compared to $0.40 in the first quarter of 2010, on license revenue of $7.8 million and total revenue of $71.7 million.

Question: HOW TO KNOW PAN NUMBER OF COMPANY?

I want to know the system of knowing PAN number of a company. Does a company have a surname as asked in Income tax website. What is the surname and PAN number of Power Trading Corporation of India

Answer: You should write the full name of company at feild “Surname”. Further you also need date of incorporation of co at the same link to know co PAN.

BRIEFLY: Feb. 18

See what’s happening in and around Halifax and Plympton.

taxguru weekly telecast every saturday by manoram news tv,this episode is dtd 4-10-2008

Question: Tax Exemption for disabled person in india on lottery winning prize?

Suppose a disabled person in india win playwin superlotto prize of 2,00,00,000(Two crore rupees) how much prize amount he will get after deducting the tax? Is there any tax excemption for disabled in india in above case? please mention the rate of income tax and tax exemption.

Answer: no expemtion on ottery winnings

Govt may enhance I-T exemption limit in coming Budget

At present, income over 8 lakh attracts the highest slab of 30%. The Bill has proposed the 30% rate for income in excess of 10 lakh.

Common man ‘dissatisfied’ with Union Budget 2010-11