The Tax Preparation Blog

Posts Tagged ‘outsourcing’

Question: How much can I save with 2400 British Pound post tax salary in the UK?

How competitive is a salary of 2400 British pounds per month post tax fin the UK for a 6 years experienced IT professional ,with more than 4 years of experience in product development ,from India.How much could be saved with a decent lifestyle? I’ve to support my family ( my spouse only).

To introduce myself,I’m a software engineer carrying close to six years of relevant industry experience in Core Java/J2EE based product development and sustaining and IT solutions building.By education,I’m a Bachelor of Technology graduate from the Indian Institute Of Technology, Kharagpur, one of the internationally acclaimed engineering schools of India.

I’m actively looking forward to working in the US ,preferably in a product devlopment organization, on Java/J2EE based technologies .Currently I’m working in the sustaining engineering division of the Product Development department of a middleware company in Bangalore

Answer: its a reasonable average salary tax will be just above 25%. You should be able to earn more once your here with your qualifications. Lifestyle will depend on where you are based, wont get you far in london. Have a look on some of the UK property websites for an idea of what you could rent I think you would be looking at around £600 upwards for reasonable property. Good luck.

Fehr man with a plan

BOSTON — Here, essen tially, is the message pre sumptive NHLPA executive director Donald Fehr has been presenting to the players during the autumn tour preceding union balloting: “Hire me to lead or don’t hire me at all.” This, according to sources, is the ultimate condition of employment for…

IRS information – statute of limitations – tax assistance – tax help

Question: what is the accounting code of secondary and higher secondary education cess for central excise,service tax?

what is the accounting code of secondary and higher secondary education cess for central excise,service tax
and custom and it is effective from which date

Answer: Accounting Code for Education Cess on all taxable services : 00440298

DDT confirms that the new 1% Secondary and Higher Education Cess on Service Tax will be effective only after the enactment of the Finance Bill.

it is effective from 1st June 2007

Fitch Rates Lakeland, FL’s Non Ad Valorem Revs ‘AA-’; Outlook Stable

NEW YORK–(BUSINESS WIRE)–Fitch Ratings has assigned an ‘AA-’ rating to Lakeland, Florida’s (the city) non ad valorem revenue bonds: –Up to $62.2 million, series 2010A tax-exempt; –$12.8 million, series 2010B taxable; –Up to $20.2 million, series 2010C taxable Build America Bonds (BABS). The bonds are expected to sell via negotiation in September. In addition, Fitch assigns the following …

tax service

Question: How does Pvt.Ltd Co’s Fixed asset Sale & Entry positing?

Hi Friends, we sold our fixed assets to a individual included VAT (because we are closing our company). now tell me how the entries to pass this sale in tally9 to nil this assets? sale value added for sale tax audit ? if we taken this sale account then profit will raise? please tell me how to manage this.

Waiting for your valuable reply.
Regards
Kumar

Answer: For Example you sold A Assets in 5000 + 2% Vat total 5000+100 = 5100

Condition 1 if you have depreciation reserve

Value of assets as per assets register is 4500 & depreciation reserve is 450/-

Cash & bank/Party account Dr. 5100.00
Depreciation Reserve Dr. 450.00
To Assets 4500.00
To Vat Payable 100.00
To Profit on sales of assets 950.00

Condition 2 if you have not depreciation reserve than your assets will be 4050.00
(4500-450)

Cash & bank/Party account Dr. 5100.00
To Assets 4050.00
To Vat Payable 100.00
To Profit on sales of assets 950.00

Fitch Rates Del Rio, TX’ COs ‘AA-’; Outlook Stable

AUSTIN, Texas–(BUSINESS WIRE)–Fitch Ratings has rated the following: –$4.77 million combination tax and revenue certificates of obligation (COs), series 2010 ‘AA-’. The COs are scheduled to sell via negotiation as early as the week of Aug. 23, 2010. In addition, Fitch affirms the following ratings: –Approximately $13.1 million general obligation bonds affirmed at ‘AA-’; –Approximately $52.5 …

Advanced Accounting 15: Intercompany Transfers/ Upstream Sale

One year after the Satyam scandal…

On January 7, 2009, B Ramalinga Raju confessed to orchestrating India Inc’s biggest fraud.

Question: are online tutoring companies taxed ?

The knowledge process outsourcing is the fore running field now, do these companies which are set up in India taxed? if so how much ? They come under education so they wont be taxed is this true? Payments for their services come in foreign currency preferably US $ so do they have to register for taking foreign currency. I have to provide this information in my report so everybody please help.

Answer: whether its taxable under Income tax or service tax is purely depends upon the nature and scope of the activities
The activity can be subject to service tax under notified taxable service of Online Data access & retreival service.
Income will be subject to income tax.
If KPO is in SEZ and its exporting the services then it can claim exemption.
There is no exemption for education under the tax laws.
In case of Not-for profit company or sec 25 company or charitable institutions it may be exempted to certain limit.

Earth Watch

The Arctic roots of our ‘upside-down’ weather

Reach Tax Advertisement ( www.reachtax.com )